There was no sign of improvement in buying in domestic or export markets, according to trade sources. Cheaper cotton and cotton yarn also added to the woes of polyester yarn. A Ludhiana based trader said
“Mills are offering even lower prices as buyers remained absent. Decline in polyester yarn prices left spinning mills in losses during the last one week. The mills are now facing disparity of ₹5-10 per kg for polyester yarn due to the recent decrease.”
The downward trend continued in cotton prices in north India as arrival is increasing gradually. Spinners’ buying continued to remain weak. According to traders, cotton arrival increased to 6,500 bales of 170 kg in north Indian region and cotton prices decreased by ₹300-350 per maund of 37.2 kg. New cotton was traded at ₹7,500-7,550 per maund for ready delivery in Haryana, Punjab and Rajasthan, October delivery deals were finalized at ₹7,200-7,220 per maund and full September delivery cotton was traded at ₹7,400-7,450 per maund.