India’s polyester-cotton yarn and recycled polyester fibre have noted a downward trend due to selling pressure in the absence of buyers. However, poly-spun yarn prices have remained stable. A similar trend was noted in viscose yarn in the Mumbai market. There are worries about imports after the imposition of Quality Control Orders (QCOs) on polyester and viscose. However, poor demand has not supported prices to go up.
The Ludhiana market has noted a fall in PC yarn prices, with prices easing down by Rs. 2-5 per kg due to weak demand. A trader from the Ludhiana market told, “Demand from the downstream industry was very poor. Polyester-cotton yarn prices were sliding due to selling pressure from mills and stockists.” Traders expect support from better demand due to the shift towards cheaper fibres like polyester and viscose. The seasonal trend should also boost buying of polyester and viscose, but currently, these factors are absent from the market.
Poly-spun yarn prices have remained unchanged in the market, with 30 count poly-spun yarn priced at Rs. 155-163 per kg (GST inclusive) in the Ludhiana market. However, 30 count PC combed yarn (48/52) was sold at a lower price of Rs. 215-228 per kg (GST inclusive) in Ludhiana. 30 count PC carded yarn (65/35) remained stable at Rs. 200-210 per kg. Recycled polyester fibre (PET bottle fibre) was noted at Rs. 75-78 per kg, according to market report.
Sluggish demand persisted in Surat market too. The prices of poly spun yarn were steady, with 30 count poly spun yarn trading at Rs. 142-143 per kg (GST extra) and 40 count poly spun yarn at Rs. 158-159 per kg. In Mumbai, 30 viscose yarns (local) were priced at Rs. 193-200 per kg (excluding GST). Imported yarn of the same variety was also traded at similar price levels. According to trade sources, demand was so poor that worries about disruption in imports after the imposition of QCOs failed to support market sentiments. If the imports get affected due to quality measures, viscose as well as polyester yarn may find support.
Reliance has maintained the prices for purified terephthalic acid (PTA), monoethylene glycol (MEG), and MELT for the current week. The prices were fixed at Rs. 89.70 per kg for PTA (unchanged), Rs. 53.00 per kg for MEG (unchanged), and Rs. 95.16 per kg for MELT (unchanged). Previously, the company had increased the price of polyester staple fibre (PSF) by Rs. 2 to Rs. 110 per kg for this fortnight.
North Indian cotton prices witnessed a bearish trend today after a slight gain in previous sessions. North India’s cotton arrival was lower, and demand was poor. Traders said that there was movement from cotton futures, but demand from spinners was slow. Cotton arrival further decreased to 5,500 bales of 170 kg in North India. It was traded at Rs. 6,225-6,325 per maund in Punjab, Rs. 6,225-6,325 per maund in Haryana, and Rs. 6,400-6,500 per maund in upper Rajasthan, and at Rs. 60,000-61,800 per candy of 356 kg in lower Rajasthan.
