North India’s cotton yarn prices were steady today as demand from downstream industry did not improve. A gloomy picture of future demand and fear of recession in Europe were the main causes of concern for the textile sector. Cotton yarn prices were stable in Ludhiana, Delhi and Panipat, and cotton prices remained unchanged after experiencing a sudden rise.
Poor demand from the weaving industry did not support the market sentiments in Ludhiana where prices remained at the same level. “There was no indication of better demand from local and global markets. India’s condition is worse than its competitors as government’s policies are not helping the industry. Therefore, yarn market is facing more odds,” a trader from Ludhiana market told Fibre2Fashion.
In Ludhiana, 30 count cotton combed yarn was sold at ₹300-310 per kg (GST inclusive), and 20 and 25 count combed yarn were traded at ₹290-300 per kg and ₹295-305 per kg respectively. Carded yarn of 30 count was steady at ₹275-285 per kg, according to Fibre2Fashion’s market insight tool TexPro.
In Delhi, the demand was slightly better in the last two days due to an increase in cotton prices, but they declined again. A trader from Delhi market told Fibre2Fashion, “The speculation of recession in Europe and price disparity are dampening market sentiments. Only better conditions in the global market can support yarn prices now.”
In the Delhi market, 30 count combed yarn was traded at ₹295-300 per kg (GST extra), 40 count combed at ₹325-330 per kg, 30 count carded at ₹275-280 per kg and 40 count carded at ₹310-315 per kg, as per TexPro.
Panipat’s recycled yarn market also noted a steady trend in recycled yarn prices which is mainly used in home furnishings. According to the traders, the home furnishings sector is reeling under poor demand globally. Last year, the demand was strong, but this year, consumers are not buying due to the global challenges.
In Panipat, 10s recycled yarn (white) was traded at ₹100-105 per kg (GST Extra). 10s recycled yarn (coloured – high quality) was traded at ₹110-115 per kg, 10s recycled yarn (coloured – low quality) at ₹80-85 per kg, 20s recycled PC coloured (high quality) at ₹115-120 per kg and 20s recycled PC coloured (low quality) at ₹100-105 per kg. 30 recycled PC coloured (high quality) 155-160 per kg. 10s optical yarn was priced at ₹100-110 per kg in the market. Comber prices were ruling at ₹120-125 per kg and recycled polyester fibre (PET bottle fibre) was at ₹88-90 per kg.
North India’s cotton prices remained stable after increasing on Wednesday. According to local traders, poor demand from the downstream industry is dampening sentiments in the cotton market. There was no sign of improved buying but a general increase in commodities, especially grains, supported cotton prices in the local and global market. Demand from spinning mills has not increased either.
Cotton was traded at ₹6,250-6,300 per maund in Punjab and Haryana and ₹6,450-6,500 per maund in upper Rajasthan. It was sold at ₹61,000-62,000 per candy of 356 kg in lower Rajasthan. The arrival was noted at 14,000-15,000 bales of 170 kg in the north Indian region.