Recycled PC yarn prices down in India, mills may cut production

Spot buying from weaving industry was still very weak in polyester-cotton yarn and polyester yarn market. Recycled PC yarn prices registered a declining trend as prices dropped by ₹10 per kg. However, most counts and varieties of virgin PC yarn were sold at last prices. According to trade sources, many spinning mills may further cut production. 

“The market is not getting any sign of improvement in demand. Demand remained very weak as buyers do not want to take risk in current volatile market,” a Ludhiana based trader Ashok Singhal told Fibre2Fashion. Traders feel that there was a glut situation of blended and polyester yarn supplies. Many spinners have shifted to non-cotton operation. Sources said that PTA and MEG came down after continued pressure on crude oil. However, PSF and MELT was traded at previous prices. 

Spot buying from weaving industry was still very weak in polyester-cotton yarn and polyester yarn market. Recycled PC yarn prices registered a declining trend as prices dropped by ₹10 per kg. However, most counts and varieties of virgin PC yarn were sold at last prices. According to trade sources, many spinning mills may further cut production.

In Ludhiana market, recycled polyester-cotton yarn prices dropped further up to ₹10 per kg amid sluggish demand. Virgin polyester-cotton blended yarn remained stable. 30 count PC combed yarn (48/52) was sold at ₹270-285 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹240-250 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 ₹180-190 per kg. High tenacity recycle fibre was priced at ₹95 per kg. 

The price of PSF remained unchanged at ₹127 per kg. Reliance Industries Limited had reduced prices last week and it has fixed prices of raw material as: PTA ₹94.70 (-0.90) per kg, MEG ₹56.80 per kg and MELT at ₹102.44 (-0.70) per kg, as per TexPro. 

Cotton prices in the north Indian market dropped further ₹100-200 per maund of 37.2 kg due to poor demand. According to traders, spinning mills are reluctant of fresh buying in bearish market. Cotton was sold at ₹8,800-9,000 in Bathinda, ₹8,000-8,300 in Hissar and ₹8,800-9,000 per maund in Sriganganagar. 

Fibre2Fashion News Desk (KUL)