The Surat market in Gujarat has noted stable prices of poly spun yarn, with 30 count poly spun yarn traded at ₹139-140 per kg (GST extra) and 40 count poly spun yarn at ₹154-155 per kg. A trader from Surat market told Fibre2Fashion, “There was discomfort in the market because of the implementation of QCO. It can disrupt supply and price dynamics. Every producer of polyester fibre and yarn will have to comply with the QCO, otherwise they may not be able to produce and supply the products.”
Polyester-cotton and poly-spun yarn market in India is seeing a stable trend in prices and poor demand.
Prices may increase next month and there is a possibility of supply disruption due to the implementation of QCO on April 3.
North Indian cotton prices increased due to ICE cotton supporting domestic spot and future prices, low arrival and steady demand.
In Ludhiana market, polyester-cotton and polyester yarn prices remained at the previous level, and demand from downstream industries has been negligible due to the March closing. “The new financial year of 2023-24 will bring new QCO rulings, affecting the domestic production and import of polyester fibre and yarn. There is a higher possibility of import disruption as plant inspection may be delayed for certification. The authorities will provide certification only after tedious screening of the production process,” a Ludhiana-based trader told F2F.
The 30 count PC combed yarn (48/52) was sold steady at ₹217-230 per kg (GST inclusive) in Ludhiana, 30 count PC carded yarn (65/35) was steady at ₹202-212 per kg, 30 count poly spun yarn was priced at ₹151-158 per kg, and recycled polyester fibre (PET bottle fibre) was noted at ₹74-77 per kg, according to Fibre2Fashion’s market insight tool TexPro.
RIL has increased the prices of purified terephthalic acid (PTA) and MELT, but monoethylene glycol (MEG) remains unchanged for the current week. The company fixed prices as PTA at ₹84.90 per kg (increase of ₹3.70), MEG at ₹56.50 per kg (unchanged) and MELT at ₹89.04 per kg (increase of ₹3.18). The company’s PSF was retained at the previous level of ₹106 per kg. There is a possibility of price rise for PSF and its raw materials.
North Indian cotton prices have further increased due to ICE cotton supporting domestic spot and future prices. Cotton was traded at higher prices of ₹50-70 per maund of 37.2 kg on Wednesday, with lower arrival and steady demand supporting the natural fibre. Cotton arrival decreased from 10,000 bales of 170 kg to 8,000 bales in north India. Cotton was sold at ₹6,125-6,250 per maund in Punjab and Haryana, and ₹6,350-6,425 per maund in upper Rajasthan, and at ₹58,500-60,500 per candy of 356 kg in lower Rajasthan.
Fibre2Fashion News Desk (KUL)