In the Surat market of Gujarat, sluggish demand was noted, but prices were stable at previous levels. The 30 count poly spun yarn was traded at ₹142-143 per kg (GST extra) and the 40 count poly spun yarn was traded at ₹158-159 per kg. “The demand from the weaving industry remained very poor, and buyers were reluctant to book fresh deals without being assured of fabric demand. Yarn prices would get a boost if buying improved. The implementation of the Quality Control Order (QCO) failed to fuel the prices and could disrupt supplies in the domestic market,” a trader from Surat told Fibre2Fashion. 

The Ludhiana market also noted stability in PC and polyester spun yarn prices, and export-oriented garment production activities may begin for the winter season by the end of the current month. However, export orders are not encouraging. “Low orders have discouraged buyers from purchasing raw materials. If new orders improve, the prices of yarn and fabric can get support, but it is not going to happen in the near future,” a Ludhiana-based trader told F2F. The import of PC and poly spun yarn from China is also eating into the demand for the upstream industry. 

In the Ludhiana market, the 30 count poly spun yarn was priced at ₹155-163 per kg (GST inclusive). The 30 count PC combed yarn (48/52) was sold steadily at ₹220-230 per kg (GST inclusive), and the 30 count PC carded yarn (65/35) was stable at ₹202-212 per kg. Recycled polyester fibre (PET bottle fibre) was noted at ₹77-80 per kg, according to Fibre2Fashion’s market insight tool TexPro.

Reliance has increased the prices of polyester staple fibre by ₹2 to ₹110 per kg for the current fortnight. 

North Indian cotton prices strengthened as they followed the uptrend of domestic cotton futures. Cotton prices were quoted ₹20-40 per maund of 37.2 kg higher than the previous closing prices. Trade sources have said that the spot market found support from cotton futures, which were noted to be up in MCX. MNCs were specifically active buyers as they had to procure to fulfil their commitment for supplies. Cotton arrival was limited to 7,000 bales of 170 kg in north India, and it was traded at ₹6,300-6,400 per maund in Punjab, ₹6,350-6,450 per maund in Haryana, and ₹6,550-6,650 per maund in upper Rajasthan, and at ₹61,200-63,000 per candy of 356 kg in lower Rajasthan. 

Fibre2Fashion News Desk (KUL)