In Mumbai, the prices slipped by ₹2-5 per kg for some varieties of cotton yarn as the demand showed no improvement and market sentiments remained weak. “Loom owners are waiting for a clear signal of an improved demand from the garment industry. Weak buying forced the sellers to decrease the prices,” a trader from Mumbai market told Fibre2Fashion.

South India’s cotton yarn market has continued to remain bearish today. Cotton yarn prices further eased by ₹2-5 per kg for a few varieties and counts. However, the market anticipates the demand to pick up soon and some traders expect a sudden increase in demand. The prices of the cotton yarn in the Tiruppur market of Tamil Nadu steadied today.

According to market sources, last week’s surge in fabric buying remained short lived. In the Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,680-1,710 and ₹1,570-1,620 per 5 kg (GST extra) respectively. 60 count combed warp was priced at ₹380-395 per kg. 80 carded (weft) cotton yarn was sold at ₹1,590-1,620 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹328-333 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹303-312 per kg and 40/41 count combed yarn (warp) was priced at ₹345-350 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

In the Tiruppur market, cotton yarn prices remained stable amid limited buying. However, traders and mills were trying to keep the prices stable at the current level for this week. They will decide on the pricing during the next week. “It is just a matter of time before the demand picks up again. Buyers are waiting for prices to reduce. Ultimately, buyers will have to come back to the market because their inventory will be depleted,” a trader from Tiruppur told Fibre2Fashion.

Today, 30 count combed cotton yarn was traded at ₹342-345 per kg (GST extra), 34 count combed at ₹352-355 per kg and 40 count combed at ₹355-360 per kg in the Tiruppur market. Cotton yarn of 30 count carded was sold at ₹315-320 per kg, 34 count carded at ₹322-325 per kg and 40 count carded at ₹327-332 per kg, as per TexPro. 

In Gujarat, new cotton arrival increased, and daily arrival reached 10,000 bales of 170 kg. Cotton prices dropped further due to weak demand. Shankar-6 cotton of the new season was traded at ₹70,000-73,000 per candy of 356 kg in the spot market of Gujarat. Ginning mills are cautious about buying new seed cotton as they are facing disparity at current prices. 

Fibre2Fashion News Desk (KUL)