The Mumbai market witnessed poor demand while cotton yarn prices remained steady. “The market trend turned bearish last week due to a steep rise in fabric prices. The weaving industry had increased fabric prices by 7-8 per cent, which discouraged buying due to limited demand from end consumers. Softness extended to cotton yarn as well,” a trader from Mumbai told Fibre2Fashion.
Cotton yarn prices were stable in South India today amid mixed signs of demand. There was higher demand in Tiruppur, but cotton yarn prices remained steady. In Mumbai, the prices were stable, while the demand was weak. Optimism for demand was witnessed in Tiruppur, while higher prices of fabrics in Mumbai discouraged buyers along the value chain.
In Mumbai, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,525-1,540 and ₹1,450-1,490 per 5 kg (GST extra), respectively. 60 combed warp was priced at ₹342-345 per kg. 80 carded (weft) cotton yarn was sold at ₹1,440-1,480 per 4.5 kg. 44/46 count carded cotton yarn (warp) was priced at ₹280-285 per kg. 40/41 count carded cotton yarn (warp) was sold at ₹260-268 per kg, and 40/41 count combed yarn (warp) was priced at ₹290-303 per kg, according to Fibre2Fashion’s market insight tool TexPro.
In contrast, the Tiruppur market noted optimism regarding better demand in the coming weeks. Trade sources said that the lifting of cotton yarn improved, which was a good sign for the market. Spinners had been facing slower demand for a long time. However, cotton yarn prices remained stable. According to sources, mills would review the price in March 2023. If the positive trend continued, mills might consider a price rise.
In the Tiruppur market, 30 count combed cotton yarn was traded at ₹280-285 per kg (GST extra), 34 count combed at ₹292-297 per kg, and 40 count combed at ₹308-312 per kg. Cotton yarn of 30 count carded was sold at ₹255-260 per kg, 34 count carded at ₹265-270 per kg, and 40 count carded at ₹270-275 per kg, as per TexPro.
In Gujarat, cotton prices remained steady amid slower demand from spinning mills. Trade sources said that the available cotton was sufficient to fulfil the industry’s buying. The total cotton arrival was estimated to be around 1.40 lakh bales of 170 kg each, while the Gujarat market noted an arrival of 30,000-35,000 bales. The prices were hovering between ₹62,500-63,000 per candy of 356 kg.
Fibre2Fashion News Desk (KUL)