Cotton yarn prices gained ₹3 per kg in Delhi as stockists and traders passed on the hike in mill rates. The government’s decision to increase the MSP of cotton and the rising trend in ICE cotton prompted spinning mills to raise their selling rates last week. A trader from the Delhi market told Fibre2Fashion, "The market witnessed average demand from fabric manufacturing units. Mills were not too dependent on local demand as they have enough export orders. Cotton yarn buying from the downstream industry was not very encouraging."
In Delhi, 30 count combed knitting yarn was traded at ₹266-268 (approximately $3.19-3.21) per kg (GST extra), 40 count combed at ₹286-293 (approximately $3.43-3.51) per kg, 30 count carded at ₹241-243 (approximately $2.89-2.91) per kg, and 40 count carded at ₹266-269 (approximately $3.19-3.22) per kg today.
However, the Ludhiana market saw stability in cotton yarn prices. The market did not see any major change in demand on the first day of July. According to trade sources, there is no expectation of an overnight rise in demand dynamics. The entire textile value chain is cautious about buying amid slow demand from domestic and international markets.
In Ludhiana, 30 count cotton combed yarn was sold at ₹265-275 (approximately $3.18-3.30) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹255-265 (approximately $3.06-3.18) per kg and ₹260-270 (approximately $3.12-3.24) per kg, respectively; and carded yarn of 30 count was noted at ₹245-250 (approximately $2.94-3.00) per kg today, according to trade sources.
Cotton comber and recycled polyester fibre traded higher by ₹2-3 per kg in the Panipat market. Cotton comber prices rose in line with the natural fibre in the domestic market. Meanwhile, recycled polyester fibre found support from rising virgin polyester staple fibre and its raw materials. However, recycled yarn prices remained steady in the market. Traders expected better lifting of recycled yarn in the new month of July.
In Panipat, 10s recycled PC yarn (Grey) was traded at ₹78-82 (approximately $0.93-0.98) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.64-0.67) per kg, 20s recycled PC yarn (Grey) at ₹90-95 (approximately 1.08-1.14) per kg and 30s recycled PC yarn (Grey) at ₹128-132 (approximately $1.53-1.58) per kg. Cotton comber prices were noted at ₹112-114 (approximately $1.34-1.35) per kg and recycled polyester fibre (PET bottle fibre) at ₹80-84 (approximately $0.96-1.01) per kg today.
In north India, cotton prices have further gained ₹25 per maund of 37.2 kg since late last week. However, it traded flat today in the northern states. Traders said the market is taking cues from ICE cotton and the sowing progress of the domestic cotton crop. Mills are buying cotton as per their immediate requirements. Cotton arrival is reaching an end, so ginners are selling their stock if they get the expected price. According to market estimates, around 70-80 per cent of traded cotton is coming from stocks of ginners, MNCs, and stockists.
Today's arrivals were 500 bales of 170 kg in north India. State-wise arrivals were as follows: 400 bales in Haryana, 50 bales in upper Rajasthan, and 50 bales in lower Rajasthan. Cotton prices in Punjab ranged from ₹5,800 to ₹5,825 (approximately $69.51-69.81) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,700 to ₹5,800 (approximately $68.31-69.51). In upper Rajasthan, cotton was priced between ₹5,525 and ₹5,825 (approximately $66.21-69.91) per maund. Bikaner line cotton sold for ₹5,800 to ₹5,900 (approximately $69.51-70.70) per maund. In lower Rajasthan, cotton was priced at ₹53,800 to ₹56,800 (approximately $644.73-680.68) per candy of 356 kg.
ALCHEMPro News Desk (KUL)
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