PC yarn prices remain steady in Ludhiana amid bearish trend downstream

“Yarn market is facing psychological pressure because of higher prices. Although PC yarn prices had witnessed price rise about two weeks ago, the market could not move ahead. Garment manufacturers were also reluctant for production in big way,” a Ludhiana-based trader told Fibre2Fashion.

According to traders, buyers are very cautious for fresh buying due to higher prices. They were not sure about demand of fabrics produced with costlier yarn. Steady trend in intermediary products of polyester also kept PC yarn at previous level.

In Ludhiana, 30 count PC combed yarn (48/52) was sold at ₹295-310 per kg (GST extra). 30 count PC carded yarn (65/35) was priced at ₹260-270. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹190-195 per kg, according to Fibre2Fashion’s market insight tool TexPro. Acrylic NM (2/48) was priced at ₹315-320 per kg and Acrylic NM (2/32) at ₹280-290 per kg. PSF also remained unchanged at ₹123 per kg. Reliance Industries Limited (RIL) kept prices of raw material unchanged as: MELT at ₹99.52 per kg, PTA ₹90.80 per kg and MEG ₹63.80 per kg. Meanwhile, global oil benchmark Brent crude futures rose 6.26 per cent to $104.64 per barrel.

In the global market, ZCE cotton yarn May 2022 futures traded higher by CNY 245 to CNY 27,555 per ton and September 2022 traded up by CNY 390 at CNY 28,105 per MT today. ZCE cotton May gained CNY 185 to CNY 21,200 per MT and September contract traded up by CNY 145 to CNY 21,365 per MT. ICE cotton futures extended triple digit rally on Tuesday, boosted by mill fixations and supply concerns amid a drought in key growing regions. Cotton contract for May 2022 closed at 138.51 cents, up 322 points; July 2022 closed at 137.45 cents, up 400 points; December 2022 closed at 120.03 cents, up 241 points.

In north India, cotton prices surged by ₹900-1,000 per candy of 356 kg each for the second straight session on Wednesday amid continued demand from mills, while daily arrivals remained stable. In Punjab, cotton was quoted at ₹92,000 to 93,200 per candy. In Haryana, the prices were hovering at ₹90,200 to 92,400 per candy. In Upper Rajasthan, cotton was sold at ₹92,800 to 93,500 per candy. In Lower Rajasthan, cotton prices were noted at ₹87,600 to 89,500 per candy.

Fibre2Fashion News Desk (KUL)