Uncertainty looms in north India's yarn market, prices down in Delhi

In Delhi, demand continued to remain weak, and mills continued to face disparity. Buyers were reluctant to make fresh deals due to the uncertainly surrounding future buying. “Weavers were buying cotton yarn only to fulfil their immediate needs. No one wants to take the risk of booking larger quantities due to the uncertainty of the market scenario,” a trader from Delhi market told Fibre2Fashion. 

In the market, 30 count combed yarn was traded at ₹305-310 per kg (GST extra), 40 count combed at ₹335-340 per kg, 30 count carded at ₹285-290 per kg and 40 count carded at ₹320-325 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Ludhiana market’s cotton yarn prices were steady today as buyers’ interest remained low and they preferred to wait and watch to avoid losses. A trader from Ludhiana market echoed the concerns of Delhi-based traders. “Buyers are not sure about the future buying scenario and no one wants to take any risk in the current market situation. Spinners want to increase yarn prices to cover the cost gap, but the current bearish trend is making it difficult to even support the present prices,” the trader told Fibre2Fashion.

In Ludhiana, 30 count cotton combed yarn was sold at ₹290-300 per kg (GST inclusive). 20 and 25 count combed yarn were traded at ₹280-290 per kg and ₹285-295 per kg respectively. Carded yarn of 30 count steadied at ₹265-275 per kg, as per TexPro. 

Panipat’s recycled yarn market continued to witness a bearish trend due to weak demand from end consumers. Cotton comber, recycled fibre and yarn of some of the counts and varieties were sold lower due to a lack of buying interest. Cotton comber decreased by ₹5 per kg to reach ₹135-140 per kg. Recycled polyester fibre also eased by ₹2 per kg. 10s recycled yarn (white) was traded at ₹90-95 per kg (GST Extra). 10s recycled yarn (coloured - high quality) was traded at ₹105-110 per kg, 10s recycled yarn (coloured - low quality) at ₹80-85 per kg and 20s recycled PC coloured (high quality) at ₹105-110 per kg. 30 recycled PC coloured (high quality) ₹145-150 per kg. 10s optical yarn was priced at ₹100-110 per kg in the market. Comber prices were ruling higher at ₹135-140 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹80-81 per kg. 

North India’s cotton prices strengthened by ₹50-70 per maund of 37.2 kg due to increase in future trade. The arrival was stagnant at 21,000 bales of 170 kg in the region. Last week, the arrival increased which led to low cotton prices. But farmers backtracked again on unattractive prices. According to local traders, demand from spinning mills was also better as they wanted to stock up for the full year. Cotton was traded at ₹6,650-6,750 in Punjab, ₹6,570-6,670 in Haryana and ₹6,820-6,870 per maund in upper Rajasthan. Cotton was sold at ₹65,500-66,500 per candy of 356 kg in lower Rajasthan. 

ALCHEMPro News Desk (KUL)