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Owing to several positive signals, cotton yarn traders in south India are optimistic about seeing better demand in the next few days. Encouraging trade enquiries in north Indian market, possible ease in COVID restriction in Mumbai and Delhi, a gain of ₹3-10 per kg in cotton yarn prices in Tiruppur are among the reasons for optimism among traders.
An increase in grey fabric processing activities in Ahmedabad is also an indication that there will be better demand in the coming days, according to traders.
“The easing of restrictions Mumbai and Delhi will improve demand for textiles. Once the schools reopen, there will be a surge in demand from the uniform segment,” a Mumbai-based trader told Fibre2Fashion.
Owing to several positive signals, cotton yarn traders in south India are optimistic about seeing better demand in the next few days. Encouraging trade enquiries in north Indian market, possible ease in COVID restriction in Mumbai and Delhi, a gain of ₹3-10 per kg in cotton yarn prices in Tiruppur are among the reasons for optimism among traders.
In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded steady at ₹1950-2010 and ₹1690-1740 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1880-1920 per 4.5 kg. Carded cotton yarn (44/46 count) of warp variety was sold at ₹1720-1780 per 5 kg.
In Tiruppur market, cotton yarn prices rose by ₹3-10 per kg today. Cotton yarn of 30 count combed was traded at ₹350-360 per kg, 34 count combed at ₹363-368 per kg and 40 count combed at ₹390-400 per kg. Cotton yarn of 30 count carded was sold at ₹315-325 per kg, 34 count carded at ₹322-327 per kg and 40 count carded at ₹340-350 per kg, according to Fibre2Fashion’s market analysis tool TexPro.
In Gujarat market, cotton was traded with bearish trend on Friday. Domestic mills have reduced buying after downfall in international market. 29 mm cotton was traded at ₹75,500- 75,700 per candy of 356 kg. A grade cotton was priced at ₹75,000-75,500 per candy, B grade cotton at ₹74,000-74,500 per candy and average cotton at ₹73,000-74,000 per candy. V797 variety cotton was quoted at ₹47,000-47,500 per candy.
Meanwhile, ZCE cotton yarn May 2022 futures traded lower by CNY 55 at CNY 29,095 per ton, while September 2022 traded higher by CNY 90 at CNY 28,345 per MT today. ICE cotton futures scaled lower on Thursday, as investors awaited the weekly federal export sales report. Cotton contract for March 2022 closed at 122.87 cents, down 108 points; May 2022 closed at 119.67 cents, down 78 points; December 2022 closed at 99.01 cents, down 17 points. “The downward move is just a small pullback in cotton prices that was long overdue as the prices have gone so much higher, so quickly,” said an analyst.
Fibre2Fashion News Desk (KUL)
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