Ashok Singhal, a trader from Ludhiana, told Fibre2Fashion, “The industry is looking for cheaper alternate because cotton yarn and PC yarn have become unviable after steep price rise. Recycled fibre is the cheapest alternate for consuming units, and they are turning to the material.” The price of 20 count PC (recycled-O/E) PSF yarn (40/60) increased by ₹5 per kg on strong demand.
According to trade sources, recycled fibre and yarn demand will pick in the weeks to come. It is because the prices of both cotton yarn and PC yarn have increased so high that garment manufacturers are struggling hard to continue production. On the other hand, acrylic yarn lost ₹10 per kg as demand slowed down. Traders said that acrylic yarn is mostly used in winter wear which is currently not in demand due to the ongoing summer season.
In Ludhiana market, 30 count PC combed yarn (48/52) was sold at ₹285-305 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹265-270 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹210-215 per kg. 30 count poly spun yarn was sold at ₹190-200 and recycled 30 count poly spun yarn at ₹175-185 per kg. Acrylic NM (2/48) was priced at ₹320-330 per kg, while acrylic NM (2/32) was at ₹275-285 per kg.
The price of PSF remained unchanged at ₹123 per kg. Reliance Industries Limited (RIL) has fixed prices of raw material as: PTA ₹95.80 per kg (up ₹3.40), MEG ₹61.50 per kg (up ₹0.20) and MELT at ₹103.30 per kg, as per TexPro.
In the global market, ZCE cotton yarn September 2022 futures traded lower by CNY 25 to CNY 27,690 per ton and January 2023 traded down by CNY 90 at CNY 27,670 per MT today. ZCE cotton September lost CNY 70 to CNY 21,360 per MT and January 2023 contract traded down by CNY 10 to CNY 21,025 per MT. ICE cotton futures settled lower on Tuesday after recent rally. ICE cotton July contract slipped 1.27 per cent to US cent 146.57 per pound.
Indian cotton futures increase further due to supply issue. MCX May cotton future contract rose by ₹130 to ₹49,350 per bale of 170 kg. June contract also found support from strong buying from investors.
Fibre2Fashion News Desk (KUL)
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