South Indian cotton yarn market steady despite weak sentiments

Cotton yarn prices were stable after a rise of ₹2 per kg at the beginning of this week in Mumbai. A trader from Mumbai told Fibre2Fashion, "Cotton yarn prices had increased earlier due to higher production activities following the return of workers and strong ICE cotton supporting the market. However, prices have now steadied after the latest downtrend in ICE cotton."

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,410-1,460 (approximately $16.95-$17.55) and ₹1,280-1,360 per 5 kg (approximately $15.39-$16.35) (excluding GST), respectively. Other prices include 60 combed warp at ₹329-333 (approximately $3.96-$4.00) per kg, 80 carded weft at ₹1,360-1,400 (approximately $16.35-$16.83) per 4.5 kg, 44/46 carded warp at ₹257-262 (approximately $3.09-$3.15) per kg, 40/41 carded warp at ₹252-260 (approximately $3.03-$3.13) per kg, 40/41 combed warp at ₹290-295 (approximately $3.49-$3.55) per kg, and 30/32 carded warp at ₹245-248 (approximately $2.95-$2.98) per kg, according to trade sources.

The Tiruppur market also noted weaker sentiments in cotton yarn trade. Prices remained unchanged due to average demand. Trade sources indicated that buyers were purchasing cotton yarn regularly, but their confidence was dented by the downtrend in ICE cotton. The prospects for improvement in cotton yarn demand slightly weakened. Stronger cotton prices encourage buyers in anticipation of an increase.

In Tiruppur, knitting cotton yarn prices were noted on Thursday as: 30 count combed cotton yarn at ₹268-273 (approximately $3.22-3.28) per kg (excluding GST), 34 count combed cotton yarn at ₹277-282 (approximately $3.32-3.38) per kg, 40 count combed cotton yarn at ₹290-295 (approximately $3.48-3.54) per kg, 30 count carded cotton yarn at ₹239-243 (approximately $2.87-2.92) per kg, 34 count carded cotton yarn at ₹245-249 (approximately $2.94-2.99) per kg and 40 count carded cotton yarn at ₹251-256 (approximately $3.01-3.07) per kg.

In Gujarat, cotton prices were steady amid slow demand due to weaker ICE cotton. Trade sources stated that cotton prices did not see much impact from the declining trend in the global cotton market, as the Indian industry will have to wait 3-4 months for new cotton, and there will be limited cotton availability in the coming months. Cotton arrivals are decreasing day by day.

Cotton arrivals were recorded at 13,000-14,000 bales of 170 kg in Gujarat, with all-India arrivals estimated at 35,000-40,000 bales. In Gujarat, the benchmark Shankar-6 cotton was quoted between ₹57,000-57,500 (approximately $685.30-$691.32) per candy of 356 kg, while southern mills were looking to buy cotton at ₹57,500-58,000 (approximately $691.32-$697.33) 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)