Industrial Cluster: Cotton Yarn Prices In Northern India Rose Sharply Last Week

Cotton yarn prices remained stable on Friday after rising raw material prices led to a sharp rise in cotton yarn prices last week.

"Today's inquiries are very limited because yesterday was the end of the fiscal year and buyers were still busy checking their accounts. However, trade activity is expected to improve next week," said one trader based in Delhi

Traders expect cotton yarn demand to improve across the northern Indian market, including Delhi and ludiana, as textile companies will have to buy Yarn to meet summer clothing demand. Traders acknowledged that the rise in cotton yarn prices made buyers uneasy and cautious, but they were optimistic that there would be purchases to meet future demand.

In northern India, cotton yarn prices rose sharply last week.

Pannipat, the main hub of furniture textiles, expects export demand to increase in the next few days. Sanjiv DAVAR, a yarn trader from pannipat, said export demand is expected to improve in the near future. The United States and the Gulf are the main markets for pannipat sheets and other furniture. Europe is also the main market for these products, but some areas have been affected by the Russian Ukrainian war.

Globally, the main cotton contract of Zhengzhou Commodity Exchange closed at 21740 yuan / ton on Friday, with a daily drop of 0.07%.

Ice's may cotton contract fell 1.14 cents on Friday to settle at 134.55 cents a pound.

In northern India, cotton prices fell on Friday as demand from cotton mills fell, but daily deliveries improved. Ice cotton short momentum also pressure on the Indian market sentiment.