Market sources indicated that demand for polyester yarn was particularly sluggish. Manufacturers have raised prices for polyester staple fibre, which has caused difficulties for the spinning and weaving industries. Additionally, tight payment flows have further dampened market demand. In states where voting is yet to take place, heightened security measures have complicated matters for traders who require cash for business transactions.
In the Surat market, demand for polyester yarn has slowed as the wedding season ended. A trader from this market told Fibre2Fashion, "The summer wedding season, which is the only source of demand for fashionable and trendy garments made of polyester fabric, is over. Polyester fabric garments face poor demand from general retail buyers during the summer." Another trader said that the market is only expecting better demand in July.
In Surat, 30 count polyester spun yarn was traded at ₹144-145 (approximately $1.72-1.74) per kg (GST extra); 40 count poly spun yarn at ₹164-165 (approximately $1.92-1.94) per kg; 50/48 fully drawn yarn (FDY) ₹117-118 (approximately $1.40-1.42) per kg; 75/72 FDY ₹107-108 (approximately $1.28-1.30) per kg; 75 bright yarn ₹107-108 (approximately $1.28-1.30) per kg; 30 viscose compact yarn (local) at ₹201-202 (approximately $2.41-2.42) per kg (GST extra), according to trade sources.
The Mumbai market also observed a steady trend in imported viscose vertex yarn and locally manufactured ring spun yarn. A trader said that viscose yarn had seen slightly better demand a few weeks ago, but it also eased down due to weak retail demand. Export demand was also poor due to geopolitical tensions. Imported 30 count viscose vertex yarn was priced at ₹183-188 (approximately $2.19-$2.25) per kg, and local 30 count ring-spun viscose yarn at ₹188-194 (approximately $2.25-$2.32) per kg.
The Ludhiana market experienced contradictory pressures on polyester spun yarn. Trade sources said that domestic manufacturers of polyester staple fibre had increased prices a few weeks ago, despite poor demand from the downstream industry. They are benefitting from the implementation of quality control orders (QCOs) on the polyester value chain.
In Ludhiana, 30 count PC combed yarn (48/52) traded at ₹209-219 (approximately $2.51-2.63) per kg (GST inclusive); 30 count PC carded yarn (65/35) at ₹196-206 (approximately $2.35-2.47) per kg; 20 recycled polyester fibre yarn at ₹106-114 (approximately $1.27-1.36) per kg; 30 count polyester spun at ₹157-165 (approximately $1.88-1.98) per kg (GST inclusive); and recycled polyester fibre (PET bottle fibre) at ₹74-77 (approximately $0.89-0.92) per kg.
In north India, cotton prices further eased amid slow demand from spinning mills. The prices dropped by ₹20-30 per maund of 37.2 kg in the last couple of days. Declining ICE cotton discouraged foreign buyers from purchasing more cotton and yarn from the Indian market, although ICE cotton has seen a recovery today. Traders stated that not only spinning mills but also exporters were silent on fresh buying, as cotton arrivals are decreasing due to the end of the current season.
Today's arrivals decreased to 1,350 bales of 170 kg in north India. State-wise arrivals were as follows: 50 bales in Punjab, 700 bales in Haryana, 300 bales in upper Rajasthan, and 300 bales in lower Rajasthan. Cotton prices in Punjab ranged from ₹5,725 to ₹5,750 (approximately $68.88-$69.18) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,700 to ₹5,750 (approximately $67.98-$69.18). In upper Rajasthan, cotton was priced between ₹5,550 and ₹5,750 (approximately $66.78-$69.18) per maund. Bikaner line cotton sold for ₹5,800 to ₹5,850 (approximately $69.47-$70.49) per maund. In lower Rajasthan, cotton was priced at ₹54,300 to ₹57,300 (approximately $661.21-$685.16) per candy of 356 kg.
ALCHEMPro News Desk (KUL)
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