Foreign news on May 5th: The demand for cotton yarn in southern India continues to be sluggish, and the price of cotton yarn in the Tirupur market fell by 2-4 rupees/kg on Thursday. Clothing export orders are not enough to support the market, and textile mills and stockists are facing pressure to clear inventory.
Facing payment problems in the Mumbai market due to weak market demand for fabrics.
The demand for cotton yarn in the downstream industry in southern India continues to be sluggish. The price of cotton yarn in the Tirupur market fell, but the Mumbai market was basically stable, with only 40-41 carded warp yarns being pressured by sluggish demand. Traders said there were no signs of improvement in the current sluggish demand situation. Clothing export orders are not enough to support the market.
Cotton yarn prices fell in the Tirupur market, with no support from exports or domestic demand.
A trader in the market said: “Clothing export orders cannot support the price of cotton yarn. Textile mills and stockpilers are facing pressure to clear inventory.”
In the Tirupur market, 30-count worsted yarn was quoted at 276-280 rupees per kilogram, 34-count worsted yarn was quoted at 286-290 rupees per kilogram, and 40-count worsted yarn was quoted at 286-290 rupees per kilogram. 303-308 rupees; 30-count slub yarn is priced at 248-254 rupees per kilogram, 34-count slub yarn is priced at 254-258 rupees per kilogram, and 40-count slub yarn is priced at 261-266 rupees per kilogram.
The prices of most varieties of cotton yarn in the Mumbai market are stable. The payments crisis has led to sluggish demand, putting pressure on the market. A trader in the Mumbai market said: “The downstream industry has encountered a payment crisis, the fabric market demand has dropped, and the cotton yarn market cash flow has dried up.”
But cotton yarn prices have declined this week After an initial decline, it remained stable. In the Mumbai market, 60-count woolen warp and weft yarns are quoted at 1500-1530 rupees and 1360-1400 rupees per 5 kg, 60-count worsted warp yarn is 350-353 rupees per kilogram, 80-count woolen weft yarn is quoted at 1460-1500 rupees per 4.5 kg, 44/ 46 count slub warp yarn is 275-280 rupees per kilogram, 40/41 count slub warp yarn is 260-270 rupees per kilogram, down 5 rupees, 40/41 count worsted warp yarn is 295-305 rupees per kilogram.
In Gujarat, cotton prices are on an upward trend, driven by the rise in ICE cotton futures. Traders said that cotton purchase prices at ginneries were higher, but sellers were unwilling to take orders. The price of cotton yarn was quoted at 61,500-61,700 rupees per kandi, which was increased by 400-500 rupees. The arrival volume of cotton in Gujarat is 25,000-28,000 bales. The total arrival of cotton in India is estimated to be about 80,000 bales.
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