Cotton yarn prices remained stable due to thin trade in Ludhiana. Traders were also seen in relaxed mood because they were not surprised from current market trend. 20 and 30 count cotton yarn in combed variety were traded at ₹340-360 per kg and ₹350-380 per kg respectively. 25 count combed yarn was sold at ₹340-370 per kg, according to Fibre2Fashion’s market insight tool TexPro. Carded yarn in 30 count was quoted at ₹310-330 per kg.

Delhi market also did not see much movement as demand from downstream industry remained very poor. A trader from Delhi said that the market remained silent because buyers were absent before Holi and closing financial year. Garment units were expecting lower production in this week. Export scenario was even more uncertain. 30 count combed yarn was traded at ₹360-370 per kg, 40 count combed at ₹380-400 per kg, 30 count carded at ₹325-335 per kg and 40 count carded at ₹335-355 per kg, as per TexPro. 10 count weaving (O/E) yarn was quoted at ₹120-125 per kg, while 16 count weaving (O/E) at ₹160-165 per kg.

Traders from Panipat said that financial closing was also a cause of slower demand as buyers and sellers were busy reconciling their accounts and financials. The price of cotton yarn may improve slightly after Holi, but normal trade may not return until the end of current financial year on March 31, they said.

Panipat market had noted price of recycled yarn rise ₹5-10 per kg due to scarcity of secondary fibre, which is obtained from old clothes and woollens (rugs). Panipat market is known for recycled cotton and non-cotton yarn which is used for furnished fabrics. 10s recycled yarn (white) was traded at ₹95-100 per kg, 10s recycled yarn (coloured - high quality) at ₹95-100 per kg, 10s recycled yarn (coloured - low quality) at ₹65-70 per kg and 20s recycled yarn (coloured) at ₹125-140 per kg. 10s optical yarn was traded at ₹100-110 per kg in the market.

In the global market, ZCE cotton yarn May 2022 futures traded lower by CNY 125 to CNY 28,345 per ton and September 2022 traded down by CNY 220 to CNY 27715 per MT today. ZCE cotton March lost CNY 135 to CNY 21,350 per MT and May contract traded down by CNY 50 to CNY 20,180 per MT.

ICE cotton futures edged higher on Friday, boosted by anticipation of robust demand for the natural fibre from China, the world’s largest consumer. Cotton contract July 2022 closed at 116.79 cents, up 376 points; October 2022 closed at 108.19 cents, up 340 points; March 2023 closed at 100.4 cents, up 265 points. China’s state planner announced the issue of a 400,000-tonne cotton import quota with a lowering tariff rate. The first batch of import quotas will be available in 2022.

Meanwhile, cotton prices remained stable in North Indian states on Monday amid reduced demand from the mills at higher prices, while daily arrivals remained stagnant. In Punjab, the price of cotton was noted at ₹77,200-78,400 per candy of 365 kg each. In Haryana, the prices were ruling between ₹72,800-77,100 per candy. In Upper Rajasthan, cotton was quoted at ₹77,000-78,800 per candy. In Lower Rajasthan, cotton was sold at ₹72,800-74,800 per candy.

Fibre2Fashion News Desk (KUL)