Thin trade in cotton yarn in Mumbai; Tiruppur remains closed

A broker from Mumbai told Fibre2Fashion, “There was very limited trade in cotton yarn in Mumbai as buyers were reluctant to buy at higher prices.” Millers are increasing selling prices to pass on the price rise of cotton. But market prices of yarn are ruling lower because stockists and traders are selling previously bought old stock. There is difference of around ₹10-20 per kg between market price and millers’ rate.

In Mumbai market, yarn prices remained stable today. 60 count carded cotton yarn of warp and weft varieties were traded at ₹2,150-2,250 and ₹1,900-2,050 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,950-2,050 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹2,100-2,150 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹361-367 per kg, while 40 count combed yarn (warp) was priced at ₹405-425 per kg.

In the global market, ZCE cotton yarn September 2022 futures traded up by CNY 135 to CNY 27,715 per ton and January 2023 contract gained CNY 235 to CNY 27,760 per MT today. ZCE cotton September contract gained CNY 165 to CNY 21,430 per MT and January 2023 contract was traded up by CNY 195 at CNY 21060 per MT.

ICE cotton futures recorded sharp rise of 404-545 basis points on Monday due to support from other global markets. Cotton contracts for July rose 545 points to 150.65 cents per pound. October contract traded at US cent 139.61 per pound with gains of 491 basis points.

In Gujarat, cotton prices remained steady. However, the price of kapas (unginned cotton) went up. Daily arrival was estimated at 10,000 bales (of 170 kg each) in the state while national arrival was around 25,000 bales. A-grade cotton was traded at ₹110,000 to ₹111,000 per candy of 356 kg, while average grade cotton was at ₹105,000 to ₹106,500 per candy.

Fibre2Fashion News Desk (KUL)