Foreign news on June 26th: Cotton yarn trading in northern India started sluggishly this week, with cotton yarn prices in Ludhiana and Delhi falling. But even so, lower prices are attracting interested buyers, and buying interest in Delhi is expected to improve as inquiries increase. As cotton costs fall, cotton mills have also cut prices to attract customers. But Panipat recycled yarn remains stagnant, with weaker retail consumer demand for homewares hampering buying momentum.
Ludhiana cotton yarn prices continue to fall, reflecting that sentiment is still bearish. Buying interest from the consumer sector and exporters has not improved, which is one of the reasons for the weak trend. A trader in Ludhiana said: “The bearish atmosphere has not dissipated, and buyers are still unwilling to sign new orders.” The price of 30-count combed yarn is 260-270 rupees per kilogram (including goods and services tax), 20 250-255 rupees per kilogram for count and 25 count combed yarn and 255-260 rupees per kilogram. The trading price of 30-count carded yarn is 240-250 rupees per kilogram.
Although cotton yarn prices in Delhi also weakened, traders expect lower prices to attract more buying interest. A trader in Delhi said: “As inquiries increase, demand is stabilizing. The current price is more attractive to buyers.” In the past few days, cotton yarn prices have fallen by 3-5 rupees per kilogram. 30 count combed yarn is trading at Rs 260-265 per kg (excluding GST), 40 count combed yarn is at Rs 285-290 per kg, 30 count carded yarn is trading at Rs 232-237 per kg, 40 count carded yarn Yarn 262-267 rupees per kg.
Panipat recycled yarn is relatively calm, and buyers are more cautious when placing new orders. Recycled yarn has been facing sluggish demand in domestic and foreign markets. Traders are unsure about demand levels during the upcoming festive season next month. 10s recycled PC yarn (grey) is trading at Rs 77-82 per kg (GST paid). The price of 10s recycled PC yarn (black) is 48-52 rupees per kilogram, 20s recycled PC yarn (grey) is 92-97 rupees per kilogram, and 30s recycled PC yarn (gray) is 135-140 rupees per kilogram. Combed price hovers between Rs 120-122 per kg. Recycled polyester fiber (PET bottle fiber) price is 69-72 rupees per kilogram.
Cotton prices in northern India continue to fall despite reduced cotton supplies and ginners reducing inventories. Reduced purchases by spinning mills led to a fall in cotton prices. Traders expect cotton yarn prices to fall further by 50-75 rupees per morind (1 morind = 37.2 kg). The arrival volume of cotton dropped to only 1,000 bales (1 bale = 170 kg). Market participants speculate that cotton ginners hold 150,000 bales of inventory, which is lower than the same period in previous years. Cotton is traded at 5,800-5,900 rupees per morind in Punjab, 5,550-5,600 rupees per morind in Haryana and 5,900-6,000 rupees per morind in upper Rajasthan. The price of natural cotton in lower Rajasthan is 54,500-56,000 rupees per kandi (1 kandi = 356 kg).
