Cotton yarn prices have moved upside during last couple of days due to higher demand from local downstream industries. Ludhiana market has witnessed a hike of ?5 per kg in last 3-4 days. Delhi and Kolkata markets have seen price rise of ?2-3 per kg. The demand for cotton yarn picked up after down fall of around 5-10 per cent due to Omicron variant worries.
Cotton yarn of 20 and 30 counts in combed and carded varieties gained ?5 per kg in Ludhiana. 20 counts combed yarn was quoted at ?325-335 per kg and 25 counts combed at ?330-340 per kg. Same price trend was witnessed in Delhi and Kolkata markets. However, recycled cotton yarn remained stable in Panipat, except for 20 count recycle coloured yarn which was traded up by ?5 at ?100-125 per kg.
According to market sources, buyers were keen to purchase the products at current attractive prices. The prices are hovering at quite lower levels from their peak. A Ludhiana-based trader told Fibre2Fashion that cotton yarn prices are gaining because of the upcoming summer season. Demand of cotton is likely to pick up in the coming week as summer clothing season is set to begin. Trade sources said that cotton yarn prices are expected to gain further in the current scenario.
In the global market, ZCE cotton yarn May 2020 was traded lower by CNY 70 at CNY 26,510 per MT. On Friday, New York Cotton March 2022 closed at US cents 106.23 with down fall of 36 points, May 2022 closed at US cents 104.93, down 31 points, July 2022 closed at 102.8 cents, down 30 points. But north India cotton gained ?200-250 to ?60,000-62,000 per candy of 356 kg each.