Cotton yarn gains up to₹10/ kg in Mumbai, Better buying in south India




Southern India noted better buying in cotton yarn as weavers rushed to replenish their stocks. Cotton yarn prices gained ₹2-10 per kg in Mumbai as demand support market sentiments. However, Tiruppur did not see any prices in cotton yarn as traders were waiting for price revision by spinning mills on coming Monday. The market has great hope for demand in August.

Cotton yarn prices continued upward trend as Mumbai market noted better buying from power loom owners. cotton yarn prices have gained ₹2-10 per kg. A broker told Fibre2Fashion, “Cotton yarn prices gained as buyers came up in the market to replenish their stocks. They rushed to the market as they did not buy yarn for long.”

Southern India noted better buying in cotton yarn as weavers rushed to replenish their stocks. Cotton yarn prices gained ₹2-10 per kg in Mumbai as demand support market sentiments. However, Tiruppur did not see any prices in cotton yarn as traders were waiting for price revision by spinning mills on Monday. The market has great hope for demand in August.

According to trade sources, fabric stocks were also depleting as large number of power looms remained closed for long time. Better buying prospects also encouraged weavers for new purchases of yarn. 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,780-1,880 and ₹1,640-1,680 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,700-1,750 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,760-1,780 per 4.5 kg. 40/41 count carded cotton yarn (warp) was sold at ₹325-332 per kg. 40/41 count combed yarn (warp) was priced at ₹410-440 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Tiruppur market noted steady trend in cotton yarn prices. But demand was slightly better as limited buying was visitable in the market. Traders said that the market remained in wait and watch mode as traders want to see new sale prices from spinning mills in next month. Normally, mills revise selling prices on first trading day of the month. Therefore, cotton yarn prices are likely to be revised on Monday. A prominent trader said that mills are incurring a loss of around 15 per cent in selling yarn on current prices as cotton prices are hovering at very high. Higher cost demands price hike but demand was not supportive. Yarn prices are noted at previous levels. 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 improved slightly while demand was average from spinners. However, the market found support from stronger ICE cotton and domestic cotton futures. Cotton prices increased 1000-1200 per candy of 356 kg. Shankar-6 cotton was traded at ₹77,000-87,200 per candy of 356 kg in spot market of Gujarat.

Fibre2Fashion News Desk (KUL)





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