Indian PC yarn market remains bearish even as poly spun yarn inches up

Ludhiana's market demonstrated a bearish tone for PC yarn, with prices declining by ₹4-5 per kg. However, polyester spun yarn prices showed an upward trend due to increased demand. A local trader spoke to Fibre2Fashion, stating, "The market showed a mixed trend. Polyester spun yarn experienced improved sentiment due to higher demand." Traders expressed confusion regarding the implementation of the QCO, with industry organisations hoping for a delay in implementation. However, the government has yet to announce any deferment. 

The 30 count PC combed yarn (48/52) remained stable at ₹195-206 per kg (GST inclusive) in Ludhiana. Similarly, the 30 count PC carded yarn (65/35) was stable at ₹185-190 per kg. The 30 count poly spun saw an increase, being traded higher at ₹154-162 per kg (GST inclusive) in the North Indian market. The prices saw an increase of ₹2 per kg. Recycled polyester fibre (PET bottle fibre) also saw an increase, quoted at ₹71-74 per kg, according to Fibre2Fashion's market insight tool TexPro. 

The Surat market observed an upward trend in poly spun yarn prices. Trade sources reported better market sentiments. The 30 count poly spun yarn was traded at ₹136-137 per kg (GST extra), and 40 count poly spun yarn at ₹150-152 per kg. The 30 viscose compact yarn (local) was recorded at ₹205-206 per kg (GST extra) in Surat. Meanwhile, the Mumbai market saw an increase of ₹2-3 per kg in viscose vertex and ring spun yarn prices. Imported vertex yarn was sold at ₹187-188 per kg, and local ring spun yarn at ₹197-198 per kg. 

Previously, RIL had fixed prices for PTA at ₹82.40 per kg (an increase of ₹0.80), MEG at ₹48.20 per kg (a decrease of ₹0.70), and MELT at ₹87.25 per kg (an increase of ₹0.45). These polyester raw material prices came into effect from the previous Saturday. For the first half of July 2023, the company maintained prices of polyester staple fibre (PSF) at ₹102 per kg. 

North Indian cotton prices increased by ₹100 per maund (37.2 kg) due to stronger signals from the global market. Trade sources indicated that spinners were keen to buy the natural fibre following the recent rise in ICE cotton prices. They are expecting an increase in cotton prices. The natural fibre was traded at ₹5,900-6,000 per maund of 37.2 kg in Punjab, ₹5,650-5,750 per maund in Haryana, and ₹6,000-6,125 per maund in upper Rajasthan. It sold at ₹55,000-56,600 per candy (356 kg) in lower Rajasthan. 

Fibre2Fashion News Desk (KUL)