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March closing deters cotton yarn buyers in north India; prices steady

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The prices of cotton yarn in north India are stable during the last fortnight of the current fiscal 2022-23 due to sluggish demand. Traders reported that buyers are currently occupied with financial closing activities and are not interested in fresh buying. The uncertainty about demand from end consumers has also discouraged the entire value chain. The recycled yarn market in Panipat also noted no change due to poor production activities. 

In Ludhiana market, cotton yarn prices remained unchanged as buyers were absent from trading activities. A trader from Ludhiana told Fibre2Fashion, “Trading activities are limited as it is the last fortnight of the current fiscal. The sluggish trend may continue until the end of the current month.” In this market, 30 count cotton combed yarn was sold at ₹280-290 per kg (GST inclusive); 20 and 25 count combed yarn were traded at ₹270-280 per kg and ₹275-285 per kg, respectively; and carded yarn of 30 count was noted at ₹260-270 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

Cotton yarn prices in north India remained stable due to sluggish demand because of March closing, with buyers not interested in fresh buying and uncertainty about demand from end consumers discouraging the value chain. Cotton prices recovered slightly due to support in cotton futures, but cotton arrival decreased in North India due to unseasonal rains.

Cotton prices remained steady in Delhi as well. “There is no hope for improvement in sentiments before the end of March. The market will take direction next month, but it is not clear whether the market will improve,” a trader from Delhi market told F2F. In Delhi, 30 count combed yarn was traded at ₹285-290 per kg (GST extra), 40 count combed at ₹315-320 per kg, 30 count carded at ₹266-270 per kg and 40 count carded at ₹295-300 per kg. 

The recycled yarn market in Panipat also noted weaker sentiments, but the prices did not decrease because sellers were not willing to offer low prices. In Panipat, 10s recycled PC yarn (grey) was traded at ₹88-92 per kg (GST extra), 10s recycled PC yarn (black) was traded at ₹60-65 per kg, 20s recycled PC yarn (grey) at ₹105-110 per kg, and 30s recycled PC yarn (grey) at ₹150-155 per kg. Comber prices were noted at ₹155-160 per kg and recycled polyester fibre (PET bottle fibre) was noted at ₹74-77 per kg, as per TexPro. 

North India’s cotton prices recovered after easing late last week due to support in cotton futures. According to the traders, cotton prices recovered by ₹25 per maund of 37.2 kg. Cotton arrival also decreased in North India due to unseasonal rains. Cotton was traded at ₹6,100-6,200 per maund of 37.2 kg in Punjab and Haryana, and ₹6,325-6,400 per maund in upper Rajasthan, and at ₹58,700-60,700 per candy of 356 kg in lower Rajasthan. North India’s arrival was lower than 9,000 bales of 170 kg each. 

Fibre2Fashion News Desk (KUL)


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