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Cotton yarn prices remained steady in Mumbai. “Cotton yarn prices were stable as demand remained weak because of uncertainty in the downstream industry,” Mumbai-based trader Jai Kishan told Fibre2Fashion.
Prices of cotton yarn in south India remained stable today as market sentiments remained weak. Prices were steady in Mumbai. Tiruppur was celebrating Pongal, so no trade took place in the southern market. Traders said that buying reduced, which is why sentiments weakened in yarn trade. However, a rise in export enquiries was witnessed in the region.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,540-1,570 and ₹1,440-1,490 per 5 kg (GST extra) respectively. 60 count combed warp was priced at ₹345-350 per kg; 80 count carded (weft) was sold at ₹1,470-1,490 per 4.5 kg; 44/46 count carded cotton yarn (warp) was priced at ₹285-290 per kg; 40/41 count carded cotton yarn (warp) was sold at ₹272-278 per kg and 40/41 count combed yarn (warp) was priced at ₹292-295 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Tiruppur market witnessed almost no trade because buyers and sellers were absent from the market due to the Pongal festival. The trade may resume tomorrow. Last week in the market, 30 count combed cotton yarn was traded at ₹285-290 per kg (GST extra), 34 count combed at ₹300-305 per kg and 40 count combed at ₹310-315 per kg. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg and 40 count carded at ₹270-275 per kg, as per TexPro.
In Gujarat, cotton was traded at ₹62,000-62,500 per candy of 356 kg. The prices improved after declining last week. According to the traders, arrival did not increase as per the potential demand from exporters and spinners. The ginners received a better response from spinners and merchant exporters. Sources said that export demand was likely to increase soon. Seed cotton (narma) was traded at ₹1,720-1,740 per 20 kg.
Fibre2Fashion News Desk (KUL)
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