On March 3, it was reported that cotton yarn in southern India remained stable as the Holi Festival (the traditional Indian Spring Festival) approached and factory workers had a holiday. Traders said that the lack of labor and financial settlement in March slowed down production activities. Compared with export demand, domestic demand is weak, but prices remain stable in Mumbai and Tirup.
In Mumbai, downstream industry demand is weak. However, the export purchasing demand improved slightly, and the cotton yarn price remained stable.
Jami Kishan, a Mumbai trader, said: “The workers were on holiday for the Holi Festival, and the financial settlement in March also depressed production activities. Therefore, domestic demand slowed down. However, there was no sign of price decline.”
In Mumbai, the price of 60 pieces of combed yarn with different warp and weft is 1525-1540 rupees and 1450-1490 rupees per 5kg. According to TexPro, the price of 60 combed warp yarns is 342-345 rupees per kilogram. The price of 80 combed weft yarns is 1440-1480 rupees per 4.5 kg. The price of 44/46 warp yarns is 280-285 rupees per kilogram. The price of 40/41 counts of combed warp yarn is 260-268 rupees per kilogram; 40/41 counts of combed warp yarn 290-303 rupees per kilogram.
The price is also stable in Tirup. Trade sources said that half of the demand may support the current price. Tamil Nadu plant operates at 70-80% capacity. The market may find support when the industry updates the output of the next fiscal year next month.
In Tirupu, the price of 30 counts of combed cotton yarn is 280-285 rupees per kilogram, 34 counts of combed cotton yarn is 292-297 rupees per kilogram, and 40 counts of combed cotton yarn is 308-312 rupees per kilogram. According to TexPro, 30 cotton yarns are sold at Rs 255-260 per kilogram, 34 cotton yarns at Rs 265-270 per kilogram, and 40 cotton yarns at Rs 270-275 per kilogram.
In Gubang, cotton prices fell again after a slight increase in the previous trading day. Trade sources said that textile manufacturers were buying cotton, but they were very cautious about the price. The cotton mill tried to catch a cheaper deal. It is estimated that the arrival volume of cotton in India is about 158000 bales (170 kg/bag), including 37000 bales of cotton in Gubang. The price of cotton hovers between 62500-63000 rupees per 365 kg.
Post time: Mar-08-2023