South India cotton yarn remains steady but gain expected soon

A trader from Mumbai told Fibre2Fashion, “There was weak demand of cotton yarn from downstream industry. Power looms were facing slow buying from garment industry. However, cotton yarn prices may see upward trend as cotton have seen increase in recent days.”

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,425-1,450 and ₹1,310-1,380 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹318-325 per kg, 80 carded weft ₹1,400-1,440 per 4.5 kg, 44/46 carded warp ₹254-263 per kg, 40/41 carded warp ₹242-248 per kg, 40/41 combed warp ₹264-268 and 30/32 carded warp ₹232-237 per kg, according to Fibre2Fashion's market insight tool TexPro.

Tiruppur market also saw steadiness in prices amid average demand. A trader from Tiruppur market told F2F, “The market had seen better buying in the last couple of days which supported yarn prices. However, the trend discontinued and cotton yarn prices steadied later. The prices may see gain as cotton was still traded higher due to increase in ICE cotton.”

In Tiruppur market, cotton yarn prices were noted as: 30 count combed cotton yarn ₹258-262 per kg (excluding GST), 34 count combed cotton yarn ₹265-270 per kg, 40 count combed cotton yarn ₹280-284 per kg, 30 count carded cotton yarn ₹233-236 per kg, 34 count carded cotton yarn ₹238-243 per kg and 40 count carded cotton yarn ₹247-251 per kg, as per TexPro.

Cotton prices were slightly up by ₹200-300 per candy of 356 kg in Gujarat market because of aggressive buying from MNCs. According to the trade sources, MNCs have to cover their commitment of cotton supply which prompted them to buy at increased prices of ₹200-300 per candy. Spinning mills were also active in buying as they expect decline in cotton arrival in the coming weeks. The benchmark Shankar-6 cotton was quoted between ₹55,300-55,500 per candy of 356 kg. Southern mills were intended to buy cotton at ₹56,000-56,300 per candy. The arrival was 38,000-40,000 bales of 170 kg in Gujarat. All India arrival was estimated at 190,000-200,000 bales.

ALCHEMPro News Desk (KUL)