The Mumbai market observed stability across all counts of cotton yarn, attributed to slow demand due to reduced production activities in power looms. A Mumbai trader informed Fibre2Fashion, "Payment flow was extremely slow, which deterred buyers from making new purchases. The textile value chain is grappling with elevated stock levels, resulting in squeezed market liquidity. There were anticipations that workers would return to power looms post-Eid. However, the current slowdown in power loom production also weakened market sentiments."

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,490-1,520 (approximately $17.89-$18.25) and ₹1,390-1,450 (approximately $16.69-$17.41) per 5 kg (excluding GST), respectively. Other prices included 60 combed warp at ₹337-342 (approximately $4.05-$4.11) per kg, 80 carded weft at ₹1,480-1,520 (approximately $17.77-$18.25) per 4.5 kg, 44/46 carded warp at ₹265-272 (approximately $3.18-$3.27) per kg, 40/41 carded warp at ₹265-270 (approximately $3.18-$3.24) per kg, 40/41 combed warp at ₹296-302 (approximately $3.55-$3.63) per kg, and 30/32 carded warp at ₹252-257 (approximately $3.03-$3.09) per kg, as reported by Fibre2Fashion's market insight tool TexPro.

The Tiruppur market also saw steady cotton yarn prices. However, stockists and mills offered higher discounts instead of reducing the market price of cotton yarn. A Tiruppur market trader stated to F2F, "There ought to be robust demand due to the summer season. Yet, the market continues to face weak demand, which is beyond understanding. Poor domestic and export demand and slow payments could adversely impact trade."

In the Tiruppur market, cotton yarn prices were recorded as follows: 30 count combed cotton yarn at ₹275-282 (approximately $3.30-$3.38) per kg (excluding GST), 34 count combed cotton yarn at ₹280-288 (approximately $3.36-$3.45) per kg, 40 count combed cotton yarn at ₹293-303 (approximately $3.51-$3.63) per kg, 30 count carded cotton yarn at ₹245-253 (approximately $2.94-$3.03) per kg, 34 count carded cotton yarn at ₹254-260 (approximately $3.05-$3.12) per kg, and 40 count carded cotton yarn at ₹260-268 (approximately $3.12-$3.21) per kg, according to TexPro.

In Gujarat, the cotton market observed a stable trend as spinning mills were hesitant to engage with new buyers. A market source indicated that the weak ICE cotton market was also a concern. Buyers were cautious due to the downward trend in ICE cotton, although Indian cotton remained stable amidst these challenges. Cotton arrivals in Gujarat were recorded at 16,000-17,000 bales of 170 kg each. Nationwide arrivals were estimated at 54,000-56,000 bales. In Gujarat, the benchmark Shankar-6 cotton was priced between ₹60,200 and ₹60,800 (approximately $722.72-729.93) per candy of 356 kg. Southern mills showed interest in purchasing cotton at ₹61,000-61,500 (approximately $732.33-738.33) per candy.

Fibre2Fashion News Desk (KUL)