Better demand led to few counts and varieties of polyester and polyester-cotton yarn trading higher in Ludhiana. The hike in price of polyester staple fibre (PSF) by Reliance Industries (RIL) supported prices of polyester value chain. But ease in freight charges and US dollar may cause decline in PSF prices.
As per a Ludhiana based trader, demand improved in polyester and PC yarn market. The Ludhiana market y 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 per cent 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 was sold at Rs 260-274 per kg (GST inclusive) with increase of Rs 2 per kg, 30 count PC carded yarn (65/35) was priced at Rs 220-230 per kg. 20 count PC (recycled-O/E) PSF yarn 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 recyclefibre also gained ₹2-3 per kg.
Reliance Industries 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
Meanwhile, cotton prices gained further in north India as arrivals were minimal amid improving demand. According to traders, spot market prices gained ₹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 ₹9,250-9,450 per maund in Upper Rajasthan. Cotton was sold at Rs85,000-87,000 per candy of 356 kg in lower Rajasthan.