“The market is not getting any sign of improvement in demand. Demand remained very weak as buyers do not want to take risk in current volatile market,” a Ludhiana based trader Ashok Singhal told Fibre2Fashion. Traders feel that there was a glut situation of blended and polyester yarn supplies. Many spinners have shifted to non-cotton operation. Sources said that PTA and MEG came down after continued pressure on crude oil. However, PSF and MELT was traded at previous prices.
In Ludhiana market, recycled polyester-cotton yarn prices dropped further up to ₹10 per kg amid sluggish demand. Virgin polyester-cotton blended yarn remained stable. 30 count PC combed yarn (48/52) was sold at ₹270-285 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹240-250 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹180-190 per kg. 30 count poly spun yarn was sold at ₹180-190 per kg. High tenacity recycle fibre was priced at ₹95 per kg.
The price of PSF remained unchanged at ₹127 per kg. Reliance Industries Limited had reduced prices last week and it has fixed prices of raw material as: PTA ₹94.70 (-0.90) per kg, MEG ₹56.80 per kg and MELT at ₹102.44 (-0.70) per kg, as per TexPro.
Cotton prices in the north Indian market dropped further ₹100-200 per maund of 37.2 kg due to poor demand. According to traders, spinning mills are reluctant of fresh buying in bearish market. Cotton was sold at ₹8,800-9,000 in Bathinda, ₹8,000-8,300 in Hissar and ₹8,800-9,000 per maund in Sriganganagar.
ALCHEMPro News Desk (KUL)
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