Polyester-cotton (PC) and poly spun yarn prices declined in the domestic market as low demand and cheap raw material forced millers and stockists to cut their rates. Poly spun cotton yarn fell by ₹2-5 per kg due to cheap polyester fibre, while PC yarn came down to ₹10 in Ludhiana. Reliance has also decreased prices of PSF and its raw materials.
According to trade sources, polyester yarn and blended yarn prices witnessed a downward trend as the demand did not improve even after Diwali. Surat and the other markets in Gujarat are still partially closed on account of Diwali, which is also dampening market sentiments. Man-made yarn and textile market will completely open only next week. “Cheap raw material was the main reason for the decrease in the prices of yarn. Reliance had to cut prices of PSF and PTA in line with the Chinese market. Poor demand was also another factor for weaker sentiments,” a Ludhiana based trader told Fibre2Fashion.
According to trade sources, polyester-cotton yarn declined by ₹10 per kg, while poly spun yarn came down by ₹2-5 per kg in Ludhiana and Surat. 30 count PC combed yarn (48/52) was sold at ₹210-220 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹185-190 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹150-160 per kg. 30 count poly spun yarn was sold at ₹154-160 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹84-86 per kg.
In Surat, Gujarat, 30 count poly spun yarn was traded at ₹141-142 per kg (GST extra) and 40 count poly spun yarn at ₹155-156 per kg.
Reliance Industries Limited decreased the prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for the current week. On Friday, RIL had fixed prices as: PTA at ₹81.70 per kg (-2.20), MEG at ₹52.90 per kg (-1.20) and MELT at ₹88.25 (₹-2.30) per kg. PSF price was cut by ₹2 to ₹105 per kg for the current fortnight.
North Indian states witnessed an upward trend in cotton prices as international and domestic cotton futures bounced back. ICE cotton surged with grains after Russia’s move to suspend participation in the agreement to provide a safe corridor to Ukraine for its shipments.
According to local traders, domestic demand has not picked up yet. But prices improved from the cues of cotton futures. Cotton arrival was noted at 14,000-15,000 bales of 170 kg in the north Indian region. Cotton prices increased by ₹100-150 per maund of 37.2 kg. The natural fibre was traded at ₹6,250-6,300 in Punjab and Haryana and ₹6,450-6,500 per maund in upper Rajasthan. Cotton was sold at ₹61,000-62,000 per candy of 356 kg in lower Rajasthan.