Cotton yarn prices remain flat on weak demand in northern India
Foreign news on April 12 said that due to continued weak demand for cotton yarn in the Ludhiana, Delhi, and Panipat markets, cotton yarn prices in northern India remained unchanged. Due to uncertainty in market conditions, fabric manufacturers, loom owners are producing limited quantities of fabrics. Traders said demand for cotton yarn has been weak since the beginning of the new fiscal year. Fabric manufacturers are facing sluggish purchasing in the apparel industry, with lower profit margins preventing them from producing more fabric. Prices of gray fabrics and finished fabrics did not rise due to weak demand in the apparel industry.
A trader in Ludhiana said that despite weak demand, cotton yarn has not lowered its quotation. Cotton yarn prices are facing a bearish tone, but a higher spread between the market and cotton mills is not feasible. According to market insight tool TexPro, in Ludhiana, 30 count combed yarn is priced at Rs 400-420/kg, 30 count carded yarn is priced at Rs 375-395/kg, 20 and 25 count combed yarn is priced at Rs 385-405 and 390-410 rupees/kg.
Delhi market prices are also stable due to weak demand. A trader said there is a cyclical trend in demand, with buyers taking a stance for a two-week period and returning to the market the following two weeks. In the Delhi market, the price of 30-count combed yarn is 390-410 rupees/kg, the 40-count combed yarn is 440-460 rupees/kg, the 30-count carded yarn is 375-385 rupees/kg, and the 40-count carded yarn is 415. -Rs 425/kg.
The price of recycled yarn in the Panipat market also remained stable. Traders pointed out that the current weak demand does not support the upward price trend. In Panipat market, the price of 10-count recycled yarn (white) is 100-110 rupees/kg, the price of 10-count recycled yarn (colored, high quality) is 100-105 rupees/kg, and the price of 10-count recycled yarn (colored, inferior quality) is 100-105 rupees/kg. ) price is 75-80 rupees/kg, 20-count recycled yarn (colored) is priced at 130-145 rupees/kg, and 10-count optical yarn is priced at 125-130 rupees/kg.
In the global market, the 2205-month contract of Zhengzhou Commercial Exchange cotton yarn futures closed at 27,385 yuan per ton in white trading on Tuesday, down 250 yuan or 0.9%. The May cotton futures contract rose 45 yuan or 0.21% to 21,630 yuan per ton; the September contract rose 245 yuan or 1.17% to 21,145 yuan per ton.
Intercontinental Exchange (ICE) cotton futures rose more than 2% on Monday, following the general rally in commodities and also providing support for concerns about drought in key cotton-producing areas. The front-month 2205 contract rose 2.88 cents or 2.2%, with a settlement price of 135.29 cents/pound.
An analyst said: The U.S. Department of Agriculture’s (USDA) monthly supply and demand report is mainly neutral to slightly bearish. Global end-of-year inventories rise. It is worth noting that end-of-year inventories have been declining almost continuously before, and this increase may mean the end of the decline.
In northern India, cotton prices remained stable for the second consecutive day on Monday as daily arrivals decreased due to limited demand from cotton mills. In Haryana, cotton is quoted at 89,000-91,000 rupees per kanti. In upper Rajasthan, cotton price is 91,600-92,000 rupees/kanti. In lower Rajasthan, cotton prices for spot delivery remained flat at 86,400-88,300 rupees/kanti.
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