Panipat sees uptrend in cotton yarn prices; stable in north India

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Cotton yarn prices of major varieties remained stable today in north Indian markets due to weaker demand. But Panipat market saw price rise of ₹5-10 per kg for optical yarn. Panipat is prominent market for recycled yarn used for furnishing textile. Traders expect muted trend in cotton yarn market this week, ahead of the implementation of GST hike.

Spinning millers are keen to increase prices of cotton yarn due to their higher cost of production. The prices of cotton are also rising amidst limited arrival of good quality supplies.

Cotton yarn of 20 and 30 counts in combed variety were traded at ₹330-340 per kg and ₹350-365 per kg respectively in Ludhiana, while carded yarn in 30 counts was quoted at ₹330-340 per kg, according to Fibre2Fashion’s market analysis tool TexPro.

Cotton yarn prices of major varieties remained stable today in north Indian markets due to weaker demand. But Panipat market saw price rise of ₹5-10 per kg for optical yarn. Panipat is prominent market for recycled yarn used for furnishing textile. Traders expect muted trend in cotton yarn market this week, ahead of the implementation of GST hike.

Delhi and Kolkata markets also witnessed steady trend in cotton yarn prices. In Delhi market, cotton yarn of 30 count combed was sold at ₹345-355 per kg, 40 count combed at ₹370-390 per kg, 30 count carded at ₹300-320 per kg and 40 count carded at ₹335-355 per kg, 10 count weaving (O/E) yarn at ₹125-130 per kg, and 16 count weaving (O/E) at ₹165-170 per kg.

In Panipat, 10s optical yarn was traded at ₹90-100 per kg with gain of ₹5-10 per kg. However, the market noted steady trend for other varieties—10s recycled yarn (white) at ₹95-100 per kg, 10s recycled yarn (dyed) at ₹75-95 per kg, and 20s recycled yarn (dyed) at ₹100-125 per kg.

Neelkanth Sharma, a Ludhiana-based industry told Fibre2Fashion that mill owners are not comfortable at current prices of yarn, but they were unable to increase the prices due to muted demand. Spinning millers were focusing on shipments for export commitments as they have to fulfil the orders before the Chinese New Year holidays from January 31 to February 6, 2022. According to sources, spinning mills have export orders mostly from China and Bangladesh.

Traders expect muted demand this week due to possible GST hike from January 1, 2022. According to them, only few fabric manufacturers had seen it as an opportunity for expected price rise in New Year, and most downstream manufacturers were cautious expecting a possible disruption in the trade. Mostly buyers were also cautious and prefer to wait-and-watch.

Meanwhile, in the global market, ZCE cotton yarn January 2022 futures traded lower by CNY 135 at CNY 26,830 per ton, and May 2022 traded lower by CNY 100 at CNY 26,850 per MT today. North India cotton noted steady trend. According to TexPro, Punjab cotton J-34 (RG) 27-28.5MM (MIC 4.00-4.7) was traded flat at ₹64,499-65,023 per candy of 356 kg each. Haryana cotton J-34 (RG) 27-28 (MIC 4+) was traded at ₹63,164-64,640 per candy, while Rajasthan cotton J-34 (RG) 26.5-28mm (MIC 4.00-4.5) was sold at ₹65,000-65,500 per candy.
 

Fibre2Fashion News Desk (KUL)





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