Depressed sentiments were observed in cotton yarn prices in North India after a decline in prices in South India last week. While the market remained steady in Ludhiana, prices dropped in Delhi due to muted buying. However, traders expect better buying after July 10 as manufacturing activities are likely to improve for both domestic and export markets.
Cotton yarn prices steadied in Ludhiana as buyers remained static. Most varieties of cotton yarn were sold at previous prices. A Ludhiana based trader told, “There was hope of better buying in July first week, but yarn market may have to wait for longer time. Cotton prices have come to an attractive level after recent drops. This will encourage buyers, if they receive better signals from downstream industry.” In Ludhiana, 30 count cotton combed yarn was sold at Rs. 400-405 per kg (GST inclusive), according to market insight tool TexPro. 20 and 25 count combed yarn was traded at Rs. 390-395 per kg and Rs. 395-400 per kg respectively. Carded yarn of 30 count was quoted at Rs. 340-345 per kg.
On the other hand, Delhi market noted weakness in prices as demand was very week. According to trade sources, buyers were reluctant for fresh buying while sentiments remained bearish after downfall in Southern market during last week. However, there was hope of better buying after 10 July as manufacturing activities are likely in improve for domestic and export markets. In Delhi, cotton yarn prices fell by Rs. 5 per kg for most of counts and varieties. 30 count combed yarn was traded at Rs. 380-390 per kg (GST extra), 40 count combed at Rs. 420-430 per kg, 30 count carded at Rs. 345-355 per kg and 40 count carded at Rs. 385-395 per kg.
Recycled yarn market at Panipat also noted weaker sentiments but the prices remained stable. A local trader Preetam Singh Sachdeva told, “Yarn sellers and millers will have to wait for longer time. There was no sign of better demand for manufacturing for exports. The market is yet to receive buying enquiries for manufacturing for export orders.”
Panipat based exporters secured some orders in trade fairs held in Germany last month. The price of 20s recycled PC yarn (coloured – high quality) decreased by Rs. 5 per kg. The price of recycled polyester fibre (PET bottle fibre) declined by Rs. 4 to 94 per kg. But the price of comber remained stable Rs. 115 per kg. In Panipat market, 10s recycled yarn (white) was traded at Rs. 95-100 per kg (excluding GST), 10s recycled yarn (coloured – high quality) at Rs. 130-135 per kg, 10s recycled yarn (coloured – low quality) at Rs. 95-105 per kg and 20s recycled high quality PC yarn (coloured) at Rs. 135-140 per kg. 10s optical yarn was traded at Rs. 120-125 per kg in the market.
Meanwhile, cotton prices weakened in north India amid poor demand. Arrival and trade were also thin. According to traders, cotton was sold at Rs. 9,200-9,500 per maund of 37.2 kg in Punjab, Rs. 8,300-8,700 per maund in Haryana and Rs. 9,200-9,700 per maund in Upper Rajasthan. Traders said that supply further reduced in this ending season. New cotton crop was reported in good condition, and is expected to arrive in the second week of September in Haryana and some parts of Rajasthan because of early sowing.
