A Ludhiana based trader Ashok Singhal told Fibre2Fashion, “Demand remained very weak as buyers do not want to take risk in current volatile market. Uncertain market conditions and fall in raw material prices led to ease in prices of polyester and blended yarn.” Yarn prices fell by ₹5-10 per kg in last couple of days. Weaker cotton also dampened sentiments in polyester value chain. Singhal said that the price of PTA, MEG and MELT came down further, following the declining trend in China. Indian companies follow Chinese prices of these material. Polyester staple fibre (PSF) may also ease by ₹5-6 per kg due to drop in raw material prices.
In Ludhiana market, polyester-cotton blended yarn and virgin and recycled polyester yarn prices dropped by ₹5-10 per kg. 30 count PC combed yarn (48/52) was sold at ₹280-295 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹260-270 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹190-200 per kg. 30 count poly spun yarn was sold at ₹185-195 per kg and 30 count recycled poly spun yarn at ₹170-175 per kg. High tenacity recycled fibre was priced at ₹95 per kg.
The price of PSF steadied at ₹131 per kg. But the prices are likely to increase next month. India’s dominant manufacturer Reliance Industries Limited fixed prices of raw material as: PTA ₹96.80 (-2.70) per kg, MEG ₹58.50 (-5.10) per kg and MELT at ₹103.14 (-4.05) per kg, as per TexPro.
Meanwhile, cotton prices improved in north India by ₹200-400 per maund of 37.2 kg after a sharp rise in futures trading. According to traders, cotton was sold at ₹8,800-9,200 per maund in Bathinda, ₹8,400-8,800 per maund in Hissar and ₹9,000-9,200 per maund in Sriganganagar market.
Fibre2Fashion News Desk (KUL)
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