Polyester yarn gained ₹2-3 per kg in major trading centres including Ludhiana and Surat. Mills decreased their selling prices after demand slowed down. “Demand could not sustain therefore polyester yarn lost its previous gains. But PC yarn remained positive. Polyester yarn may increase again because it can get support from the increasing prices of cotton,” Ashok Singhal, a veteran trader from Ludhiana market told Fibre2Fashion.
India’s polyester yarn prices eased today due to weak demand from the downstream industry after finding support last week due to improved buying after a rise in raw materials. The prices of polyester spun yarn reduced by ₹2-3 per kg in the Ludhiana and Surat markets. However, traders expect that polyester yarn will get support if cotton remains positive.
In Ludhiana, 30 count PC combed yarn (48/52) was sold at ₹215-228 per kg (GST inclusive), 30 count PC carded yarn (65/35) was priced at ₹200-210 per kg and 30 count poly spun yarn was sold at ₹153-160 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹79-81 per kg, according to Fibre2Fashion’s market insight tool TexPro.
Meanwhile, in Surat, Gujarat, 30 count poly spun yarn was traded at ₹141-142 per kg (GST extra) and 40 counts poly spun yarn at ₹156-157 per kg. Last week, the prices had gained ₹5-7 per kg, but they came down again this week.
Reliance Industries Limited decreased the prices of purified terephthalic acid (PTA) and MELT for the current week. However, monoethylene glycol (MEG) remained unchanged. On Friday, RIL fixed prices as PTA at ₹82 per kg (-0.50), MEG at ₹56.60 per kg (N/C), and MELT at ₹789.76 (-0.43) per kg. RIL also increased the prices of PSF by ₹1 to ₹106 per kg for the current fortnight.
In the North Indian cotton market, prices gained ₹100-150 per maund of 37.2 kg after multiple indications of support for demand. The market sentiments were supported by factors such as a lower production estimate, improved buying, price rise in cotton yarn, and reducing price disparity of Indian cotton with ICE cotton. According to local traders, cotton prices are unlikely to ease in the coming weeks, but further price rise will depend on demand for garment, which is yet to improve in domestic and global markets. Cotton arrival was 17,000 bales of 170 kg in North India. It was traded at ₹6,400-6,525 per maund in Punjab, ₹6,400-6,500 per maund in Haryana, and ₹6,570-6,650 per maund in upper Rajasthan, and at ₹61,200-63,000 per candy of 356 kg in lower Rajasthan.
Fibre2Fashion News Desk (KUL)