According to trade sources, many spinning mills have stopped selling to focus on the delivery of previous deals and payment recovery for better liquidity management. “Sale closing by mills has encouraged buyers. Weaving industry units are enquiring about new deals. They wanted to continue their production of fabrics in limited capacity,” a Ludhiana based trader told Fibre2Fashion. The market was closely monitoring the price movement of the cotton market. In Ludhiana, 30 count PC combed yarn (48/52) was sold at ₹230-240 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹195-200 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹160-170 per kg. 30 count poly spun yarn was sold at ₹160-170 per kg. Recycled polyester fibre (PET bottle fibre) was at ₹88-91 per kg.
Polyester-cotton (PC) yarn prices in India increased after spinning mills stopped fresh sale, while higher prices of raw material supported the rise in poly spun yarn prices. Both categories of yarn gained ₹10-15 per kg. Recycled polyester fibre price also rose by ₹1 per kg. Traders said that improved buying was noticed as mills stopped selling.
Reliance Industries Limited had earlier increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for the current week. On Friday, RIL had fixed prices as: PTA at ₹87.80 per kg (+3.70), MEG at ₹56.20 per kg (+0.20) and MELT at ₹94.62 (+3.25) per kg. Earlier this month, PSF was priced at ₹107 per kg for the current fortnight.
North Indian states noted a declining trend in cotton prices as arrival increased amid sluggish demand. According to traders, cotton arrival increased from 15,000 bales to 18,000 bales of 170 kg each in the north Indian region. Cotton prices decreased by ₹100-150 per maund of 37.2 kg. Cotton was traded at ₹7,050-7,100 per maund for ready delivery in Haryana, Punjab, and Rajasthan.
Fibre2Fashion News Desk (KUL)