Ludhiana market continued to witness a decline in the cotton yarn prices due to a weak demand and bearish trend in the natural fibre. Cotton yarn prices slipped further by ₹3 per kg because buying remained subdued. Traders feel that market trend will not improve until the demand increases. A local trader told Fibre2Fashion, “Demand from downstream is not improving which is the main cause for concern. Cheaper cotton is also responsible for the depressing market sentiments for yarn trade.”
In Ludhiana, 30 count cotton combed yarn was sold at ₹362-367 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 20 and 25 count combed yarn were traded at ₹357-362 per kg and ₹352-357 per kg respectively. Carded yarn of 30 count was quoted at ₹312-327 per kg.
Market sentiments were not better in Delhi either, where cotton yarn prices slipped by ₹5 per kg. However, traders hope that lower prices may attract buyers for stocking. A trader from Delhi market told Fibre2Fashion, “The market does not look encouraging from the current level of buying. It is just witnessing regular demand from the weaving industry. But lower prices may attract buyers sooner or later.”
In the Delhi market, 30 count combed yarn was traded at ₹370-375 per kg (GST extra), 40 count combed at ₹410-415 per kg, 30 count carded at ₹325-330 per kg and 40 count carded at ₹365-370 per kg, as per TexPro.
Panipat’s recycled yarn market also remained bearish as demand was not supportive. But yarn prices were hovering at previous levels. A trader said that both exports and local buying remained weak. Buyers are purchasing for immediate needs due to uncertainty on revival of demand. In the Panipat market, 10s recycled yarn (white) was traded at ₹88-93 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at ₹105-110 per kg, 10s recycled yarn (coloured - low quality) at ₹80-85 per kg and 20s recycled high quality PC yarn (coloured) at ₹110-115 per kg. 30 count recycled yarn was sold at ₹160-165 per kg and 10s optical yarn was traded at ₹100-110 per kg in the market. Comber prices were ruling at ₹135-130 and recycled polyester fibre (PET bottle fibre) remained steady at ₹90-92 per kg.
North India cotton prices slipped due to weak buying from spinning mills. Poor demand from the downstream industry is a cause for concern for the entire textile value chain. Cotton arrival decreased today in Haryana as many brokers went on strike which disrupted mandi arrival. Total arrival in north India, comprising Punjab, Haryana, Upper Rajasthan and Lower Rajasthan, declined to 4,000 bales of 170 kg from last week’s daily arrival of 6,000 bales.
However, forward deals are taking place for September and October delivery. Cotton was traded at ₹7,800-7,900 per maund of 37.2 kg for spot deals. Forward cotton was traded at ₹7,700-7,750 per maund for September and ₹7,400-7,450 per maund for October delivery.
Fibre2Fashion News Desk (KUL)