Cotton yarn prices steady in north India; cotton prices down

North India’s cotton yarn market continues to witness a sluggish trend this week as cotton yarn buying remains rangebound. Limited demand led to a stable trend in cotton yarn prices. There was no movement in the prices in Delhi and Ludhiana. Recycled yarn also remained stable in Panipat, while polyester staple fibre (PSF) prices were increased by RIL. 

Limited buying in Ludhiana caused cotton yarn prices to remain stable. “Cotton yarn demand did not improve in the beginning of this week. There was nothing remarkable happening in Ludhiana’s cotton yarn market,” a trader from the city told Fashion2Fashion. 

North India’s cotton yarn market continues to witness a sluggish trend this week as cotton yarn buying remains rangebound. Limited demand led to a stable trend in cotton yarn prices. There was no movement in the prices in Delhi and Ludhiana. Recycled yarn also remained stable in Panipat, while polyester staple fibre (PSF) prices were increased by RIL.

In Ludhiana, 30 count cotton combed yarn was sold at ₹280-290 per kg (GST inclusive); 20 and 25 count combed yarn were traded at ₹270-280 per kg and ₹275-285 per kg respectively; and carded yarn of 30 count was steady at ₹260-270 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Similarly, cotton yarn prices were steady in Delhi today because of weak demand from the weaving industry. A trader from Delhi market said that export demand was slightly better, but not enough to support the prices. In Delhi market, 30 count combed yarn was traded at ₹280-285 per kg (GST extra), 40 count combed at ₹305-310 per kg, 30 count carded at ₹255-260 per kg and 40 count carded at ₹280-285 per kg. 

Buying was limited in Panipat’s recycled yarn market too, and prices were steady. Traders said that the current month is considered as slump season. Peak season, which is during September-November, also remained bearish due to global economic challenges and weak domestic as well as export demand. 

In Panipat, 10s recycled yarn (white) was traded at ₹88-90 per kg (GST extra). 10s recycled yarn (coloured – high quality) was traded at ₹105-110 per kg, 10s recycled yarn (coloured – low quality) at ₹80-85 per kg and 20s recycled PC coloured (high quality) at ₹110-115 per kg. 30 recycled PC coloured (high quality) was prices at ₹145-150 per kg and 10s optical yarn at ₹100-110 per kg in the market. Comber prices were noted at ₹150-155 per kg and recycled polyester fibre (PET bottle fibre) was noted at ₹80-82 per kg, as per TexPro.  Last week, Reliance Industries Limited has increased price of PSF by ₹3 to ₹105 per kg. with effect from 21 February.

North India’s cotton prices declined as they followed ICE cotton futures. Higher arrival of 18,000 bales of 170 kg each in north India also dampened market sentiments. Cotton prices lost ₹125-150 per maund of 37.2 kg. It was traded at ₹6,325-6,475 per maund in Punjab, ₹6,200-6,300 per maund in Haryana and ₹6,350-6,450 per maund in upper Rajasthan and ₹60,000-61,500 per candy of 356 kg in lower Rajasthan. Traders said that the next few days will decide the market direction. Huge stocks of cotton with farmers may cause prices to decline constantly during the rest of the current season. 

Fibre2Fashion News Desk (KUL)