Buyers were mute in the marketplaces of Ludhiana and Surat due to lower-than-average demand. The threat of Cyclone Biparjoy further impacted the market mood. According to trade sources, production activity in Gujarat has slowed due to precautionary limits placed by the local authority.
The Ludhiana market saw a consistent buying trend, with constant pricing for PC and polyester spun yarn. Despite initially raising yarn prices, spinners were unable to sustain them owing to low demand. As a result, they were forced to lower their pricing or provide larger discounts.
“Slower demand did not allow mills to raise prices,” a merchant from the Ludhiana market told Fibre2Fashion. Buyers were hesitant to participate in new purchases, therefore emotions were pessimistic. Traders were unaware of the market’s comeback.”
According to Fibre2Fashion’s market analysis tool TexPro, the 30-count PC combed yarn (48/52) in Ludhiana was stable at 207-218 per kg (GST inclusive). The price of 30-count PC carded yarn (65/35) remained consistent at 195-205 per kg; the price of 30-count poly spun yarn grew to 149-159 per kg (GST includes); and the price of recycled polyester fibre (PET bottle fibre) stayed stable at 68-70 per kg.
The Surat market for poly spun yarn remained stable, with no noteworthy changes in market circumstances. The lifting was slightly better with the 40-count polyester yarn. The 30-count poly spun yarn cost 135-136 per kilogram (GST included), whereas the 40-count poly spun yarn cost 151-152 per kg. In Mumbai, the price of 30-viscose yarn (local) remained stable at 185-195 per kg (GST included).
Previously, RIL set the price of PTA at 81.70 per kg (up 0.70), MEG at 51.60 per kg (unchanged), and MELT at 87.81 per kg (up 0.61). These polyester raw material costs went into effect on Saturday. The firm cut the price of polyester staple fibre (PSF) by 2 to 102 per kg at the start of this fortnight.
North Indian cotton prices fell as a result of low demand. Cotton prices in the north Indian market were reported at 50-75 per maund of 37.2 kg. According to trade sources, the recent drop in Gujarat cotton prices has impacted demand in north India as well. Cotton was marketed at 5,800-5,900 per maund in Punjab, 5,725-5,825 in Haryana, and 6,100-6,200 in upper Rajasthan. In lower Rajasthan, it was sold for 56,200-57,500 each confectionery of 356 kg.
