Spun
Yarn Prices in China
Spun yarn prices did not change in the past two weeks in
China and they are not expected moving in the near future.
Raw material costs are more stable these days with cotton,
polyester and viscose at roughly similar levels than two
weeks ago. Cotton yarn production is still rapidly rising
in the country. Cotton textile industry could increasingly
focus on high-speed production in the coming years in order
to improve productivity and develop yarn exports. TOP |
EU
Sourcing of Cashmere Sweaters
EU imports of cashmere sweaters are no more surging this
year after quotas were reimposed on shipments from China.
Retailers continue developing sales of low-priced 100% cashmere,
however, thanks to a rise in imports through Hong Kong.
Mauritian companies in Madagascar and Bangladeshi exporters
are taking advantage of new limits on Chinese products.
Import prices may decline in the next year after steadily
rising in 2005 and 2006. TOP |
Cotton
Prices rebounding in New York
Cotton futures Thursday rebounded in New York, boosted by
continued interest from speculative funds and strong export
sales in the previous week. Prices also increased on Asia's
physical markets. Cotton Outlook further raised its estimate
for ending stocks in 2006-07. TOP
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Paraxylene
January ACP settled US$30 higher
Polyester prices remained extremely stable today in China
amid weakened market activity. Paraxylene contracts (ACP)
for January were settled US$30 above the previous month,
but PTA prices are not expected rising, however. MEG slightly
declined this week in Asia. TOP |
Viscose
Prices still rising amid global optimism
Viscose prices are further rising in China, reflecting strong
demand for the fiber worldwide. A new investment in viscose
yarn production in China was announced by Austria's Linz
Textile while a series of financial groups and viscose specialists
are showing strong interest for buying Lenzing, including
Indonesia's RGM (Sateri). TOP
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US
imposes anti-dumping duties on certain PSF from China
The US finally decided imposing anti-dumping duties on certain
PSF imports from China. Duties range from 4.39% to 44.30%
depending on suppliers. With anti-dumping duties on similar
products from Korea and Taiwan being extended for 5 years,
exporters from Thailand, Indonesia and India should be able
developing their sales on the US market. TOP |
China's
Polyester Production would rise 130% until 2010
China's polyester industry will continue rapidly expanding
in the coming years, although at a lower pace than experienced
in the past. Consumption will further rise, allowing to
partly absorb new capacities, as reflected by data that
were released in China. TOP
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Wool
prices closing the year at much higher prices
Wool prices again rose this week in Australia and South
Africa for the last sessions of the year, with prices finally
surging over the past 12 months. More is to come, with a
severe drought negatively affecting qualities and quantities
in Australia. TOP
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Latest
Regulations regarding Textile Trade
- US Committee for the Implementation of Textile Agreements:
2007 Limits on Imports from Vietnam.
- US International Trade Administration: Commerce Preliminarily
Finds Unfair Dumping of Certain Polyester Staple Fiber from
the People’s Republic of China.
- Hong Kong Trade and Industry Department: List of Enterprises
Winning the First Round of Consultative Bids for Quantitative
Limits for Textile Exports to the European Union and the
United States in 2007.
- US International Trade Administration: Vietnam Import
Monitoring Program.
- US Customs: 2007 Wool TRQ Opening.
- Hong Kong's Trade and Industry Department: Application
for Residual Quantitative Limits for Textile Exports.
- Vietnam Ministry of Trade: Announcement on Removal of
Import plan approval and import tariff exemption for FDI
enterprises.
- US International Trade Administration: Anti-dumping investigation
on PSF from China. Tariff Rate Quotas (TRQs) on wool fabrics.
Monitoring of apparel imports from Vietnam.
- European Union: 2007 textile quotas. GSP rules of origin
for Cambodia and Nepal. Anti-dumping duties on PSF from
Saudi Arabia.
- US CITA: 2007 Quota on products from Ukraine (435).
- Hong Kong's Trade and Industry Department: China's allocation
of residual quotas.
- US Customs and Border Protection (CPB): 2007 Nafta TPLs
(Canada and Mexico).
- European Union: Amending Regulation imposing a definitive
countervailing duty on imports of cotton-type bed linen
originating in India. TOP |
Polyester
filament starts declining in China
Polyester prices are showing additional signs of decline
in China, amid very weak demand from downward processors
in the textile industry. Filament prices began decreasing
on Monday and staple fibers may rapidly follow. World's
first market for PTA futures was Friday launched in Zhengzhou
with prices Monday soaring more than 350 yuan in the second
session. TOP
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Nylon
prices supported by Caprolactam and Benzene increases
Nylon prices were mostly unchanged in the past four weeks
in China, although intermediate prices further rose at the
same time. Caprolactam prices were boosted by a lack of
supply in China and on the international market. Benzene
is surging in addition, further boosting CPL prices, as
reflected by our series of tables and graphs. TOP
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Stronger
PTA demand in China
Polyester prices today remained stable in China. Although
demand was again very weak, stronger markets for polyester
intermediates supported prices. PTA is no more declining,
as a result of improved demand from polyester producers.
Polyester prices are still expected declining in the short
term. TOP
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Denim
recession still depressing prices in India
Far from ending, recession continues on India's denim market
with prices reaching very low levels. Weavers try now shifting
to other products, such as grey fabrics, or making more
sophisticated denim in order to compete with rising imports
from Turkey or Japan, our India Correspondent reports. TOP
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PSF
slightly down in China
Polyester staple fibers were slightly down today in China,
a possible sign that demand and prices may further slow
down before the end of the year. Intermediate prices were
slightly up at the same time, however, supported by higher
Paraxylene and ethylene prices. TOP
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US
Congress passes trade benefits for Colombia, Peru, Haiti
and Africa
The US Congress passed a last-minute trade package on Thursday
and Friday, including extension of the Andean trade preference
and AGOA's third country fabric provision. Haiti is being
granted generous rules of origin allowing 50% of value from
Asian origin. TOP |
Pakistan
tries to revamp falling exports
Pakistan's textile and clothing exports are sharply falling
as a result of a series of issues, from high interest rates
and power costs to lack of quality, R/D and training, our
Correspondent in Pakistan reports. In order to restore exports,
the government is preparing a new textile package that will
be announced before Heimtextil takes place by early January
in Frankfurt. TOP
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Spun
Yarn Prices in China
Spun yarn prices did not really move in the past two weeks
in China, except a rise in polyester yarns on certain markets.
Stability in cotton, polyester and viscose prices helped
spinners in resisting any decline. Margins are extremely
good as far as cotton is used, following the recent fall
in cotton prices. Viscose is maintained at a high level
while polyester could further decline. TOP |
Currency
trends favoring Italian Wool processors
Wool prices again rose in US$ terms this week while declining
in euro terms. Currency trends are clearly in favor of Italian
buyers to the detriment of Chinese competitors. Prices less
strongly rose in euro terms in the past year, compared with
wool prices paid in US$. TOP
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UCO/Raymond
Defensive Strategy on Global Denim Market
A first global player in the denim industry, the joint-venture
formed by Belgian UCO and Indian Raymond has no aggressive
intentions, however. The just launched company with 80 million
meters tries more protecting its profits on an increasingly
difficult world denim market. TOP
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Spandex
Market back on its feet
The spandex market is now back on its feet after prices
were stabilized at much higher levels. Spandex producers
are progressively returning to profits in China, where demand
remains relatively strong. World's second largest producer,
Hyosung is also reporting a turnaround this year, after
global spandex production was significantly reduced. TOP
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Cotton
Prices stabilized by lower demand on the international market
Cotton prices were more stable yesterday in New York and
today in the Far East, after rising for two consecutive
days. Prices are however remaining at a relatively high
level on the international market, depressing demand from
spinners. Prices began bottoming out on India's domestic
market while further rising in Pakistan. A steady increase
is still reported in China. TOP |
US
Apparel Imports from China surging in last quarter
US apparel imports from China are now surging, if compared
with the similar period last year. This is not surprising,
as embargoes had been placed in the last months of 2005.
Latest data however confirm that shipments will seriously
rise this year in volume terms, even more soaring in value
terms. The low level in quota fill rates in 2006 could also
have pushed up US demand for 2007, with no risk in sight
of new US embargoes in the coming year. TOP |
US
Imports from Vietnam still threatened by embargoes
A series of US embargoes may still be imposed on apparel
imports from Vietnam until next February, although the low-cost
country will officially join the WTO on 28 December with
textile quotas being eliminated at the same time. No less
than seven categories are under threat, according to our
estimates based on entries in 20 days to 28 November, and
listed in our quota report. TOP
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Crude
Oil rebound not affecting Polyester Chain
Crude oil prices further increased in the past days but
this rebound does not affect price levels in the polyester
chain. Although MX prices largely increased in the past
week, downstream materials such as PX, PTA and MEG more
modestly rose. Demand for polyester is slowing down in China,
in addition. TOP
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Textile
Ministry expects to achieve target of 100,000 bales clean
cotton
Ministry of Textile expects to achieve the target of 100,000
bales of clean cotton by the end of the season under its
Clean Cotton Programme. 25,300 clean cotton bales of grade-2
or higher have been produced by now; the ministry sources
said. TOP
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APTPMA
feels prolonged gas suspension affects textile industry
The All Pakistan Textile Processing Mills Association (APTPMA)
feels that the textile processing industry may be adversely
affected with the prolonged gas suspension without intimation.
TOP
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Import
of textile machinery declines
The import of textile machinery declined by 36.10 percent
during July-November 2006 due to prevalent crisis in the
textile sector; Analysts said here on December 28. TOP
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Syed
Mustafa asks to finalize garment city master plan
The Mayor of Karachi, Syed Mustafa Kamal has directed the
officials to finalize master plan of garment city, making
it comprehensive document to incorporate all details to
cater the needs of next 50 years. TOP
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Textile
sector pushed deeper into quagmire
The textile sector feels that it has been pushed deeper
into quagmire as the system is still too cumbersome despite
the reforms to implement liberalization and deregulation
with the objective of streamlining and simplifying systems
by removing bureaucratic snags. TOP
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Govt
makes strategy to support textile sector
The government is making a strategy to increase efficiency
and cost-effectiveness and to provide the requisite support
to textile sector of the country without compromising its
inherent strength which had withstood the test of time and
fluctuations in the international environment. TOP
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Comprehensive
strategy for textile sector to be prepared
The study and survey of textile industries in the country
should be completed soon so that a comprehensive strategy
and plan for the development of this sector can be prepared
at the earliest; the Federal Minister for Textile Industry,
Mushtaq Ali Cheema said. TOP
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Werner
Intl. concludes project on textile industry
The international consultancy, Werner International which
was assigned the $200,000 project a couple of months ago
by the federal government has completed benchmarking of
spinning and weaving. TOP
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Govt
to refund pending claims of exporters of knitwear, hosiery
and textiles
The government of Pakistan will refund all the pending claims
of the exporters of knitwear, hosiery and textiles. Claims
of exporters would be settled and paid by Dec 2006 and Jan
2007; member sales tax, CBR Musarrat Jabeen assured. TOP |
Increase
in input costs reduces competitiveness of textiles
Increases in input costs hit competitiveness of Pakistan's
textile and cloth. Increases in input costs during 2005-06
may have reduced Pakistan's textile and cloth (T&C)
competitiveness, International Monetary Fund (IMF) said
in its recent report. TOP
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Prime
Minister’s decision disappoints textile producers
and exporters
The decision by Prime Minister Shaukat Aziz to form yet
another committee to examine the report prepared by the
National Textile Strategy Committee (NTSC) has disappointed
most textile producers and exporters; APTMA chairman Shafqat
Elahi said. TOP |
R&D
support of 6 percent to textile units at EPZs allowed
Research and development support of 6 percent for all textile
units operating at Export Processing Zones (EPZs) has been
allowed by the State Bank of Pakistan. TOP
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PSC
approves new cotton seed varieties
The Punjab Seed Council (PSC) has approved three new cotton
seed varieties with better yield potential to bring revolution
in agro economy, Punjab minister for agriculture. TOP
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Textile
competitiveness declines over increased input cost
The recent report of International Monetary Fund (IMF) stated
that increase in input costs during 2005-06 might have reduced
Pakistan's textile and cloth (T&C) competitiveness.
TOP
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Govt.
reviews national textile strategy
The government is in process of reviewing national textile
strategy to make textile industry more viable, competitive
and sustainable in the modern scenario. TOP
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Cotton
prices remain stable in domestic market
Cotton prices remained stable in the domestic market during
last week; market sources said here on December 04. TOP |
Pak
accuses India of unfair trade methods for textile exports
Pakistan has accused India of using unfair trade methods
for marginalizing its textile exports and has asked the
World Bank to pressurize New Delhi to refrain from indulging
in such practices; an official said. TOP
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Import
of textile machinery declines
The import of textile machinery declined by 36.10 percent
during July-November 2006 due to prevalent crisis in the
textile sector; Analysts said here on December 28. Pakistan
textile industry is in a crisis, facing severe problems
including high costs of doing business, which has a serious
impact on the growth of the sector. During the current fiscal
year textile industrialists have stopped new investment
for expansion of business in the wake of uncertain situation,
particularly in exports, said an exporter. During the July-November
2006 period, Pakistan's textile machinery imports stood
at $224.386 million against $351.142 million during the
same period of last fiscal year (2005-06), showing a decrease
of $132.756 million.
Imports of textile machinery during November 2006 also indicate
a decline of 36.36 percent, from November 2005. During November
2006 textile machinery worth $47.029 million was imported
against $78.80 million in the corresponding month of last
fiscal year, depicting decrease of $31.773 million. New
investment in the textile sector had also plunged and the
textile industrialists were concentrating on modifying their
existing projects to meet the demands of international buyers.
A leading exporter of bed wear criticized government policies
and said that export culture in Pakistan lacks badly to
increase investment in the country.
Industrialists held various government agencies, including
customs department, responsible for creating hurdles, which
have badly hit the new investments in the industry. During
past five years textile industrialists had imported textile
machinery worth of $4 billion. Another factor, which brought
about decline in the textile machinery imports, was the
increasing interest rates on loans. TOP
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