PC, polyester & viscose yarn remain bearish in India; prices decline

The Ludhiana market experienced a continued decline in PC yarn prices, with poly spun yarn remaining stable amid weak demand. PC yarn prices dropped by ₹2-4 per kg, and poly spun yarn by ₹1-2 per kg. A trader from the Ludhiana market told Fibre2Fashion, "Both domestic and export demands for PC and polyester spun yarn have been very poor. Traders and mills are under pressure to lower prices. The payment crisis has arisen due to heavy imports of fabric and garments. Buyers must pay in advance for imports, whereas local market purchases can be made on credit." 

PC yarn prices in the Ludhiana market fell by ₹2-4 per kg. According to Fibre2Fashion's TexPro, 30 count PC combed yarn (48/52) traded between ₹186-196 per kg, inclusive of GST; 30 count PC carded yarn (65/35) sold for ₹172-182 per kg; and 30 count poly spun yarn was priced at ₹151-161 per kg, GST inclusive, in the north Indian market. Recycled polyester fibre, also known as PET bottle fibre, was quoted at ₹67-70 per kg. 

The Surat market also observed a drop of ₹2-4 per kg in polyester spun and viscose yarn prices. Traders expressed concerns that the market might not recover soon as the winter season is nearing its end, a period when polyester yarn typically sees better demand. Consumers tend to have no issues with polyester garments during the winter. In the current market, 30 count poly spun yarn traded at ₹130-132 per kg, plus GST, while 40 count poly spun yarn was priced at ₹145-147 per kg. Additionally, 30 count viscose compact yarn (local) traded at ₹195-198 per kg, excluding GST, in Surat. 

Viscose yarn prices in the Mumbai market also fell by ₹2-3 per kg due to very weak demand from spinning mills. Trade sources mentioned that Tamil Nadu-based spinners are set to shut down for Diwali and will resume production after 10-15 days. However, heavy stocks held by mills and stockists are expected to prevent any upward movement in prices. Imported viscose vertex yarn was priced at ₹183-188 per kg, while local ring-spun viscose yarn was quoted at ₹191-195 per kg, according to TexPro. 

Cotton prices in north India have further declined, influenced by a dip in ICE cotton and cautious purchasing by spinning mills. Prices softened by ₹20-30 per maund (37.2 kg) as the market echoed the bearish trends of ICE cotton. Traders reported that spinning mills were bidding lower prices for cotton following the ease in ICE. Despite this, the global cotton benchmark remained positive in the Asian trading session on Wednesday. Cotton arrivals held steady at 30,000 bales of 170 kg across the region. State-wise arrivals were reported as 1,000 bales from Punjab, 9,000 from Haryana, 9,000 from upper Rajasthan, and 11,000 from lower Rajasthan. In Punjab, prices ranged from ₹5,475-5,575, in Haryana from ₹5,460-5,560, and in upper Rajasthan from ₹5,350-5,570 per maund. Bikaner line cotton fetched ₹100-140 per maund more than Shri Ganganagar line in upper Rajasthan. Prices in lower Rajasthan were recorded at ₹53,000-54,500 per candy of 356 kg. 

ALCHEMPro News Desk (KUL)