Cotton yarn prices in northern India fall sharply but attractiveness increases
Foreign news reported on September 29 that cotton yarn prices in northern India fell further because demand did not improve. However, cheap cotton yarn can boost market sentiment. Traders from Delhi said Indian cotton prices have become cheaper than those from Pakistan, where buyers are turning to Indian exporters. But Ludhiana and Barney Bird lacked confidence.
In Delhi, cotton yarn prices have fallen sharply over the past week by as much as Rs 20 per kg. But there is optimism that purchasing will improve in the coming weeks. A trader from Delhi said: “The sharp fall in prices has made cotton yarn attractive. Indian cotton yarn is currently cheaper than Pakistan. So foreign buyers buying garments and raw materials from Pakistan are approaching Indian exporters. The final consumer sector will be strong Return.”
In Delhi, 30 count combed yarn is trading at Rs 350-355 per kg, 40 count combed yarn is trading at Rs 380-385 per kg, 30 count The price of roving is 300-305 rupees per kilogram, and the price of 40-count roving is 330-335 rupees per kilogram.
However, in Ludhiana, there are no positive signs despite a sharp fall in prices. A local trader said: “The cotton yarn market remains under pressure as buyers are still absent from the market.”
In Ludhiana, cotton yarn prices fell per Rs 10-20 per kg. 30 count combed cotton yarn is sold at Rs 330-335 per kg. 20-count and 25-count combed yarn are trading at Rs 320-330 and Rs 325-335 per kg. The price of 30 count roving is 285-290 rupees per kilogram.
In Banipat, traders were expecting an increase in purchases during the auspicious day of Navratri, but there was no improvement in trading activity during the festival. Recycled PC yarn fell by Rs 5 per kg, but other varieties traded at previous levels. Traders said buyers are not confident enough and recycled yarn may get a boost after virgin cotton yarn picks up.
In Banipat, 10-count recycled yarn (white) is traded at Rs 88-93 per kg and 10-count recycled yarn (color-high quality) is traded at Rs 100 per kg -105 rupees, 10 count recycled yarn (color-low quality) is trading at 80-85 rupees per kg, 20 count recycled high quality PC yarn (color) is trading at 105-110 rupees per kg. 30 count recycled yarn is sold at Rs 155-160 per kg. 10-count light yarn is trading at 100-110 rupees per kilogram. The price of combed yarn is 125-128 rupees per kilogram. Waste yarn products are relatively stable due to declining supply. Recycled polyester fiber (PET bottle fiber) held steady at 88-90 rupees per kg.
Cotton prices in northern India further fell by 200-250 rupees per morund due to increased arrivals amid limited purchases. Buyers, including multinationals, are very picky about new deals. According to traders, they are waiting for cotton prices to fall further to avoid losses.
The daily arrival volume in northern India (including Punjab, Haryana, North Rajasthan, and South Rajasthan) has increased to 14,000 packages (170 kg/bag). Cotton prices for delivery in September and early October are trading at 6,900-6,950 rupees per moend. Forward cotton for October was trading at 6,500-7,550 rupees per morund.
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