Cotton yarn gained by ₹5 per kg in Ludhiana market as mills have increased their selling prices. According to trade sources, mills are increasing yarn prices because they are trying to pass on higher cost of production. However, weaving industry and garment manufacturers feel that higher cost of production can discourage end-users. A local trader Gulshan Jain told Fibre2Fashion that cotton and cotton yarn prices are likely to remain bullish due to short supply. But the prices can come down if the government bans cotton export. A policy decision for export ban will put psychological pressure and stockists will be forced to sell their stock in domestic market.
In Ludhiana, cotton yarn prices increased by ₹5 per kg. 30 count cotton combed yarn was sold at ₹430-435 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 20 and 25 count combed yarn were traded at ₹405-410 per kg and ₹415-425 per kg respectively. Carded yarn of 30 count was quoted at ₹360-365 per kg.
A trader from Delhi market said that demand was sluggish today, but better lifting was noted in the last one fortnight. Mills are increasing their selling rates to protect margin. Cotton yarn prices for combed variety increased by ₹5-10 per kg. But carded yarn was sold at previous rates. In Delhi market, 30 count combed yarn was traded at ₹405-425 per kg (GST extra), 40 count combed at ₹445-466 per kg, 30 count carded at ₹365-375 per kg and 40 count at ₹405-415 per kg.
Panipat recorded steady trend in recycled yarn trade as industrial activities remained poor due to power shortage. A trader said that yarn market was not getting support either from export or from local buyers. In Panipat market, 10s recycled yarn (white) was traded at ₹105-115 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at ₹130-140 per kg, 10s recycled yarn (coloured - low quality) at ₹90-100 per kg and 20s recycled PC yarn (coloured) at ₹170-180 per kg. 10s optical yarn was traded at ₹125-130 per kg in the market.
In the global market, ZCE cotton yarn May 2022 futures traded down by CNY 110 to CNY 26,600 per ton and September 2022 sold lower by CNY 240 at CNY 27,500 per MT today. ZCE cotton May lost CNY 235 to CNY 21,465 per MT and September contract traded down CNY 215 to CNY 21,275 per MT.
In north India, cotton prices held steady on Monday as demand from spinning mills remained limited, while daily arrivals stayed unchanged. In Punjab, cotton was quoted at ₹95,000 to ₹97,000 per candy of 356 kg. In Haryana, cotton was priced at ₹92,000 to ₹95,500 per candy. In Upper Rajasthan, cotton prices were ruling at ₹95,800 to ₹97,000 per candy. In Lower Rajasthan, cotton was traded at ₹92,500 to ₹94,400 per candy.
Fibre2Fashion News Desk (KUL)
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