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The price of most counts and varieties of cotton yarn remained steady in south India’s markets today, but few counts and varieties lost up to ₹20 per kg. Uncertain market conditions continue to dampen buyers’ confidence. Demand from weaving industry is not likely to improve in this month. Spinning mills are trying hard to keep yarn prices at current levels.
While many counts and varieties of cotton yarn were traded at previous prices, the price of carded cotton yarn (44/46 count) of warp variety and few other varieties decreased by up to ₹20 per kg A trader from Maharashtra’s Ichalkaranji told Current month is expected to pass without any improvement in prices. The market can improve in August only.”
In Mumbai market, most counts and varieties of yarn were sold at previous levels. 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,730-1,830 and ₹1,560-1,630 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,580-1,600 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹1,690-1,740 per 4.5 kg. Cotton yarn buying was very weak in Tiruppur market. However, the prices remained stable as mills were feeling pressure on their margins. Traders and stockists are adopting wait and watch policy. “There were no indications of improvement in demand. Weaving industry is unsure about demand from garment units. The market is not likely to improve in this month
In Gujarat, cotton prices remained stable amid poor demand from spinners. Buyers are not comfortable with current cotton prices as yarn producers are witnessing sluggish buying from weaving industry. A broker from Gujarat, Chetan Bhojani, said that the demand remained very week, but the prices were hovering at previous level as stocks were also limited. The benchmark Shankar-6 cotton was traded at ₹78,000-88,000 per candy of 356 kg.
Discalamer: this information has been collected through secondary research and posted by third party therefor textilemarket. In is not responsible for any errors in the same.
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