Low demand and high prices limit cotton yarn trade in South India

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Low demand and rising cotton yarn prices have limited trade in the South Indian cotton yarn market today. In Mumbai, the price of cotton yarn has risen by up to £ 55 per 5 kg for selected varieties. According to traders, prices have risen due to the high cost of natural fibers, but demand remains very weak and only forced purchases of export orders have been realized.

There were no deals on the Tilpur market today due to a two-day strike in the textile city. The Tilpur Exporters Association (TEA) called for a strike on January 17th and 18th, 2022.

In the Mumbai market, 60 counts of warp and weft were traded at £ 1,950-2,010 per 5 kg and £ 1,690-1,740 per 5 kg, respectively. Warp and weft types traded flat, while warp and weft types saw price increases of £ 20-40 per 5 kg. The 80-count worsted cotton yarn of the warp and weft variety sold out at 65-70 pounds, ranging from 1,880 to 1,920 pounds per 4.5 kg. The warp type worsted cotton yarn (44/46 counts) was sold at £ 1,720-1,780 per 5 kg and was valued at £ 20 per 5 kg.

Low demand and rising cotton yarn prices have limited trade in the South Indian cotton yarn market today. In Mumbai, the price of cotton yarn has risen by up to £ 55 per 5 kg for selected varieties. According to traders, prices have risen due to the high cost of natural fibers, but demand remains very weak and only forced purchases of export orders have been realized.

In the Mumbai market, rising cotton prices have pushed up cotton thread prices. However, demand did not support market sentiment. According to market sources, buyers were only looking for new deals when there was an urgent need, such as fulfilling an export promise. Buyers are now buying cotton yarn in small quantities due to urgent need. Due to the high price of cotton yarn, fabric manufacturers are trying to maintain production. Bhiwandi’s power room may be closed for the next 3-4 days to manage inventory of mounting fabrics. However, normal production is carried out at Ichar Karangi.

Another source from Ahmedabad said Fiber2Fashion Production is slow at this vibrant textile hub as the domestic summer clothing season hasn’t started yet. The high price of cotton thread also hinders production activities. Although cotton yarn is in excess, the required varieties of gray fabric are not available due to the decline in fabric production due to rising yarn prices. “Fabric manufacturers are afraid of losses at current production costs. Clothing and apparel manufacturers are looking for finished gray fabrics, but production for the summer season has not yet begun properly. , Not ready to pay a higher price. “

Meanwhile, cotton prices have risen further in the domestic market. In Maharashtra, the price of cotton soared £ 200-300 per 356 kg candy amid rising demand and arrivals from spinning mills. The price of cotton (30mm varieties) in the Nagpur and Yavatmal lines was dominated between £ 77,300 and £ 77,800 per candy. At the Jargaun line, 29mm RD 75 varieties of cotton sold for £ 74,000-75,500 per candy. The price of 30 plus mm RD 75 varieties of cotton on the state’s Silod line ranged from £ 77,300 to £ 78,7200 per candy.

ZCE cotton yarn May 2022 futures fell RMB 28,925 per ton, RMB 220, and September 2022 RMB 28,385 per ton, RMB 150. There were no ICE cotton deals on Monday.

Fiber2Fashion News Desk (KUL)

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Low demand and high prices limit cotton yarn trade in South India

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