India's poly spun yarn prices down amid weak buying

Polyester yarn prices did not find support as the market scenario was gloomy due to the absence of regular buying. “Garment exports have not picked up yet. Not only India, but other major exporting countries were also struggling for export demand,” a trader from Ludhiana market told Fibre2Fashion. 

In Ludhiana, Poly spun yarn prices came down by ₹2-4 per kg. 30 count PC combed yarn (48/52) was sold at ₹210-217 per kg (GST inclusive), 30 count PC carded yarn (65/35) was priced at ₹185-190 per kg, 30 count poly spun yarn was sold at ₹152-157 per kg and recycled polyester fibre (PET bottle fibre) was noted at ₹80-83 per kg, according to Fibre2Fashion’s market insight tool TexPro. 

In Surat, Gujarat, poly spun yarn prices eased down by ₹2-3 per kg. Demand from the downstream industry could not sustain even after better indication last week. 30 counts poly spun yarn was traded at ₹135-136 per kg (GST extra) and 40 counts poly spun yarn at ₹150-152 per kg. 

Reliance Industries Limited has further decreased the prices of purified terephthalic acid (PTA) and MELT for the current week. But monoethylene glycol (MEG) was kept unchanged. On Friday, RIL had fixed the prices as: PTA at ₹77.50 per kg (-0.20), MEG at ₹55.90 per kg (N/C) and MELT at ₹84.98 (-0.17) per kg. RIL decreased the prices of PSF by ₹1 to ₹102 per kg for the current fortnight. 

North Indian cotton prices strengthened after mills increased buying. Cotton arrival improved in mandis because of regular sale by farmers. According to local traders, three and half months into the current season, farmers have realised that cotton prices are unlikely to touch last year’s rates. Cotton arrival increased to 15,000 bales of 170 kg. The natural fibre was traded at ₹6,350-6,450 per maund in Punjab, ₹6,300-6,450 per maund in Haryana and ₹6,500-6,575 per maund in upper Rajasthan, and at ₹61,000-63,000 per candy of 356 kg in lower Rajasthan. 

Fibre2Fashion News Desk (KUL)