Cotton yarn prices further increased in Mumbai market today. Traders said that the prices gained from seller side due to optimism, but actual demand remained muted. Tiruppur market witnessed higher buying from weavers, especially for cheaper weft yarn of higher counts, but the prices remained unmoved. There was lack of confidence for demand.
Cotton yarn prices increased further in Mumbai market due to better sentiments. Cotton yarn prices gained Rs. 2-5 per kg. However, demand was not fully supportive. A trader told, “Cotton yarn prices gained as mills and stockiest were trying to jack up. However, demand is yet to pick up.” According to trade sources, lower quality yarn was witnessing better buying as per seasonal trend. 60 count carded cotton yarn of warp and weft varieties were traded at Rs. 1,770-1,870 and Rs. 1,630-1,670 per 5 kg (GST extra) respectively. Carded cotton yarn (44/46 count) of warp variety was traded at Rs. 1,620-1,650 per 5 kg. 80 count carded cotton yarn of weft variety was sold at Rs. 1,750-1,770 per 4.5 kg. 40 count carded cotton yarn (warp) was sold at Rs. 330-332 per kg. 40 count combed yarn (warp) was priced at Rs. 400-410 per kg, according to market insight tool TexPro.
Tiruppur market noted better buying as weavers are looking for cheaper cotton yarn. Traders said that buyers are showing interest to buy low quality weft cotton yarn in higher counts which is cheaper than warp yarn. According to trade sources, low quality weft yarn can be consumed specially in the rainy season. Fabric defects caused by lower quality yarn can be faded in moist season. The weather is also favourable to use lower strength yarn. The traders were more confident for improvement in demand. However, yarn prices were noted at previous levels. 30 count combed cotton yarn was traded at Rs. 360-364 per kg (GST extra), 34 count combed at Rs. 370-374 per kg and 40 count combed at Rs. 375-380 per kg. Cotton yarn of 30 count carded was sold at Rs. 310-320 per kg, 34 count carded at Rs. 322-325 per kg and 40 count carded at Rs. 327-330 per kg, as per TexPro.
In Gujarat, cotton prices were steady while demand was average from spinners. Buyers were reluctant for buying at current prices. The consignments of imported cotton are getting delayed at a time when importers are in trouble because of depreciation of rupee against the US dollar and down trend in the prices of cotton. Shankar-6 cotton was traded at Rs. 76,000-86,000 per candy of 356 kg in spot market of Gujarat.
