South Indian cotton yarn market may even see bearish pattern until mid-Feb

Cotton yarn costs remained regular in southern and western India’s markets as demand from downstream business continued to stay bearish. In keeping with merchants, demand will not be possible to enhance earlier than mid-February. As soon as the material producers exhaust their yarn stock, they might want to purchase new yarn, and demand will enhance at the moment.

In western indian metropolis of Mumbai, spinners quoted increased costs, however no commerce materialised at these charges, so efficient market costs hovered close to earlier ranges. A dealer from Mumbai advised Fibre2Fashion that mills have elevated their promoting costs by ₹3-5 per kg as their manufacturing price moved up resulting from costlier cotton. However there was no commerce at increased costs.

In Mumbai, because the spinning mills have elevated yarn costs by ₹3-5 per kg, the hole between mills’ provide costs and market costs widened. In Mumbai market, 60 depend carded cotton yarn of warp and weft varieties had been traded at ₹1,930-1,990 per 5 kg and ₹1,670-1,730 per 5 kg respectively. 80 depend carded cotton yarn of weft selection was bought at ₹1,860-1,900 per 4.5 kg. Carded cotton yarn (44/46 depend) of warp selection was traded regular at ₹1,720-1,740 per 5 kg.

Cotton yarn costs remained regular in southern and western India’s markets as demand from downstream business continued to stay bearish. In keeping with merchants, demand will not be possible to enhance earlier than mid-February. As soon as the material producers exhaust their yarn stock, they might want to purchase new yarn, and demand will enhance at the moment.

The knitwear hub of Tiruppur additionally witnessed regular pattern in cotton yarn with bearish tone as demand was very weak. In keeping with market sources, exporters had been shopping for cotton yarn in restricted amount, which was not sufficient to enhance market sentiments.

Cotton yarn 30 depend combed selection was traded in Tiruppur at ₹365-375 per kg, 34 depend combed at ₹375-385 per kg and 40 depend combed at ₹400-410 per kg. Cotton yarn of 30 depend carded was bought at ₹325-335 per kg, 34 depend carded at ₹330-340 per kg and 40 depend carded at ₹350-360 per kg, in accordance with Fibre2Fashion’s market evaluation instrument TexPro.

In the meantime, ZCE cotton yarn Might 2022 futures traded decrease by CNY 235 at CNY 29,140 per ton and September 2022 traded down by CNY 250 at CNY 28,480 per MT at present. ICE cotton futures closed with blended session on Monday, whereas consideration shifted to USDA’s month-to-month provide and demand report due later this week. Cotton contract for March 2022 closed at 125.57 cents, down 117 factors; Might 2022 closed at 123 cents, down 99 factors; December 2022 closed at 104.43 cents, up 62 factors.

In Gujarat, 29 mm cotton was traded at ₹77,500-78,000 per sweet of 356 kg every. A grade cotton was bought at ₹77,500-78,000 per sweet, B grade selection at ₹76,000-77,000 per sweet and common grade cotton at ₹75,500-76,000 per sweet. Cotton of the V797 selection was quoted at ₹50,000-51,000 per sweet.

Fibre2Fashion Information Desk (KUL)