Few counts and varieties of polyester and polyester-cotton yarn were traded higher in Ludhiana owing to better demand. The hike in price of raw material of polyester staple fibre (PSF) by Reliance Industries Limited (RIL) supported prices of polyester value chain. But ease in freight charges and US dollar may cause decline in PSF prices.
A Ludhiana based trader told, “Demand improved in polyester and PC yarn market. Domestic market focused Ludhiana market ultimately witnessed better buying. RIL had increased PSF raw material prices due to stronger dollar and other factors. The market leader of PSF and its raw materials had increased prices by up to 2.5 percent for this week.” However, there was certain degree of uncertainty about the demand in the north Indian market. According to trade sources, container freight charges decreased by about 3 US cent per kg. Weaker dollar may also reduce landed prices of imported PSF and other material. Therefore, polyester value chain can see downward trend in near future.
In Ludhiana market, few counts and varieties of polyester-cotton and polyester yarn prices improved due to rise in raw material prices and better buying. 30 count PC combed yarn (48/52) was sold at Rs. 260-274 per kg (GST inclusive) with increase of Rs. 2 per kg, according to market insight tool TexPro. 30 count PC carded yarn (65/35) was priced at Rs. 220-230 per kg. 20 count PC (recycled-O/E) PSF yarn (40/60) was traded at Rs. 180-190 per kg. 30 count poly spun yarn was sold at Rs. 175-187 per kg. High tenacity recycled fibre was priced at Rs. 88-92 per kg. The prices of 20 count PC (recycled-O/E) PSF yarn (40/60) increased by Rs. 5 per kg. High tenacity recycles fibre also gained Rs. 2-3 per kg.
Reliance Industries Limited had earlier increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. The price of PSF remained steady at Rs. 120 per kg. RIL has fixed prices of raw material as: PTA Rs. 88.10 (+2.50) per kg, MEG Rs. 56 per kg (+0.40) and MELT at Rs. 94.81 (+2.29) per kg, as per TexPro.
Meanwhile, cotton prices gained further in north India as arrivals were minimal amid improving demand. According to traders, spot market prices gained Rs. 100-150 per maund of 37.2 kg. Cotton was sold at Rs. 8,800-9,400 in Punjab, Rs. 8,500-9,000 in Haryana and Rs. 9,250-9,450 per maund in Upper Rajasthan. Cotton was sold at Rs. 85,000-87,000 per candy of 356 kg in lower Rajasthan.