South Indian cotton yarn prices steady amid market optimism

The Tiruppur market remained steady in terms of cotton yarn prices, but demand was not too weak. A trader from the Tiruppur market told Fibre2Fashion, "Rising ICE cotton prices and slightly better garment export orders, following unrest in Bangladesh, will encourage buying. Mills are holding their stocks in anticipation of higher prices in the coming weeks. The Fed rate cut will also boost economic activities in the US and globally, which may lead to more purchases from global brands and retailers."

In Tiruppur, knitting cotton yarn prices were noted as 30 count combed cotton yarn at ₹268-276 (approximately $3.21-3.30) per kg (excluding GST), 34 count combed cotton yarn at ₹277-284 (approximately $3.31-3.40) per kg, 40 count combed cotton yarn at ₹290-296 (approximately $3.47-3.54) per kg, 30 count carded cotton yarn at ₹242-249 (approximately $2.90-2.98) per kg, 34 count carded cotton yarn at ₹251-255 (approximately $3.00-3.05) per kg and 40 count carded cotton yarn at ₹255-262 (approximately $3.05-3.14) per kg.

Similarly, cotton yarn prices in the Mumbai market also remained unchanged from previous levels. The market saw slightly lower buying activity, but optimism persisted. Market sources suggested that buying would increase in the last week of this month. The festival season and other factors may improve market sentiment, although the market is facing challenges such as a payment crisis and a shift in buying patterns. Buyers are no longer purchasing yarn or fabric for stockpiling but are making limited purchases after clearing their previous stocks.

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,440-1,500 (approximately $17.23-$17.95) and ₹1,320-1,420 per 5 kg (approximately $15.79-$16.99) (excluding GST), respectively. Other prices include 60 combed warp at ₹328-336 (approximately $3.92-$4.02) per kg, 80 carded weft at ₹1,380-1,420 (approximately $16.51-$16.99) per 4.5 kg, 44/46 carded warp at ₹255-265 (approximately $3.05-$3.17) per kg, 40/41 carded warp at ₹254-264 (approximately $3.04-$3.16) per kg and 40/41 combed warp at ₹290-295 (approximately $3.47-3.53) per kg, according to trade sources.

In Gujarat, cotton prices fluctuated within a limited range due to slow demand from spinning mills. Traders noted that cotton prices had not seen significant movement over the last few days. Gujarat’s cotton market seems to be following its own path, independent of ICE cotton trends. Limited buying by spinning mills has not supported cotton yarn prices in line with the healthy gains in ICE cotton.

All-India cotton arrivals were estimated to be no more than 7,000-8,000 bales of 170 kg. The benchmark Shankar-6 cotton was quoted between ₹59,500-59,800 (approximately $711.97-$715.56) per candy of 356 kg, while southern mills were looking to buy cotton at ₹60,000-60,500 (approximately $717.95-$723.93) 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)