Polyester yarn down in India after raw material price cut by RIL

A Ludhiana-based trader told Fibre2Fashion, “Demand was still poor, but the market will get support because yarn prices have declined to an attractive level. Emptied pipeline will also force buyers to turn up to the market.” Polyester yarn prices are declining, which is adding value for the buyers. A Surat-based trader said that market conditions are turning to positive which will support market price very soon. Last week, market leader RIL had slashed prices of raw materials by 10 per cent after drop in crude oil and pressure on Chinese prices. Cheaper raw materials encouraged spinning mills to cut yarn prices.

In Ludhiana market, recycled polyester-cotton yarn prices dropped further up to ₹20 per kg amid sluggish demand and cheaper raw material. 30 count PC combed yarn (48/52) was sold at ₹260-265 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹220-230 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹175-185 per kg. 30 count poly spun yarn was sold at ₹175-187 per kg. High tenacity recycled fibre was priced at ₹85 per kg.

The price of PSF reduced to ₹120 per kg from ₹127 per kg in last week. RIL has fixed prices of raw material as: PTA ₹85.30 (-9.40) per kg, MEG ₹55.10 per kg (-1.70) and MELT at ₹92.09 (-8.66) per kg, as per TexPro.

Meanwhile, cotton prices were stable in north India amid poor demand. According to traders, supply reduced to negligible, and quality was also poor. Cotton prices are varying as per quality. Therefore, the price determination became very difficult. Cotton was sold at ₹8,600-8,900 per maund of 37.2 kg in Bathinda, ₹8,100-8,500 per maund in Hissar and ₹8,700-8,900 per maund in Sriganganagar.

Fibre2Fashion News Desk (KUL)