A trader from Mumbai told Fibre2Fashion, “Demand was better earlier this week. Therefore, yarn prices improved slightly. But buyers backtracked again as they are uncertain about demand from weaving industry.” According to sources, more powerloom owners have shut down production owing to weaker buying and uncertainty. Spinning mills are not reducing yarn prices which is also a discouraging factor.
In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,960-2,010 and ₹1,880-1,930 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,850-1,880 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,910-1,950 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹355-362 per kg. 40 count combed yarn (warp) was priced at ₹410-425 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Trade sources from Tiruppur said that there is hope for better demand next month. However, since no one is sure about the same, buyers are silent in the entire value chain. Yarn and cloth trader Purusottam Parmanandka said that buyers are hesitant for fresh buying due to uncertainty. “There is time lag of two months to produce garments from yarn, but nobody wants to bet on future demand in the current scenario.”
In Tiruppur market, cotton yarn prices remained stable after falling early this week. 30 count combed cotton yarn was traded at ₹395-400 per kg (GST extra), 34 count combed at ₹415-420 per kg and 40 count combed at ₹425-430 per kg. Cotton yarn of 30 count carded was sold at ₹360-365 per kg, 34 count carded at ₹370-375 per kg and 40 count carded at ₹375-380 per kg, as per TexPro.
In Gujarat, cotton prices witnessed steady trend in prices. Traders said that spinning mills remained bearish for fresh buying. Cotton was traded at ₹97,000-101,000 per candy of 356 kg in the state.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
