According to trade sources, there was no significant buying for domestic and export market. Export orders for garment, fabric and yarn were not enough to boost market sentiments. A Ludhiana based trader told Fibre2Fashion, “Recent yarn orders from foreign markets were not enough to support entire value chain of the textile sector.” Last week, Reliance Industries Limited (RIL) had increased prices of raw material but it did not lead to rise in prices of yarn.
Various counts and varieties of polyester and polyester-cotton yarn were traded lower by ₹5-10 per kg today in Indian markets. Traders feel that demand for yarn is not improving due to muted activities in domestic and export markets. Higher prices of polyester raw materials failed to boost market sentiments. Market will have to wait for better sentiments.
In Ludhiana market, polyester-cotton, poly spun and recycled yarn was priced lower as demand remained very weak. According to trade sources, market will have to wait for some more time for better market sentiments. 30 count PC combed yarn (48/52) was sold at ₹260-270 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹225-235 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹180-185 per kg. 30 count poly spun yarn was sold at ₹160-170 per kg. The price of recycled polyester fibre (PET bottle fibre) was noted at ₹90-92 per kg.
Reliance Industries Limited had earlier increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for the current week. On last Friday, RIL fixed prices as: PTA ₹85.60 (₹+0.50) per kg, MEG ₹54.90 (₹+2.70) per kg and MELT at ₹92.28 (₹+1.35) per kg. PSF is priced at ₹113 per kg for the current fortnight.
Meanwhile, cotton prices further eased in north India as new arrival increased while spinners’ buying remained limited. According to traders, cotton arrival increased to 5,000 bales of 170 kg each in the north Indian region. Cotton prices decreased by ₹200-300 per maund of 37.2 kg. New cotton was traded at ₹8,100-8,200 per maund for ready delivery in Haryana, Punjab and Rajasthan. October delivery deals were finalised at ₹7,500-7,550 per maund. Full September delivery cotton was traded at ₹7,900-7,950 per maund.
Fibre2Fashion News Desk (KUL)