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Cotton yarn prices stable in north India amidst uncertain market

2021-12-17 07:52:51 Fibre2Fashion

Cotton yarn prices of major varieties remained stable in north Indian market during the last couple of days. According to market sources, cotton yarn demand was limited due to uncertain economic conditions amid worries about the spread of Omicron corona variant. Fabric manufacturers were buying cotton yarn just enough to meet their immediate requirement.

Cotton yarn of 20 and 30 counts in combed variety were traded at₹325-335 and₹350-360 per kg respectively in Ludhiana. There was no price change in the market during the last two days, and carded yarn in 30 counts was quoted at₹325-335 per kg, according to Fibre2Fashion’s market analysis tool TexPro.

In Delhi market, cotton yarn of 30 count combed was quoted at₹325-345, 40 count combed at₹360-380, 30 count carded at₹310-330, and 40 count carded at₹330-350 per kg. 10 count weaving (O/E) yarn was quoted at₹120-125 per kg, while 16 count weaving (O/E) was at₹160-165 per kg. Kolkata market also witnessed stable price trend during the last three days.

Panipat, which is known for recycled cotton yarn, also showed a similar trend. The market recorded prices as: 10s recycle yarn (white) at₹95-100 per kg, 10s recycle yarn (colour) at₹75-95 per kg, 20s recycle yarn (colour) at₹100-125 per kg, and 10s optical yarn at₹80-95 per kg. According to traders, there was better demand for dyed (coloured) yarn. However, the prices remained unchanged.

The market pipeline shrank due to lower take off from consumer industries. Buyers were active for new deals, but they were looking for smaller lot as they were buying just for immediate need, according to SK Shrivastava of Delhi-based cotton yarn wholesaler Neha Fibres.“Fabric manufacturers were avoiding building large stock due to market uncertainty.”

According to market sources, Omicron corona variant was the key deterrent for higher demand. Both domestic and global market scenarios remain very uncertain due to the new variant of COVID-19.

In global market, ZCE cotton yarn May 2022 was traded higher by CNY 115 at CNY 26505 per MT. ICE cotton futures edged lower on Wednesday, as investors awaited the US Department of Agriculture's (USDA) weekly export sales report. Cotton contracts for March 2022 closed at 105.79 cents, down 11 points, May 2022 closed at 104.37 cents, down 18 points, July 2022 closed at 102.14 cents, down 21 points.

Meanwhile, cotton prices surged by₹40-50 per maund (37.2 kg each) in the markets of North Indian states on Thursday amid increased buying by mills, while daily arrivals also registered an increase.

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