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The much-awaited improvement in cotton yarn prices was witnessed in Mumbai market today, where prices gained up to ₹10 per kg but demand remained muted. Tiruppur market witnessed better buying from weavers amid slight decrease in prices. Traders said that there was indication of better demand in near future, as empty pipeline will lead to improved buying.
Cotton yarn prices increased after long wait for better sentiments in Mumbai market. A Mumbai-based trader told Fibre2Fashion, “Cotton yarn prices gained as mills and traders were confident of better demand. However, demand is yet to pick up. Buyers are expected to turn up next week.” Mumbai market had witnessed stable trend in the beginning of this week which was seen as positive by the market. 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,760-1,860 and ₹1,610-1,650 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,610-1,630 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,740-1,760 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹315-320 per kg. 40 count combed yarn (warp) was priced at ₹380-400 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Tiruppur market witnessed better buying as the pipeline was emptied. Traders said that buyers are coming to the market because they do not have stock of the raw material. The traders were more confident of improvement in demand. However, yarn prices further declined by ₹2-4 per kg. A trader said that sellers were happy as demand was increasing, and they expect prices to rise next week. 30 count combed cotton yarn was traded at ₹360-364 per kg (GST extra), 34 count combed at ₹370-374 per kg and 40 count combed at ₹375-380 per kg. Cotton yarn of 30 count carded was sold at ₹310-320 per kg, 34 count carded at ₹322-325 per kg and 40 count carded at ₹327-330 per kg, as per TexPro.
In Gujarat, cotton prices weakened due to poor demand from spinners. Buyers were reluctant for buying at current prices. Shankar-6 cotton spot prices were at ₹76,000-86,000 per candy of 356 kg.
Fibre2Fashion News Desk (KUL)
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