Cotton yarn prices continued to be under pressure due to sluggish demand in the Mumbai market and stocker sales. Prices fell £ 3-4 per kg as buyers remained absent. Bharatbhai Shah, a businessman based in Ichalkaranji (Maharashtra), said Fiber2Fashion“The price of yarn will fall further as the sharp price cuts by factories put pressure on other factories and stockers. However, the market has already lowered the price of yarn officially or informally. It won’t fall in the same way. As many factories offer additional discounts, prices in most factories have already been significantly reduced. Yarn prices can drop by about 10-15 pounds per kg. The fall in cotton prices has also urged flour mills and suppliers to lower yarn prices.
Cotton thread prices in South India continued to decline. The Tilpur-based SSM Group has reduced yarn prices by £ 40 per kg for all varieties and counts. This shows that we are putting pressure on the spinning mill. According to traders, most factories will feel selling pressure from development. In the Mumbai and Tilpur markets, cotton yarn prices have fallen by £ 2-5 per kg.
In the Mumbai market, 60 counts of warp and weft were traded at £ 1,890-1,940 and £ 1,675-1,725 (additional GST) per 5 kg, respectively. The warp type worsted cotton yarn (44/46 counts) traded at 1,7750-1,780 pounds per 5 kg. The 80-count worsted cotton yarn of the warp and weft variety sold at 1,730 to 1,760 pounds per 4.5 kg. 40 counts of worsted cotton thread (warp) sold for £ 328-345 per kg. According to the 40-count combed yarn (warp), the price was 385-390 pounds per kg. Fibre2 Fashion’s market insight tool TexPro.
In the tilpuru market, cotton yarn prices also fell as demand continued to be sluggish and selling weighed on market sentiment. The continued decline in cotton prices has caused a panic in the market. Traders and stockers are trying to make a profit by selling yarn.Tilpur market traders said Fiber2Fashion“Demand remained very weak. While sellers were trying to clear inventories before the plunge.” Traders were still under pressure for a £ 40 / kg price cut by a Tilpur-based factory. He said he was exposed. The market price of yarn has already fallen due to sales pressure.
In the tilpuru market, the price of cotton yarn has fallen by 2-3 pounds per kg without a buyer. 30 counts of combed cotton yarn traded at 388-393 pounds per kg (additional GST), 34 counts traded at 403 to 408 pounds per kg, and 40 counts traded at 412 to 417 pounds per kg. 30-count cotton cards were sold at 345-345 pounds per kg, 34-count cotton cards at 350-353 pounds per kg, and 40-count cotton cards at 354-356 pounds per kg. TexPro.
In Gujarat, cotton prices continued to be under pressure as inventory managers were enthusiastic about clearing inventories. Stockers and multinationals are selling stocks as the market is expected to fall further, according to trade sources. The spinning mill was reluctant to make new purchases because buyers were waiting for and monitoring the yarn. The price of Shankar-6 cotton spots has dropped to £ 87,000-91,000 per candy.
Fiber2Fashion News Desk (KUL)
South Indian cotton yarn prices fall amid sales pressure
Source link South Indian cotton yarn prices fall amid sales pressure