There was no sign of improvement in buying in domestic or export markets, according to trade sources. Cheaper cotton and cotton yarn also added to the woes of polyester yarn. A Ludhiana based trader told Fibre2Fashion, “Mills are offering even lower prices as buyers remained absent. Decline in polyester yarn prices left spinning mills in losses during the last one week. The mills are now facing disparity of ₹5-10 per kg for polyester yarn due to the recent decrease.” 

Polyester-cotton (PC), poly spun and recycled polyester prices have witnessed a steep fall of up to ₹25 per kg today in India. Traders said that poor demand and downward trend in cotton and cotton yarn prices have caused the decline. The declining prices of polyester yarn have left mills in disparity as they have already been facing losses in cotton yarn.

Trade sources added that polyester-cotton, poly spun and recycled yarn prices also witnessed a steep fall of up to ₹25 per kg in Ludhiana due to weaker demand and declining cotton and cotton yarn prices. Prices of a few varieties of yarn came down by ₹5-10 per kg. 30 count PC combed yarn (48/52) was sold at ₹235-245 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹205-210 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹165-175 per kg. 30 count poly spun yarn was sold at ₹158-168 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹88-90 per kg. 

Reliance Industries Limited had earlier increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for the current week. On Friday, RIL had fixed prices as: PTA at ₹85.60 per kg, MEG at ₹57.40 (+₹2.50) per kg and MELT at ₹93.13 (+₹1.35) per kg. PSF was priced at ₹110 per kg after a reduction of ₹3 per kg for current fortnight. 

The downward trend continued in cotton prices in north India as arrival is increasing gradually. Spinners’ buying continued to remain weak. According to traders, cotton arrival increased to 6,500 bales of 170 kg in north Indian region and cotton prices decreased by ₹300-350 per maund of 37.2 kg. New cotton was traded at ₹7,500-7,550 per maund for ready delivery in Haryana, Punjab and Rajasthan, October delivery deals were finalised at ₹7,200-7,220 per maund and full September delivery cotton was traded at ₹7,400-7,450 per maund. 

Fibre2Fashion News Desk (KUL)