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The Ludhiana market experienced a steady trend in buying, with stable prices for PC and polyester spun yarn. Although spinners initially raised yarn prices, they were unable to sustain them due to poor demand. Consequently, they were compelled to reduce prices or offer higher discounts. A trader from the Ludhiana market told Fibre2Fashion, "Slower demand did not allow mills to raise prices. The sentiments were bearish because buyers were reluctant to engage in fresh buying. Traders were clueless about the revival of the market."
In Ludhiana, the 30 count PC combed yarn (48/52) steadied at ₹207-218 per kg (GST inclusive), according to Fibre2Fashion's market insight tool TexPro. The 30 count PC carded yarn (65/35) remained stable at ₹195-205 per kg; 30 count poly spun yarn increased to ₹149-159 per kg (GST inclusive) and recycled polyester fibre (PET bottle fibre) was noted at ₹68-70 per kg.
Poly spun yarn also remained steady in the Surat market, with no significant changes in market conditions. Demand in the polyester value chain further dampened due to production halts in many regions of Gujarat caused by the cyclone. However, there was slightly better lifting in the 40-count polyester yarn. The 30-count poly spun yarn traded at ₹135-136 per kg (GST extra), while the 40-count poly spun yarn traded at ₹151-152 per kg. In Mumbai, the 30-viscose yarn (local) also remained steady at ₹185-195 per kg (GST extra).
Earlier, RIL fixed the prices of PTA at ₹81.70 per kg (increase of ₹0.70), MEG at ₹51.60 per kg (unchanged), and MELT at ₹87.81 per kg (increase of ₹0.61). These prices for polyester raw materials came into effect on Saturday. At the beginning of this fortnight, the company had reduced prices of polyester staple fibre (PSF) by ₹2 to ₹102 per kg.
North Indian cotton witnessed a decline in prices due to poor demand. Cotton prices were quoted lower at ₹50-75 per maund of 37.2 kg in the north Indian market. Trade sources indicated that the recent fall in Gujarat cotton prices affected demand in north India as well. Cotton was traded at ₹5,800-5,900 per maund in Punjab, ₹5,725-5,825 per maund in Haryana, and ₹6,100-6,200 per maund in upper Rajasthan. It was sold at ₹56,200-57,500 per candy of 356 kg in lower Rajasthan.
Fibre2Fashion News Desk (KUL)