South Indian cotton yarn market may see bearish trend till mid-Feb
Cotton yarn prices remained steady in southern and western India’s markets as demand from downstream industry continued to remain bearish. According to traders, demand is not likely to improve before mid-February. Once the fabric manufacturers exhaust their yarn inventory, they will need to buy new yarn, and demand will improve at that time.
In western indian city of Mumbai, spinners quoted higher prices, but no trade materialised at those rates, so effective market prices hovered near previous levels. A broker from Mumbai told Fibre2Fashion that mills have increased their selling prices by ₹3-5 per kg as their production cost moved up due to costlier cotton. But there was no trade at higher prices.
In Mumbai, since the spinning mills have increased yarn prices by ₹3-5 per kg, the gap between mills’ offer prices and market prices widened. In Mumbai market, 60 count carded cotton yarn of warp and weft varieties were traded at ₹1,930-1,990 per 5 kg and ₹1,670-1,730 per 5 kg respectively. 80 count carded cotton yarn of weft variety was sold at ₹1,860-1,900 per 4.5 kg. Carded cotton yarn (44/46 count) of warp variety was traded steady at ₹1,720-1,740 per 5 kg.
The knitwear hub of Tiruppur also witnessed steady trend in cotton yarn with bearish tone as demand was very weak. According to market sources, exporters were buying cotton yarn in limited quantity, which was not enough to improve market sentiments.
Cotton yarn 30 count combed variety was traded in Tiruppur at ₹365-375 per kg, 34 count combed at ₹375-385 per kg and 40 count combed at ₹400-410 per kg. Cotton yarn of 30 count carded was sold at ₹325-335 per kg, 34 count carded at ₹330-340 per kg and 40 count carded at ₹350-360 per kg,
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