NEW DELHI, Oct 6 (Commoditiescontrol) - North India’s cotton yarn prices eased further, with Ludhiana noted a fall of ₹10-15 per kg. While, the prices slipped by ₹5 per kg in Delhi. Traders are assessing bottom line of cotton yarn prices for support. Some traders feel that 30 combed yarn should bottom out at Rs. 300 per kg. Recycled yarn remained steady at Panipat amid closure of dyeing units.
Ludhiana market noted drop in cotton yarn prices. Spinning mills are decreasing yarn prices after fall in cotton prices. However, cotton steadied in last week as farmers discouraged for selling their crop as lower prices. Traders are assessing bottom line of yarn prices in present market trend and future scenario of demand and supply. A trader from Ludhiana market said that 30 combed yarn should find support at ₹305-310 per kg (GST Extra). However, many factors will determine bottom line of the product. The prices should come down further ₹10-15 per kg. In couple of days, cotton yarn eased ₹10-15 per kg. 30 count cotton combed yarn was sold at ₹315-325 per kg (GST inclusive). 20 and 25 count combed yarn were traded at ₹305-315 per kg and ₹310-320 per kg respectively. Carded yarn of 30 count was quoted at ₹270-280 per kg.
In Delhi also, cotton yarn prices slipped ₹5 per kg in last couple of days. Traders feel that demand may improve very soon as yarn prices have already fallen drastically. According to a trader, “Falling prices are increasing attraction for buyers. But buyers are very cautious due to heavy losses. They will come to the market but confidence yet to built up. In the market, 30 count combed yarn was traded at ₹310-315 per kg (GST extra), 40 count combed at ₹345-350 per kg, 30 count carded at ₹280-285 per kg and 40 count carded at ₹315-320 per kg.
Panipat market of recycled yarn mainly used in home furnishing has yet to react on production disruptions in dyeing units in nearby areas. Yarn prices remained weak while demand was average. According to the traders, only 10-15 per cent dying units could converted boilers from coal to CNG. Coal based units were shut down due to new pollution norms from beginning of this month. After Dussehra, the market will react in next weeks to come. However, demand in recycled yarn remained weak as local and export buying yet not picked up. Recycled PC yarn of major varieties were traded at previous rates. 10s recycled yarn (white) was traded at ₹88-93 per kg (excluding GST), 10s recycled yarn (coloured - high quality) at ₹100-105 per kg, 10s recycled yarn (coloured - low quality) at ₹80-85 per kg and 20s recycled high quality PC yarn (coloured) at ₹105-110 per kg. 30 count recycled yarn was sold at ₹155-160 per kg. 10s optical yarn was traded at ₹100-110 per kg in the market. Comber prices were ruling at ₹120-125 per kg. Comber prices decreased to ₹115-120 per kg in south India. Recycled polyester fibre (pet bottle fibre) noted at ₹88-90 per kg.
North India cotton prices remained steady amid limited arrival. According to the traders, cotton arrival did not increase as farmers were not interested to sell their crop at current prices. Ginners are facing lower supply, so they are running ginning units on hand-to-mouth basis. Daily arrival in north India comprising Punjab, Haryana, Upper Rajasthan and Lower Rajasthan noted at 12000-13000 bales of 170 kg. Cotton was traded at ₹7,125-7,250 per maund of 37.2 kg for ready trade.
(By Commoditiescontrol Bureau)
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