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Polyester, yarn drop further amid poor demand, concerns over China imports

28 Sep 2022 9:16 pm
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NEW DELHI, Sept 28 (Commoditiescontrol) - Polyester-cotton, poly spun and recycled polyester yarn further dropped by ₹ 5-6 per kg. Traders said that huge import of Chinese polyester yarn, poor local demand and bearish cotton yarn are causing worries for market. The import is hurting sentiments when domestic spinning mills are running with 50-70 per cent capacity. Traders remained clueless about improvement.

According to trade sources, huge import of polyester yarn from China is also hurting market sentiments. There was no sign of improvement in buying from domestic and export market. Cheaper cotton and cotton yarn also added problem for polyester value chain. According to a trader from Ludhiana, domestic mills are utilizing mere 50-70 per cent capacity due to lower demand. Chinese supply is also eating domestic market demand. Slightly better demand was seen in last days of previous week. Vardhman and some other companies had secured sizeable orders of polyester yarn in last week. But the sentiments again turned to bearish as buying again dried up. Sources said that demand improved because the market pipeline was dried up. There is no improvement in consumption.

According to trade sources, polyester-cotton, poly spun and recycled yarn prices continued downward trend in Ludhiana. PC, poly spun and recycle polyester yarn eased down further ₹5-6 per kg. 30 count PC combed yarn (48/52) was sold at ₹230-240 per kg (GST inclusive). 30 count PC carded yarn (65/35) was priced at ₹200-205 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹160-170 per kg. 30 count poly spun yarn was sold at ₹152-162 per kg. Recycled polyester fibre (pet bottle fibre) noted at ₹88-90 per kg.

Reliance Industries Limited had earlier decreased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for current week. On last Friday, RIL has fixed prices as: PTA ₹84.10 per kg (-1.50), MEG ₹56.60 per kg (-0.80) and MELT at ₹91.57 (₹-1.56) per kg. PSF was priced at ₹110 per kg for the current fortnight.

North Indian states have recorded steep fall in cotton prices as arrival increased.

Spinners’ buying remained very weak. According to traders, cotton arrival increased from 6500 bales of 170 kg to 13,000 bales in north Indian region. Cotton prices decreased Rs 300-350 per maund of 37.2 kg. New cotton was traded at ₹7,150-7,200 per maund for ready delivery in Haryana, Punjab and Rajasthan. October delivery deals were heard at ₹6,650-6,700 per maund.

(By Commoditiescontrol Bureau)


       
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