“Today, there were very limited buying enquiry because buyers were still busy in reconciliation of books as financial year ended yesterday. But trading activities will improve from next week,” a Delhi-based trader told Fibre2Fashion.

Traders expect that yarn demand will improve in the entire north Indian market including Delhi and Ludhiana because weaving units will have to buy yarn to fulfil summer clothing demand. Traders accept that higher yarn prices made buyers uncomfortable and cautious, but they are optimistic that there will be fresh buying to cater to future demand.

In north India, cotton yarn prices saw a steep rise of ₹40-50 per kg in the last week. In Ludhiana, 20 and 25 count cotton yarn in combed variety were traded at ₹370-380 and ₹385-405 per kg respectively. 30 count combed yarn was also sold at ₹410-420 per kg. Carded yarn of 30 count was quoted at ₹355-375 per kg, according to Fibre2Fashion’s market insight tool TexPro.

In Delhi, 30 count combed yarn was traded at ₹390-400 per kg, 40 count combed at ₹430-450 per kg, 30 count carded at ₹335-340 per kg and 40 count carded at ₹400-410 per kg, as per TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, while 16 count weaving (O/E) at ₹160-165 per kg.  

Panipat, a major hub of furnishing textile, also expects export demand in the days to come because of seasonal slump trend in domestic market which picks up in Diwali season. Sanjiv Davar, a yarn trader from Panipat, said that export demand is expected to improve in near future. The US and the Gulf regions are major markets for bedsheets and other furnishing item supplied from Panipat. Europe is also prominent market for these items, but some regions are disturbed due to the ongoing Russia-Ukraine war.

In Panipat market, 10s recycled yarn (white) was traded at ₹100-110 per kg, 10s recycled yarn (coloured - high quality) at ₹100-105 per kg, 10s recycled yarn (coloured - low quality) at ₹75-80 per kg and 20s recycled yarn (coloured) at ₹130-145 per kg. 10s optical yarn was traded at ₹125-130 per kg in the market.  

In the global market, ZCE cotton yarn May 2022 futures traded up by CNY 10 to CNY 28,330 per ton and September 2022 traded higher by CNY 20 at CNY 28,325 per MT today. ZCE cotton March lost CNY 30 and dropped to CNY 21,725 per MT and May contract traded down CNY 75 to CNY 21,075 per MT.

ICE cotton futures edged lower on Thursday, driven down by a stronger dollar and some investors locked in profits following a rise the day before. Cotton contract for May 2022 closed at 135.69 cents, down 415 points; July 2022 closed at 132.07 cents, down 413 points; December 2022 closed at 111.28 cents, down 116 points. 

In North India, cotton prices softened by ₹300-400 per candy of 356 kg on Friday amid sluggish demand from mills, while daily arrivals improved in the mandis of these states. Bearish trend in ICE cotton also dampened sentiments in the Indian market. In Punjab, cotton was quoted at ₹88,700-89,400 per candy. In Haryana, the prices were hovering at ₹86,400-88,400 per candy. In Upper Rajasthan, cotton was priced at ₹89,000-89,400 per candy. In Lower Rajasthan, cotton was sold at ₹83,000-85,000 per candy.

Fibre2Fashion News Desk (KUL)