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    Higher cotton prices in Ludhiana’s Indian hub increase cotton yarn

    High cotton prices pushed up the price of cotton yarn by £ 10-20 per kg at Ludhiana’s North Indian knitwear hub, despite low demand. However, cotton yarn prices remained stable in the other North Indian markets of Delhi and Panipat. Uncertainty about trading activity and the severity of the third COVID wave also reduced market sentiment.

    Cotton prices have been stable in the North Indian market today, but have risen by about £ 800-1,000 per 356 kg candy since mid-last week. As a result, spinning mills have increased the price of cotton yarn throughout the North Indian market, according to market sources.

    According to trade sources, the slightly stronger demand allowed spinners to achieve price increases in the Ludhiana market, but the same could not have happened in Delhi. According to traders, the consumer industry is buying a very limited amount of yarn just because of an urgent need.

    High cotton prices pushed up the price of cotton yarn by £ 10-20 per kg at Ludhiana’s North Indian knitwear hub, despite low demand. However, cotton yarn prices remained stable in the other North Indian markets of Delhi and Panipat. Uncertainty about trading activity and the severity of the third COVID wave also reduced market sentiment.

    Suresh Gupta, a trader and patron of the Delhi Yarn Merchant Association, said: Fiber2Fashion Recent new restrictions in the third wave of coronavirus have also disrupted market activity. Traders and downstream industries are facing the problem of smooth functioning due to concerns about the spread of the coronavirus.

    In Ludhiana, 20-count and 30-count cotton yarns of combed varieties were traded 20 pounds higher, at 355 to 365 pounds per kg and 365 to 375 pounds per kg, respectively. 30 count card yarn was estimated at 330-340 pounds per kg. However, in Delhi, 30-count cotton cards are 370-380 pounds per kg, 40-count cotton cards are 410-420 pounds per kg, 30-count cotton cards are 350-360 pounds per kg, and 40 counts are 380. It was trading stably at ~ 380 pounds. According to 390 per kg Fibre2 Fashion’s market analysis tool TexPro.. The 10-count weave (O / E) yarn was estimated at 125-130 pounds per kg, while the 16-count weave (O / E) was 165-170 pounds per kg.

    Panipat, the regenerated yarn market in North India, also recorded a stable trend. The market recorded prices as follows: 95-100 pounds per kg of 10-second recycled yarn (white), 90-100 pounds of 10-second recycled yarn (dyed) per kg, and 100-125 pounds per kg. 20 seconds recycled thread (dyeing). 10s optical yarn was trading on the market for 90-100 pounds per kg.

    Cotton prices were stable in the North Indian state markets on Monday amid limited demand from factories. However, the arrival of cotton every day has increased. Cotton prices have shown stable trends in the last two trading sessions in a row. However, last week’s prices witnessed an increase of £ 800-1,000 per 356 kg of candy. In Punjab, spot delivery prices for cotton were estimated at £ 67,900-69,700 per candy. In Haryana, spot shipping prices for cotton were estimated in the range of £ 68,100 to £ 68,800 per candy. In Upper Rajasthan, spot delivery prices for cotton were estimated at £ 69,700 to £ 70,200 per candy. In Lower Rajasthan, spot shipping prices for cotton have fallen from £ 68,000 to £ 70,000 per candy.

    In the world market, ZCE cotton yarn futures in January 2022 fell RMB27,730 per ton by RMB255, and in May 2022 RMB28,525 per ton fell RMB130. ICE cotton futures rose last Friday amid a weak dollar. The March 2022 cotton contract closed at 115.12 cents, up 40 points. In May 2022, it closed at 112.88 cents, up 60 points. And in December 2022, it closed at 94.52 cents, up 53 points.

    Fiber2Fashion News Desk (KUL)

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    Higher cotton prices in Ludhiana’s Indian hub increase cotton yarn

    Source link Higher cotton prices in Ludhiana’s Indian hub increase cotton yarn

    The post Higher cotton prices in Ludhiana’s Indian hub increase cotton yarn appeared first on Eminetra.

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