South India cotton yarn steady amid demand uncertainty, global unrest

Mumbai market witnessed slow demand due to uncertainty regarding the future export demand for garments. A trader from Mumbai informed Fibre2Fashion, "Exports and local demand for cotton yarn were weak. Buyers were cautious about new purchases as they were unsure about demand from the downstream industry. Global tensions, as well as the general election in India, led to limited buying from the fabric industry. Spinning mills were not under pressure to sell their stock. Therefore, they did not reduce yarn prices.”

In Mumbai, 60-carded yarn of warp and weft varieties were sold at ₹1,460-1,500 (approximately $17.47-$17.95) and ₹1,380-1,440 per 5 kg (approximately $16.51-$17.23) (excluding GST), respectively. Other prices include 60 combed warp at ₹337-342 (approximately $4.03-$4.09) per kg, 80-carded weft at ₹1,460-1,500 (approximately $17.47-$17.95) per 4.5 kg, 44/46-carded warp at ₹262-270 (approximately $3.18-$3.23) per kg, 40/41-carded warp at ₹265-270 (approximately $3.17-$3.23) per kg, 40/41 combed warp at ₹296-302 (approximately $3.54-$3.61) per kg, and 30/32-carded warp at ₹252-257 (approximately $3.02-$3.08) per kg, according to trade sources.

The Tiruppur market was closed today as several parliamentary seats in Tamil Nadu, including Tiruppur, were scheduled for voting. Stability in cotton yarn prices was noted in Tiruppur.

In Tiruppur, cotton yarn prices on Thursday were as follows: 30 count combed cotton yarn at ₹270-275 (approximately $3.23-3.29) per kg (excluding GST), 34 count combed cotton yarn at ₹280-285 (approximately $3.35-3.41) per kg, 40 count combed cotton yarn at ₹290-295 (approximately $3.47-3.53) per kg, 30 count carded cotton yarn at ₹244-249 (approximately $2.92-2.98) per kg, 34 count carded cotton yarn at ₹254-258 (approximately $3.04-3.09) per kg and 40 count carded cotton yarn at ₹260-265 (approximately $3.11-3.17) per kg, as per market sources.

In Gujarat, cotton prices further decreased by ₹1,400-1,500 per candy of 356 kg amid slow demand and a consistent fall in ICE cotton prices. A strong dollar and global uncertainty were negative factors for global cotton prices. A similar trend was noticed in the domestic market. Spinning mills were absent from the market as they awaited stability in cotton prices. Cotton arrivals were recorded at 19,000-20,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 57,000-58,000 bales. In Gujarat, the benchmark Shankar-6 cotton was quoted between ₹57,500-58,500 (approximately $688.91-$700.89) per candy of 356 kg, while southern mills were looking to buy cotton at ₹59,000-59,500 (approximately $706.88-$712.88) 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)