South India cotton yarn steady amid buyer caution, market uncertainty

In the Mumbai market, cotton yarn prices remained stable after a steep rise last week. Buyers are hesitant to purchase at higher prices. A trader from the Mumbai market told Fibre2Fashion, "The market seems to be reversing. Buyers will only return once they clear their previous stocks, avoiding risks in the current uncertain market.” Power looms are only producing fabric when there is confirmed demand and are avoiding speculative production.

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,390-1,450 (approximately $16.55-$17.27) and ₹1,280-1,380 per 5 kg (approximately $15.24-$16.44) (excluding GST), respectively. Other prices include 60 combed warp at ₹318-322 (approximately $3.79-$3.83) per kg, 80 carded weft at ₹1,310-1,350 (approximately $15.60-$16.08) per 4.5 kg, 44/46 carded warp at ₹246-262 (approximately $2.93-$3.12) per kg, 40/41 carded warp at ₹241-249 (approximately $2.87-$2.97) per kg and 40/41 combed warp at ₹280-285 (approximately $3.33-3.39) per kg, according to trade sources.

Similarly, the Tiruppur market also saw stability in cotton yarn prices, with most spinning mills not revising their mill rates for the current month, indicating a struggle with demand. Cotton prices have risen in the past two weeks, increasing production costs. According to traders, the market saw limited demand after last week’s price rise. Uncertainty and buyer caution have deterred any upward movement in cotton yarn prices.

In Tiruppur, knitting cotton yarn prices were noted as 30 count combed cotton yarn at ₹264-272 (approximately $3.14-3.24) per kg (excluding GST), 34 count combed cotton yarn at ₹274-281 (approximately $3.26-3.35) per kg, 40 count combed cotton yarn at ₹289-294 (approximately $3.44-3.50) per kg, 30 count carded cotton yarn at ₹239-246 (approximately $2.85-2.93) per kg, 34 count carded cotton yarn at ₹248-252 (approximately $2.95-3.00) per kg and 40 count carded cotton yarn at ₹252-258 (approximately $3.00-3.07) per kg.

In Gujarat, cotton prices remained unchanged despite last week’s increase due to limited availability. Traders noted that cotton arrivals were still slow due to ongoing rains, which have not yet pushed up prices. Spinning mills are cautious about fresh purchases.

All-India cotton arrivals were estimated at no more than 4,000-5,000 bales of 170 kg. The benchmark Shankar-6 cotton was quoted between ₹57,500-58,000 (approximately $684.82-$690.77) per candy of 356 kg, while southern mills were looking to buy cotton at ₹58,500-59,000 (approximately $696.73-$702.68) per candy.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

ALCHEMPro News Desk (KUL)