Mixed trends in India's MMF yarn market; viscose up, PC stable

Ludhiana has witnessed higher demand for polyester, PC, and viscose yarn due to the upcoming festival and winter seasons. Prices for these yarns have increased by ₹1-3 per kg since last week in Ludhiana, Mumbai, and Surat. However, fully drawn yarn (FDY) prices have been under pressure due to the steep decline in crude oil and the raw materials used to produce polyester fibre. Market experts noted that festival and winter demand, which typically begins in late June, improved only in the last week as buyers remain cautious about new purchases. The Surat market reported a decline in FDY yarn prices due to lower raw material costs.

In Ludhiana, the market showed better demand for PC and polyester yarn, driven by seasonal demand. Polyester spun yarn prices increased by ₹2 per kg, while PC yarn prices remained stable despite higher demand. A trader from Ludhiana told Fibre2Fashion, "The market saw better buying due to the upcoming festival season. The winter season is also known for higher demand for polyester and PC garments. Manufacturing activities for the festival and winter season improved after a significant delay this year."

In Ludhiana, 30 count PC combed yarn (48/52) traded at ₹208-218 (approximately $2.48-2.60) per kg (GST inclusive); 30 count PC carded yarn (65/35) at ₹195-205 (approximately $2.32-2.44) per kg; 20 recycled polyester fibre yarn at ₹110-120 (approximately $1.31-1.43) per kg; 30 count polyester spun at ₹162-172 (approximately $1.93-2.05) per kg (GST inclusive); and recycled polyester fibre (PET bottle fibre) at ₹71-73 (approximately $0.85-0.87) per kg.

Market sentiments in Surat's polyester yarn trade dampened, with prices remaining stable despite slightly higher demand. Buyers were hesitant following a recent sharp fall in global crude oil prices, which dropped by 5 per cent on Tuesday. This decline is expected to lower polyester fibre and yarn prices in the Chinese market, affecting domestic market sentiment. Additionally, excessive imports of polyester staple fibre are unlikely due to the requirement for BIS certification.

In Surat, 30 count polyester spun yarn was traded at ₹147-148 (approximately $1.75-1.76) per kg (GST extra); 40 count poly spun yarn at ₹160-161 (approximately $1.91-1.93) per kg; 50/48 fully drawn yarn (FDY) at ₹115-116 (approximately $1.37-1.38) per kg; 75/72 FDY at ₹106-107 (approximately $1.26-1.27) per kg; 75 bright yarn at ₹105-106 (approximately $1.25-1.26) per kg.

Viscose yarn prices were higher in the Surat market but remained stable in Mumbai. Trade sources attributed this to increased demand for women’s apparel typically sold during the festival season, which supported market sentiments in Surat. However, forward import deals for viscose yarn at lower prices dampened market sentiment in Mumbai. Chinese viscose yarn is expected to be 5-6 per cent cheaper than domestic prices, with consignments likely to reach Indian ports within a month.

In Mumbai, imported 30 count viscose vortex yarn was priced at ₹193-199 (approximately $2.30-2.37) per kg; and local 30 count ring-spun viscose yarn at ₹198-204 (approximately $2.36-2.43) per kg in this market. In Surat, 30 viscose compact yarn (local) was sold at ₹202-204 (approximately $2.41-2.43) per kg (GST extra) and 30 viscose vortex yarn at ₹200-202 (approximately $2.38-2.41) per kg.

In north India, cotton prices have increased due to reports of crop damage in major cotton-producing states such as Gujarat, Maharashtra, Telangana, and Karnataka. Prices have risen by ₹60-70 per maund of 37.2 kg in the last few days. Traders reported that the damage caused by heavy and consistent rains in western and southern states is irreversible. India's cotton sowing has already decreased by around 10 per cent this season, with reports of damage in Pakistan as well. The upward trend in ICE cotton has also supported domestic cotton prices, as ICE cotton took cues from crop losses in India and Pakistan.

Cotton arrival was almost zero in Haryana, Punjab, and Rajasthan. However, stocked cotton was traded between buyers and sellers. In Punjab, cotton prices ranged from ₹5,800 to ₹5,825 (approximately $69.07-69.37) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,700 to ₹5,725 (approximately $67.88-68.17). In upper Rajasthan, cotton was priced between ₹5,525 and ₹5,825 (approximately $65.79-69.37) per maund. Bikaner line cotton sold for ₹5,825 to ₹5,925 (approximately $69.37-70.56) per maund. In lower Rajasthan, cotton was priced at ₹55,300 to ₹58,300 (approximately $658.52-694.25) per candy of 356 kg.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

ALCHEMPro News Desk (KUL)