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Sunday, May 26, 2024

North India’s cotton yarn prices ease further, debate on support level

North India’s cotton yarn prices continue their downward trajectory as prices in Ludhiana fell by ₹10-15 per kg, while prices in Delhi slipped by ₹5 per kg today. Traders are assessing the bottom line of the cotton yarn prices with some of them expecting 30 combed yarn to bottom out at ₹300 per kg. Recycled yarn prices remained steady in Panipat.

Ludhiana market witnessed a drop in cotton yarn prices as spinning mills have decreased yarn prices due to declining cotton prices. However, cotton prices steadied in the last week as farmers were discouraged from selling their crop at lower prices. Traders are currently evaluating the bottom line of yarn prices in the present market trend and the future scenario of demand and supply. “30 combed yarn should find support at ₹305-310 per kg (GST extra). However, many factors will determine the bottom line of the product. The prices should come down further by ₹10-15 per kg,” said a trader from Ludhiana market.

In a couple of days, cotton yarn prices eased by ₹10-15 per kg in the Ludhiana market. 30 count cotton combed yarn was sold at ₹315-325 per kg (GST inclusive), 20 and 25 count combed yarn were traded at ₹305-315 per kg and ₹310-320 per kg respectively. Carded yarn of 30 count was quoted at ₹270-280 per kg.

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