Cotton yarn prices in Ludhiana rose by Rs. 2 per kg due to an aggressive sales strategy. Trading was limited due to the Holi festival, which will be celebrated on March 7-8 in various states. Traders expect that the market will reassess the demand and supply of cotton yarn after the festival. Panipat also noted a muted tone due to low buying and festive mood.
While the Ludhiana market witnessed slight gains in cotton yarn prices, trading was limited due to the festive mood. A trader from the Ludhiana market told, “Spinning mills were aggressive in selling their production of cotton yarn, which further supported the rise in prices of the products. Cotton yarn prices increased by Rs. 2 per kg in the market.”
In Ludhiana, 30 count cotton combed yarn was sold at Rs. 285-295 per kg (GST inclusive). 20 and 25 count combed yarn was traded at Rs. 275-285 per kg and Rs. 280-290 per kg, respectively. Carded yarn of 30 count steadied at Rs. 264-274 per kg, according to a market report.
In Delhi, the festive mood affected trading activities and the prices remained stable due to limited buying from the consumer industry and export market. A trader from the Delhi market told, “There was limited trade in the cotton yarn market, and buyers were not active in making deals. They will show interest in buying only after the festival.” In this market, 30 count combed yarn was traded at Rs. 285-290 per kg (GST extra), 40 count combed at Rs. 315-320 per kg, 30 count carded at Rs. 266-270 per kg, and 40 count carded at Rs. 295-300 per kg, as per market report.
The recycled yarn market in Panipat remained unmoved due to the festive mood and slower buying. A trade source from Panipat said that the cotton yarn trade remained range-bound due to poor buying from spinning mills. 10s recycled PC yarn (grey) was traded at Rs. 88-92 per kg (GST extra). 10s recycled PC yarn (black) was traded at Rs. 60-65 per kg, 20s recycled PC yarn (grey) at Rs. 105-110 per kg, and 30s recycled PC yarn (grey) at Rs. 150-155 per kg. Comber prices were noted at Rs. 155-160 per kg, while recycled polyester fibre (PET bottle fibre) noted at Rs. 74-77 per kg.
Cotton prices in North India were hovering near last week’s levels, with demand from spinners remaining steady. However, the arrival was also balanced to meet the demand. According to traders, the market will take direction after Holi. Cotton was traded at Rs. 6,300-6,375 per maund of 37.2 kg in Punjab, Rs. 6,300-6,400 per maund in Haryana, and Rs. 6,525-6,600 per maund in upper Rajasthan, and at Rs. 60,300-62,300 per candy of 356 kg in lower Rajasthan.
