South India cotton yarn market optimistic for demand in next week

Mumbai market witness steady trend in cotton yarn prices amid limited demand from the downstream industry. Trade sources said that buyers were still silent for fresh buying, although yarn demand may improve in next week. Fabric demand is also likely to improve as power looms are likely to open. Bhupinder Jain, a trader from Mumbai told Fibre2Fashion, “Cotton yarn demand was average today, but it may see improvement in next week. Limited supply of fabric will also support its prices. Hopefully, second half of current month will be better than the first half.”

In Mumbai, 60 carded yarn of warp and weft varieties were sold at ₹1,400-1,420 and ₹1,275-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp ₹315-322 per kg, 80 carded weft ₹1,400-1,440 per 4.5 kg, 44/46 carded warp ₹254-259 per kg, 40/41 carded warp ₹238-244 per kg, 40/41 combed warp ₹262-266 per kg and 30/32 carded warp ₹227-232 per kg, according to Fibre2Fashion's market insight tool TexPro.

Tiruppur market also saw stability in cotton yarn prices in the absence of demand from the weaving industry. A trader from Tiruppur told Fibre2Fashion, “The market may see better buying from next week. Weaving industry and garment units did not resume their production because of longer festival leave by workers. Workers’ strength will be better in next week for operation of production activities.”

In Tiruppur market, cotton yarn prices were noted as: 30 count combed cotton yarn ₹258-263 per kg (excluding GST), 34 count combed cotton yarn ₹266-271 per kg, 40 count combed cotton yarn ₹280-285 per kg, 30 count carded cotton yarn ₹233-236 per kg, 34 count carded cotton yarn ₹237-242 per kg and 40 count carded cotton yarn ₹240-250 per kg, as per TexPro.

Cotton prices were steady in Gujarat market amid average demand from spinning mills. Local cotton prices were also influenced by movement in ICE cotton. According to traders, spinning mills were keen to buying cotton but overall demand remained limited after Diwali. Trading activities are yet to restore to normal level after Diwali. Many mandis were still closed due to longer festival holidays, and cotton arrival was also below normal level.

In Gujarat, the price of benchmark Shankar-6 cotton was quoted between ₹56,400-57,200 per candy of 356 kg. Southern mills were intended to buy cotton at ₹57,200-57,700 per candy. The arrival was around 15,000 bales of 170 kg in Gujarat. All India arrival was estimated at 80,000-90,000 bales of 170 kg each.

Fibre2Fashion News Desk (KUL)