Traders said that Muslim workers will return after Eid, thus more power looms will begin production. Mills have already been trying to increase yarn prices due to higher costs. The upward trend in global and domestic cotton prices are also pushing up yarn prices. Mills are reducing cotton yarn production which is a supportive move, trade sources told Fibre2Fashion.
The 60 count carded cotton yarn of warp and weft varieties were traded at ₹2,100-2,150 per 5 kg and ₹1,900-2,050 per 5 kg, respectively. Carded cotton yarn (44/46 count) of warp variety was traded at ₹1,970-2,000 per 5 kg. 80 count carded cotton yarn of weft variety was sold at ₹2,100-2,150 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at ₹361-367 per kg and 40 count combed yarn (warp) was priced at ₹405-425 per kg.
Tiruppur market witnessed an improvement in demand, but yarn prices remained stable. According to the traders, buyers came back in the market at lower prices. Yarn prices are likely to increase in the next week. A trader told Fibre2Fashion that spinning mills are increasing cotton yarn prices. The higher cost of the natural fibre will increase yarn prices. 30 count combed cotton yarn was traded at ₹390-400 per kg, 34 count combed at ₹400-405 per kg and 40 count combed at ₹420-430 per kg, according to Fibre2Fashion’s market insight tool TexPro. Cotton yarn of 30 count carded was sold at ₹345-355 per kg, 34 count carded at ₹350-365 per kg and 40 count carded at ₹370-380 per kg.
In the global market, ZCE cotton yarn May 2022 futures traded up by CNY 305 to CNY 27,215 per ton and September 2022 traded lower by CNY 45 at CNY 27,735 per MT today. ICE Cotton futures ended higher on Thursday due to fresh buying from mills and supply concerns on unfavourable weather conditions. ICE July contract increased by 7 cents to 147.68 cents and December contract traded higher at 125 cents per pound.
In Gujarat, cotton prices moved higher in the mandis for the second consecutive day on Friday due to higher demand from mills and steady daily arrivals. A grade cotton was traded at ₹94,500 to ₹95,000 per candy of 356 kg, B grade cotton at ₹93,500 to ₹94,500 per candy and average grade cotton at ₹92,500 to ₹93,500 per candy.
The V797 variety was quoted at ₹48,000 to ₹50,500 per candy.
Fibre2Fashion News Desk (KUL)