The Ludhiana market saw a further drop of ₹3 per kg as slow demand forced stockists to reduce their offer prices. Most counts and varieties of cotton yarn were sold lower. Gulshan Jain, a trader from the Ludhiana market, told Fibre2Fashion, "Not only higher imports of fabric and garments but also slow manufacturing activities have dented market sentiments. Buyers were avoiding purchasing cotton yarn even for a short time. They are buying just for immediate need as they do not expect a rise in the material. However, export demand for cotton yarn was not so poor.”
In Ludhiana, 30 count cotton combed yarn was sold at ₹262-272 (approximately $3.14-3.26) per kg (inclusive of GST); 20 and 25 count combed yarn were traded at ₹252-262 (approximately $3.02-3.14) per kg and ₹257-267 (approximately $3.08-3.20) per kg, respectively; and carded yarn of 30 count was noted at ₹242-247 (approximately $2.90-2.96) per kg today, according to trade sources.
Cotton yarn prices dropped ₹2 per kg in the Delhi market. There was thin trade today as several manufacturing units were closed because Muslim workers were on holiday for their festival. The prices came down due to slow demand. Trade sources said that cotton yarn prices were lowered as stockists and traders were offering it at low prices amid weak demand. However, mills did not decrease prices of cotton yarn in the last couple of days.
In Delhi, 30 count combed knitting yarn was traded at ₹263-265 (approximately $3.15-3.17) per kg (GST extra), 40 count combed at ₹283-290 (approximately $3.39-3.47) per kg, 30 count carded at ₹238-240 (approximately $2.85-2.87) per kg, and 40 count carded at ₹263-266 (approximately $3.15-3.18) per kg today.
However, recycled yarn was traded steadily in India’s home textile hub Panipat. The market is facing prolonged bearish demand from the downstream industry. Trade sources said that the home textile segment has not performed well for the last couple of years. Export demand has been continuously weak after the explosion of demand during COVID. Local demand was not enough to consume recycled yarn, but the demand is slightly better from the garment industry. The demand from garment manufacturers producing small items diverted to recycled yarn after the rise in virgin fibre-based yarn.
In Panipat, 10s recycled PC yarn (Grey) was traded at ₹78-82 (approximately $0.94-0.98) per kg (GST paid). Other varieties and counts were noted at 10s recycled PC yarn (Black) at ₹53-56 (approximately $0.64-0.67) per kg, 20s recycled PC yarn (Grey) at ₹90-95 (approximately 1.08-1.14) per kg and 30s recycled PC yarn (Grey) at ₹128-132 (approximately $1.54-1.58) per kg. Cotton comber prices were noted at ₹108-110 (approximately $1.29-1.32) per kg and recycled polyester fibre (PET bottle fibre) at ₹76-81 (approximately $0.91-0.97) per kg today.
In north India, cotton prices were bearish amid slow demand and a downtrend in ICE cotton on Monday. Cotton eased by ₹25 per maund of 37.2 kg. Traders said that local demand was limited. Cotton arrival and stocks are falling. The demand from the consumer industry was not enough to absorb even limited availability. ICE cotton was also bearish and remained unsupportive for local trade.
Today’s arrival was 600 bales of 170 kg in north India. State-wise arrivals were noted as Haryana 500 bales, upper Rajasthan 50 bales, and lower Rajasthan 50 bales. Cotton prices in Punjab ranged from ₹5,675 to ₹5,700 (approximately $67.92-68.22) per maund of 37.2 kg, while in Haryana, prices ranged from ₹5,600 to ₹5,700 (approximately $67.02-68.22). In upper Rajasthan, cotton was priced between ₹5,400 and ₹5,700 (approximately $64.63-68.22) per maund. Bikaner line cotton sold for ₹5,700 to ₹5,800 (approximately $68.22-69.42) per maund. In lower Rajasthan, cotton was priced at ₹53,300 to ₹56,500 (approximately $637.91-676.21) per candy of 356 kg.
Fibre2Fashion News Desk (KUL)