The global banking crisis has made the weak emotions currently affecting the North Indian cotton yarn market much worse. Limited buying is having an impact on traders, particularly as March closes. Although cotton yarn prices in north India have remained constant, dealers are anticipating more demand in April. The recycled yarn industry in Panipat is likewise mired in unfavourable feelings, which could last for some time.
Due to a lack of interest from buyers in new purchases, cotton yarn prices in the Ludhiana market have remained constant. “The focus on annual reconciliation by purchasers often causes the final two weeks of March to stay poor. “Traders prefer a wait-and-watch approach because the global banking crisis has added to the market’s problems this year,” a trader from Ludhiana market said in Delhi. The price of cotton yarn was unchanged from before. “The buying is projected to continue weak until the end of March, with the market expected to witness activity in the first week of April,” a trader from the Delhi market told F2F. Next month, cotton yarn might be supported if ICE cotton gains. At this market, 30 count combed yarn was sold for between 285-290 (plus GST) per kg, 40 count combed for between 315 and 320 kg, 30 count carded for between 266-270 kg, and 40 count carded for between 295 and 300 kg.
The recycled yarn market in Panipat also experienced a decline, with reduced demand being linked to subpar export orders. The majority of the kinds and counts were traded at earlier levels, and buyers were just buying yarn to meet urgent need. According to a Panipat-based trade source, the declining trend might last longer. Only in July, when demand will increase for domestic festivals, can the market anticipate improvement.
According to TexPro, 10s recycled PC yarn (grey) was sold for between 88 and 92 rupees (plus GST), 10s recycled PC yarn (black) for between 60 and 65 rupees, 20s recycled PC yarn (grey) for between 100 and 105 rupees, and 30s recycled PC yarn (grey) for between 150 and 155 rupees. Comber costs between 140 and 142 pence per kilogramme, while recycled polyester fibre (made from PET bottles) costs between 73 and 75 pence per kilogramme.
The cost of cotton in North India remained stable, and there was adequate demand to use up the supply. Due to a balance between cotton supply and demand, prices remained constant. . In Punjab and Haryana, cotton was sold for $6,080 to $6,180 per maund of 37.2 kg, and in upper Rajasthan, it cost $6,300 to $6,400 per maund. In lower Rajasthan, cotton was priced between 58,500 and 60,500 per candy weighing 356 kg. The shipment from North India contained 11,000 170 kg bales.
