The Ludhiana market witnessed a decline of ₹3 per kg in cotton yarn prices. Buyers were not keen on making fresh purchases. Gulshan Jain, a trader from Ludhiana, told Fibre2Fashion, “Fresh violence in Bangladesh and huge fabric imports from China have led to slow demand for cotton yarn. Mills are struggling to maintain cotton yarn mill rates at the current level. Stockists and traders are being forced to reduce prices.”

In Ludhiana, 30 count cotton combed yarn was sold at ₹257-267 (approximately $3.06-3.18) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹247-257 (approximately $2.94-3.06) per kg and ₹252-262 (approximately $3.00-3.12) per kg, respectively; and carded yarn of 30 count was noted at ₹237-242 (approximately $2.82-2.88) per kg today, according to trade sources.

Cotton yarn prices remained steady in the Delhi market amid slow buying. Current market dynamics are not supportive of maintaining prices at the current level, but traders and stockists are trying to hold prices after last week's cut. According to trade sources, the violence in Bangladesh and subsequent developments in Dhaka have worried the domestic textile market. Bangladesh is the most prominent market for Indian fabric and yarn exports, and it is likely to remain paralysed in the coming weeks until normalcy returns in the neighbouring country.

In this market, 30 count combed knitting yarn was traded at ₹262-264 (approximately $3.13-3.15) per kg (GST extra), 40 count combed at ₹282-289 (approximately $3.37-3.45) per kg, 30 count carded at ₹237-239 (approximately $2.83-2.85) per kg, and 40 count carded at ₹262-265 (approximately $3.13-3.18) per kg today.

India’s home textile hub, Panipat market, also witnessed slow demand for recycled yarn and raw materials such as cotton comber and recycled polyester fibre. However, the market saw stability in recycled yarn and raw material prices. Traders stated that demand from the downstream industry has yet to show any improvement this month.

In Panipat, 10s recycled PC yarn (Grey) was traded at ₹80-84 (approximately $0.96-1.01) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.63-0.67) per kg, 20s recycled PC yarn (Grey) at ₹94-100 (approximately 1.13-1.20) per kg and 30s recycled PC yarn (Grey) at ₹130-135 (approximately $1.56-1.62) per kg. Cotton comber prices were noted at ₹96-98 (approximately $1.15-1.17) per kg and recycled polyester fibre (PET bottle fibre) at ₹72-76 (approximately $0.86-0.91) per kg today.

In north India, cotton prices decreased by ₹50 per maund of 37.2 kg due to a downward trend in ICE cotton. ICE cotton opened this week with losses following significant volatility in the previous week. Trade sources said that domestic prices eased as buyers were further discouraged by the declining trend in ICE cotton. Although new arrivals have reduced to almost zero in all the producing states of north India, cotton trade continued as ginners and stockists are selling their stocks. They have had to sell their stocks at lower levels even after waiting for several months. This bearish tone is unusual for the cotton trade during these months, as prices typically rise due to the limited availability of natural fibre.

Cotton arrivals have reduced to negligible levels in all the producing states of Haryana, Punjab, and Rajasthan. However, stocked cotton was traded between buyers and sellers. In Punjab, cotton prices ranged from ₹5,750 to ₹5,775 (approximately $68.52-68.82) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,650 to ₹5,675 (approximately $67.33-67.63). In upper Rajasthan, cotton was priced between ₹5,450-₹5,750 (approximately $64.94-68.52) per maund. Bikaner line cotton sold for ₹5,850 to ₹5,950 (approximately $69.71-70.90) per maund. In lower Rajasthan, cotton was priced at ₹53,500 to ₹56,000 (approximately $637.53-675.66) per candy of 356 kg.

Disclaimer: The prices in this article are based on market sources and hence, readers are recommended to do their own research before making any decision. The publisher and their affiliates are not liable for any inaccuracies or actions taken based on this information.

Fibre2Fashion News Desk (KUL)