A trader from Mumbai told Fibre2Fashion, “Demand was not better. Buyers were absent from the market. But lower production and supplies of cotton yarn prompted traders and stockists to raise the prices.” According to sources, many spinning mills have shifted to non-cotton yarn. Traders and mills expect the supply to be limited in the weeks to come, which can support yarn prices if the demand improves.
In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,960-2,010 and ₹1,880-1,930 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,850-1,880 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,910-1,950 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹335-345 per kg. 40 count combed yarn (warp) was priced at ₹365-375 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Trade sources from Tiruppur said that buyers remained absent from the market as they are not receiving any response from the downstream industry. Currently, export orders are very negligible and domestic buying is also weak. Garment manufacturers have large stocks which will be consumed when local demand improves.
In Tiruppur market, cotton yarn prices eased by ₹5 per kg for most of the varieties. 30 count combed cotton yarn was traded at ₹395-400 per kg (GST extra), 34 count combed at ₹435-445 per kg and 40 count combed at ₹470-480 per kg. Cotton yarn of 30 count carded was sold at ₹385-395 per kg, 34 count carded at ₹370-375 per kg and 40 count carded at ₹410-420 per kg, as per TexPro.
In Gujarat, cotton prices have witnessed steady trend at ₹97,000-101,000 per candy of 356 kg. Traders said that spinning mills remained bearish for fresh buying as many of them have shifted to production of polyester yarn.
Fibre2Fashion News Desk (KUL)
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