Cotton yarn prices steady in north India as Diwali approaches

Cotton yarn prices remained steady in north India today as trade activities slowed down. With Diwali just a week away, traders and buyers seem to have already gone in the festive mode. Traders said that there was little chance of fluctuations in cotton yarn till Diwali. Panipat (recycled yarn market) and Ludhiana witnessed weak market sentiments. 

Ludhiana’s yarn market witnessed a steady trend. Cotton yarn was traded at the same prices as last week. A trader from Ludhiana market told Fibre2Fashion, “Buyers are only purchasing for their immediate needs as the market is lacking the confidence for a higher demand. The post-Diwali scenario will be very important for cotton trade.” 

In Ludhiana, 30 count cotton combed yarn was sold at RS 300-310 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 20 and 25 count combed yarn were traded at RS 290-300 per kg and RS 295-305 per kg respectively. Carded yarn of 30 count steadied at RS 275-285 per kg. 

In the Delhi market, 30 count combed yarn was traded at RS 310-315 per kg (GST extra), 40 count combed at RS 345-350 per kg, 30 count carded at RS 280-285 per kg and 40 count carded at RS 315-320 per kg, as per TexPro. 

Prices of recycled yarn in the Panipat market remained steady. According to the traders, recycled yarn market is feeling the pressure due to a muted demand. The market sentiments are very weak in the home furnishings segment in the run up to the festival. Due to a weak demand from end consumers and slow exporters, manufacturers are focusing in disposing their stocks in the current season. 

In the Panipat market, 10s recycled yarn (white) was traded at RS 100-105 per kg (GST extra). 10s recycled yarn (coloured - high quality) was traded at RS 110-115 per kg, 10s recycled yarn (coloured - low quality) at RS 80-85 per kg and 20s recycled PC coloured (high quality) at RS 115-120 per kg. 30 count recycled yarn was sold at RS 155-160 per kg. 10s optical yarn was priced at RS 120-125 per kg in the market. Comber prices were ruling at RS 120-125 per kg. Recycled polyester fibre (PET bottle fibre) was at RS 88-90 per kg. 

Cotton prices in north India increased by RS 200-220 per maund of 37.2 kg. However, trade was very thin amid weak demand. According to the traders, spot cotton prices gained as it found support from the upward trend in futures. Daily arrival in north India was noted at 18,000-19,000 bales of 170 kg each. Cotton was traded at RS 6,970-7,000 per maund.