Polyester, PC yarn prices steady in north India on slow buying


Polyester and polyester-cotton yarn were traded steady in Ludhiana market today as weaker demand and possibility of reduction in polyester staple fibre (PSF) prices dampened market sentiments. Last week, Ludhiana market noted better demand, but better similar sentiments could not sustain this week. RIL is expected to reduce PSF prices this week.

According to trade sources, buyers again slowed down buying as market was facing cash crunch. A Ludhiana-based trader told Fibre2Fashion, “Payment conditions were tight which impacted demand and market sentiments. Not only PC and polyester, but also cotton yarn buying remained limited.”

Polyester and polyester-cotton yarn were traded steady in Ludhiana market today as weaker demand and possibility of reduction in polyester staple fibre (PSF) prices dampened market sentiments. Last week, Ludhiana market noted better demand, but better similar sentiments could not sustain this week. RIL is expected to reduce PSF prices this week.

Last week, Reliance Industries Limited (RIL) had reduced prices of raw material of PSF after decline in China market. There is possibility that RIL may cut PSF prices by ₹4-5 per kg on August 15. The company reviews PSF price periodically, while it revises prices of raw material on a weekly basis.

In Ludhiana market, polyester-cotton and polyester yarn prices remained stable due to muted demand and possibility of correction in prices of polyester fibre. 30 count PC combed yarn (48/52) was sold at ₹260-274 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹220-230 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹180-190 per kg. 30 count poly spun yarn was sold at ₹175-187 per kg. High tenacity recycled fibre was priced at ₹88-92 per kg.

RIL had earlier decreased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. On last Friday, RIL fixed prices of raw material as: PTA ₹85.20 (-2.90) per kg, MEG ₹53.70 per kg (-2.30) and MELT at ₹91.53 (-3.28) per kg. The company had earlier fixed price of PSF at ₹120 per kg.

Meanwhile, cotton prices in north India jumped by 5-6 per cent in one day as spot sellers quoted higher prices after steep rise in futures trading. According to traders, there was very thin trade due to negligible availability of cotton. But spot market prices gained ₹500-600 per maund of 37.2 kg. Cotton was sold at ₹10,000-10,200 per maund in Punjab, ₹9,500-10,000 per maund in Haryana and ₹11,000 -11,200 per maund in upper Rajasthan. Cotton was sold at ₹91,000-93,000 per candy of 356 kg in lower Rajasthan.

Fibre2Fashion News Desk (KUL)




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