The Ludhiana market continues to experience a bearish tone in both PC yarn and poly spun yarn. Prices for both categories have dropped by ₹2-3 per kg in the last few days. Recycled polyester fibre is also trading at lower rates. No improvement in demand from the weaving industry has been observed. Speaking to Fibre2Fashion, a Ludhiana trader remarked, "The market is grappling with uncertainty regarding demand. Although festivals are fast approaching, it remains unclear whether demand will pick up. The market is stuck in a prolonged waiting period for an improvement in sentiment." 

Prices for PC yarn and poly spun yarn have dipped due to poor demand in Ludhiana. According to market insights from Fibre2Fashion's TexPro tool, 30-count PC combed yarn (48/52) traded at ₹195-205 per kg (GST inclusive). Meanwhile, 30-count PC carded yarn (65/35) was sold at ₹180-190 per kg. The 30-count poly spun yarn was priced between ₹158-165 per kg, including GST. Recycled polyester fibre, sourced from PET bottles, was quoted at ₹74-76 per kg in the north Indian market. 

Unlike Ludhiana, the Surat market in western India has shown better sentiments in both viscose and polyester spun yarn. Viscose compact yarn has seen a gain of ₹5-6 per kg in the last two weeks due to tight supply. According to market sources, old stocks of viscose yarn have been cleared in the past two weeks owing to strong festival demand, thereby supporting a significant price increase. The polyester spun market also traded higher with nominal gain due to improved sentiment and higher demand. The 30 viscose compact yarn (local) was traded steadily at ₹211-212 per kg (GST extra), while 30-count poly spun yarn was traded at ₹138-139 per kg (GST extra) and 40-count poly spun yarn at ₹152-154 per kg. 

In contrast to other regions, the Mumbai market has noted stability in viscose yarn prices, despite a slight increase in demand. Reports indicate that viscose yarn prices have risen in China, which may influence the domestic market. Imported viscose vertex yarn was priced between ₹187-192 per kg, and local ring-spun viscose yarn was quoted at ₹202-204 per kg, according to TexPro.

Reliance Industries Limited (RIL) updated its pricing for key polyester raw materials earlier. PTA was set at ₹86.90 per kg, reflecting an increase of ₹0.70, while MEG remained unchanged at ₹51.70 per kg. MELT was priced at ₹91.31 per kg, marking an increase of ₹0.60. These new prices came into effect last Saturday. RIL has kept its polyester staple fibre (PSF) prices steady at ₹107 per kg for the first fortnight of September 2023. According to market sources, RIL has shut down its MEG plant in Jamnagar for maintenance, and it will remain closed for the next two months. 

Cotton prices in north India have further increased by ₹20 per maund of 37.2 kg, driven by higher demand and positive signals from the global market. Although cotton arrivals have also been high in the region, with a total of 5,500 bales arriving, including 500 bales of old cotton. Haryana recorded the arrival of 300 bales of new cotton and 500 bales of old cotton. In other states in north India, new cotton arrivals were noted at around 2,000 bales. 

Traders have indicated that global cues and higher demand from spinners are supporting market sentiments. The price of old cotton has also risen in tandem with new cotton. The natural fibre from the new crop was traded between ₹6,020 and ₹6,030 per maund across the region, while old cotton was priced between ₹5,950 and ₹6,025 per maund. In lower Rajasthan, the natural fibre from the new crop was sold at ₹60,000-60,500 per candy of 356 kg. 

Fibre2Fashion News Desk (KUL)