A trader told Fibre2Fashion, “PC Yarn prices gained ₹5-15 per kg because mills’ costing was increasing. Spinning mills are increasing yarn prices as cotton is still touching new highs. The demand from downstream industry was average. However, shifting of consumption from pure cotton to polyester-cotton may support market sentiments. Many garment brands and unbranded manufacturers have shifted to PC yarn because cotton yarn’s record high prices are unbearable for the entire value chain.”
In Ludhiana market, 30 count PC combed yarn (48/52) was sold at ₹305-320 per kg (GST inclusive), according to Fibre2Fashion’s market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at ₹280-290 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at ₹200-205 per kg. 30 count poly spun yarn was sold at ₹190-200 per kg, while recycled 30 count poly spun yarn at ₹175-185 per kg. Acrylic NM (2/48) was priced at ₹330-340 per kg, whereas acrylic NM (2/32) was at ₹280-290 per kg.
The price of PSF remained unchanged at ₹123 per kg. Reliance Industries Limited (RIL) has fixed prices of raw material as: PTA ₹92.40 per kg (up ₹0.50) and MEG ₹61.30 per kg (up ₹0.50) and MELT at ₹106.20 per kg, as per TexPro.
In the global market, ZCE cotton yarn May 2022 futures traded higher by CNY 120 at CNY 26,795 per ton, and September 2022 traded up by CNY 100 at CNY 27,670 per MT today. ZCE cotton May lost CNY 90 to CNY 21,225 per MT and September contract traded up by CNY 10 to CNY 21,230 per MT.
ICE cotton futures settled Tuesday’s session higher, after declining in the previous session, tracking gains in broader financial markets. ICE cotton contracts for July rose 0.01 cent to 142.94 cents per lb. December contract rose 0.54 cent to 124.17 cent per lb.
In north India, cotton prices remained firm for the second day in a row due to good demand from spinning mills, while daily arrivals declined. Cotton futures also gained at local exchange. In Punjab, cotton was quoted at ₹97,400 to ₹97,700 per candy of 356 kg. In Haryana, cotton prices were ruling at ₹96,000 to ₹97,600 per candy. In Upper Rajasthan, cotton was sold at ₹97,600 to ₹97,750 per candy. In Lower Rajasthan, cotton prices were noted at ₹95,500 to ₹99,400 per candy.
Fibre2Fashion News Desk (KUL)
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