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Cotton yarn prices extend fall in Delhi, Mills come in parity as cost fell

3 Oct 2022 10:26 pm
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Mumbai, 3 OCT (Commoditiescontrol): North India’s cotton yarn market have witnessed volatility in last couple of days. Further, prices have deeply corrected in Delhi in comparison with Ludhiana. Now the prices have come in parity in the two trading centres. Traders expect that the market will bottom out very soon. Cotton has already bottomed out at least for now as prices inched up due stagnation in arrival amid strong buying. Panipat may face shortage of recycled coloured yarn.

In Delhi, cotton yarn prices have seen steep fall of Rs 10-30 per kg last week. Traders feel that the market will bottom out very soon because buyers will come out for cheaper yarn. A trader from Delhi said, the falling prices are increasingly attracting buyers. This is positive sign for the market. Trade sources said, the disparity in yarn over cotton prices ended for spinning mills as fall in cotton prices reduced cost of production. Weaving industry may also come up in parity. It will support market sentiments. 30 count combed yarn was traded at Rs 315-320 per kg (GST extra), 40 count combed at Rs 350-355 per kg, 30 count carded at Rs 285-290 per kg and 40 count carded at Rs 320-325 per kg.

But Ludhiana market noted stability amid silent buying. Cotton yarn prices remained unchanged. Weaving industry units are still buying cotton yarn just for immediate need. In Ludhiana, cotton yarn prices dropped Rs 10-20 per kg during last one week. 30 count cotton combed yarn was sold at Rs 330-335 per kg (GST inclusive). 20 and 25 count combed yarn were traded at Rs 320-330 per kg and Rs 325-335 per kg respectively. Carded yarn of 30 count was quoted at Rs 285-290 per kg.

Trader activities remained very weak in Panipat as traders are busy in Dussehara preparation. The festival is celebrated here will great zeal. The market may face shortage in coming weeks as large number of coal based dying units closed down due to restrictions effective from 01 October. Many industrial and other activities get effected every year in adjoining area of Delhi NCR because of restrictions have come into effective to contain alarming rise in air pollution in winters. Trading activities did not improve at Panipat market even in Navratri.

Traders expected buying to take place during the auspicious period. Recycled PC yarn fell Rs 5 per kg. But other varieties were traded at previous rates. However, the traders said that the market was facing weak confidence among buyers. When virgin cotton yarn market will pick up, recycle yarn market will also boost. 10s recycled yarn (white) was traded at Rs 88-93 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at Rs 100-105 per kg, 10s recycled yarn (coloured - low quality) at Rs 80-85 per kg and 20s recycled high quality PC yarn (coloured) at Rs 105-110 per kg. 30 count recycled yarn was sold at Rs 155-160 per kg. 10s optical yarn was traded at Rs 100-110 per kg in the market. Comber prices were ruling at Rs 120-125 per kg. Comber prices decreased to Rs 115-120 per kg in south India. If the prices fall further, it will be viable for Panipat market. Recycled polyester fibre (pet bottle fibre) noted steady at Rs 88-90 per kg.

North India cotton prices improved Rs 100-150 per maund of 37.2 kg as arrival did not increase even as strong demand persisted. According to the traders, cotton arrival reduced as steep fall in prices discouraged sellers. But buyers are aggressively buying cotton to meet their commitments against previous forward deals. Daily arrival in north India comprising Punjab, Haryana, Upper Rajasthan and Lower Rajasthan noted at 15,000 bales of 170 kg. Cotton traded at Rs 6,900-6,950 per maund for ready trade. Forward cotton for October traded at Rs 6,650-6,700 per maund.

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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