02 June 2022
(Fibre2Fashion News Desk (KUL): North India’s cotton yarn prices declined by Rs.5-15 per kg as weaker demand and bearish tone forced stockists and traders to sell their stocks. However, millers are slow to cut prices saying that they are still in disparity. Both Delhi and Ludhiana registered a fall in prices. Recycled yarn used in furnishing textile also lost Rs.5-10 per kg in Panipat.
Cotton yarn prices slipped by Rs.5-10 per kg in Ludhiana market. Apart from weak demand from fabric manufacturers, downtrend in cotton prices also drove yarn prices down. A local trader told Fibre2Fashion that demand is already weak and cheaper cotton led to selling pressure in the market. Sources said that stockists are forced to sell their stocks as they want to liquidate their holdings.
In Ludhiana, 30 count cotton combed yarn was sold at Rs.420-425 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 20 and 25 count combed yarn was traded at Rs.410-415 per kg and Rs.415-420 per kg respectively. Carded yarn of 30 count was quoted at Rs.360-365 per kg.
Delhi market also noted a decline trend in cotton yarn trade. According to trade sources, stockists are selling cotton even at losses as they want to clear their stocks and need money for business requirements. Mills are not cutting prices as they do not want to sell in disparity. 30 count combed yarn was traded at Rs.405-415 per kg (GST extra), 40 count combed at Rs.445-460 per kg, 30 count carded at Rs.365-370 per kg and 40 count carded at Rs.405-410 per kg.
Panipat market noted a downward trend in recycled yarn prices. Poor demand and downfall in virgin cotton yarn and cotton dampened the recycled yarn market. Recycled yarn prices fell by Rs.5-15 per kg. In Panipat market, 10s recycled yarn (white) was traded at Rs.110-110 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at Rs.140-145 per kg, 10s recycled yarn (coloured - low quality) at Rs.95-105 per kg and 20s recycled PC yarn (coloured) at Rs.185-195 per kg. 10s optical yarn was traded at Rs.120-125 per kg in the market.
North India cotton prices reduced as MCX drastically cut open position limits for traders and members. Demand from spinning mills also weakened as they have stopped or shifted production to manmade fibres.
Cotton prices were at Rs. 95,000-96,000 per candy of 356 kg. The prices came down by Rs.7,000-8,000 per candy in last couple of days. (Source: Fibre2Fashion.com)