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Trading activities remained very thin in the entire north Indian cotton yarn market. Trade reduced to nominal in Delhi market due to the ongoing third wave of COVID-19 and restrictions imposed by the state government. Panipat market witnessed steady trend, while Ludhiana market remained closed today due to holiday on account of Lohri festival.
In Delhi, most cotton yarn traders kept their shops closed fearing infection amid third wave of COVID-19. The Delhi government has imposed odd-even system for all the business establishments in the National Capital Region. Other restrictions are also hampering normal business activities in Delhi. SK Shrivastava, proprietor of Delhi based firm Neha Fibre told Fibre2Fashion that trading activities reduced to nominal level in Delhi as traders are not opening their establishments fearing the spread of coronavirus. However, many traders are active in business in virtual mode through phone calls, messages, and e-mails.
Cotton yarn of 30 count combed was traded steady in Delhi at ₹370-375 per kg, 40 count combed at ₹410-415 per kg, 30 count carded at ₹345-350 per kg, and 40 count carded at ₹390-395 per kg, according to Fibre2Fashion’s market analysis tool TexPro. 10 count weaving (O/E) yarn was quoted at ₹125-130 per kg, while 16 count weaving (O/E) at ₹165-170 per kg.
Trading activities remained very thin in the entire north Indian cotton yarn market. Trade reduced to nominal in Delhi market due to the ongoing third wave of COVID-19 and restrictions imposed by the state government. Panipat market witnessed steady trend, while Ludhiana market remained closed today due to holiday on account of Lohri festival.
Panipat, a recycled yarn market, also recorded stable trend. The market recorded prices as: 10s recycled yarn (white) at ₹95-100 per kg, 10s recycled yarn (dyed) ₹90-100 per kg, 20s recycled yarn (dyed) ₹100-125 per kg. 10s optical yarn was traded at ₹90-100 per kg in the market.
Cotton prices surged by ₹500-700 per candy of 356 kg each in the markets of North Indian states on Thursday amid improved demand from the mills, while daily crop arrivals also recorded an increase. In Punjab, the spot delivery prices of cotton were quoted at ₹68,400-69,300 per candy, according to TexPro. In Haryana, the spot delivery prices of cotton were quoted ₹67,000-67,700 per candy. In Upper Rajasthan, the spot delivery prices were quoted at ₹69,700-69,900 per candy. In Lower Rajasthan, the spot delivery cotton was priced at ₹67,400-69,500 per candy.
In global market, ZCE cotton yarn January 2022 futures traded steady at CNY 28,100 per ton, while May 2022 traded higher by CNY 155 at CNY 28,660 per MT today. ICE cotton futures scaled higher on Wednesday amid stronger WASDE report, while the positive mood was boosted by a weaker dollar also. Cotton contract for March 2022 closed at 117.64 cents, up 162 points; May 2022 closed at 114.98 cents, up 109 points; December 2022 closed at 96.34 cents, up 107 points.
Fibre2Fashion News Desk (KUL)
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