North India’s cotton yarn prices steady; market cautious of COVID wave

North India’s cotton yarn prices remained stable today amid limited buying. Recent reports of re-emergence of COVID dampened market sentiments, however, demand and prices were not impacted. Traders have adopted the wait and watch policy to assess its impact on the textile sector. Recycled yarn prices were steady in Panipat, even as shortage of raw materials persisted. 

No changes were witnessed in cotton yarn prices in Delhi. The demand was weak due to COVID scare. “Market is cautious while traders await more clarity on the issue. Hopefully, the fresh wave of COVID in China will pass without affecting the Indian population much,” a trader from Delhi market told Fibre2Fashion. 

In Delhi, 30 count combed yarn was traded at ₹285-290 per kg (GST extra), 40 count combed at ₹315-320 per kg, 30 count carded at ₹260-265 per kg and 40 count carded at ₹295-300 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Cotton yarn prices were steady in the Ludhiana market as well. The market saw limited trade as buyers were cautious about resurgence of COVID cases in India. Speaking to F2F, a trader from Ludhiana market said, “If India faces a fresh wave of COVID-19, the textile trade will be disrupted. But the probability of a new wave is not clear as of now. We must wait before assessing the actual risk.” 

In Ludhiana, 30 count cotton combed yarn was sold at ₹280-290 per kg (GST inclusive); 20 and 25 count combed yarn were traded at ₹270-280 per kg and ₹275-285 per kg respectively; and carded yarn of 30 count was steady at ₹255-265 per kg, as per TexPro

Like the rest of the markets in north India, Panipat’s recycled yarn market witnessed stability in prices too. Buying improved but buyers were cautious due to the reports of COVID infection in China. Traders felt that it is time to worry as COVID can pass international boundaries again. Spinning mills of recycled yarn were facing a shortage of raw materials. 

In Panipat, 10s recycled yarn (white) was traded at ₹90-95 per kg (GST extra); 10s recycled yarn (coloured – high quality) was traded at ₹105-110 per kg; 10s recycled yarn (coloured – low quality) at ₹80-85 per kg; and 20s recycled PC coloured (high quality) at ₹110-115 per kg. 30 recycled PC coloured (high quality) was at ₹150-155 per kg and 10s optical yarn was priced at ₹100-110 per kg in the market. Comber prices were noted at ₹150-155 per kg and recycled polyester fibre (PET bottle fibre) was at ₹75-77 per kg. 

Cotton arrival dropped to 18,000 bales of 170 kg each in north India. Earlier, cotton arrival was 21,000-22,000 bales on an average and it is not expected to improve, local traders said. Prices will depend on the demand. Cotton was steady at ₹6,350-6,450 per maund of 37.2 kg in Punjab, ₹6,350-6,450 per maund in Haryana and ₹6,600-6,650 per maund in upper Rajasthan and at ₹62,000-63,500 per candy of 356 kg in lower Rajasthan. 

Source: Fibre2Fashion