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Wednesday, November 29, 2023

Poly-spun yarn price eases in India’s Surat market due to muted demand

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India’s polyester-cotton yarn and poly-spun yarn prices saw bearish sentiments because of slower demand. Prices of poly-spun yarn eased by ₹3-4 per kg in Surat in the last fortnight. However, the prices remained stable amid weak demand in Ludhiana market. Meanwhile, Reliance Industries Limited (RIL) had increased the prices of raw material last Friday.

Gujarat’s Surat market noted downfall in prices amid sluggish demand. The prices slipped by ₹3-4 per kg and 30 count poly-spun yarn was traded at ₹137-138 per kg (GST extra) and 40 counts poly spun yarn at ₹152-153 per kg. A trader from Surat market told Fibre2Fashion, “Weaving and garment industries were not confident about demand from end-users. They were reluctant for bulk purchase of raw materials. The price of poly-spun yarn eased down in last couple of days.”

Polyester-cotton and poly-spun yarn were facing bearish trend in India. Poly-spun prices have seen a decline in Surat market. Weaving and garment industries were not confident for demand from end-users. North India’s cotton prices were stable after a mild gain on Tuesday, with limited buying from spinners. Cotton arrival was 15,000 bales in north India.

Polyester-cotton and polyester yarn was sold steady in Ludhiana market. However, demand was very low because of weak sentiments in the entire value chain. A trader from Ludhiana market told Fibre2Fashion, “Buyers were silent for yarn purchase as garment units were still operating on limited capacity.” 30 count PC combed yarn (48/52) was sold steady at ₹217-230 per kg (GST inclusive) in Ludhiana, according to Fibre2Fashion’s market insight tool TexPro. 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. The price of recycled polyester fibre (PET bottle fibre) was noted at ₹74-77 per kg.

RIL had increased prices of purified terephthalic acid (PTA) and MELT last Friday, but it had kept the price of monoethylene glycol (MEG) unchanged for the current week. The company fixed prices as: PTA ₹81.70 per kg (up 0.50), MEG at ₹57.10 per kg (no change), and MELT ₹89.25 per kg (up 0.43). The company’s PSF was noted at ₹106 per kg.

North Indian cotton prices were also stable after mild gain on Tuesday. The price had increased by ₹40-50 per maund of 37.2 kg on Tuesday after rise in cotton futures. However, the prices were unchanged today because of limited buying from spinners. Cotton arrival was noted at 15,000 bales of 170 kg each in north India. The natural fibre was traded at ₹6,150-6,250 in Punjab, ₹6,150-6,250 in Haryana and ₹6,350-6,425 per maund in upper Rajasthan. Cotton was sold at ₹59,000-61,000 per candy of 356 kg in lower Rajasthan.

Fibre2Fashion News Desk (KUL)


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