Polyester
Prices may rise in the short term
Polyester prices could be raised in the coming
days after crude oil last week rebounded in New York,
now heading towards US$62 per barrel. In addition to a
possible rise in raw material costs, polyester prices
may be stimulated by a rebound in demand from China's
textile industry that did not accumulate stocks ahead
of new year holidays. TOP
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Sharp
Rebound in Cotton Prices
Cotton Prices are finally rebounding in line with stronger
demand for US cotton on New York's market. Orders from
China surged before New Year holidays and after prices
fell to attractive levels. The recent jump in Indian prices
also boosted demand for US origins. Prices could continue
increasing in the post-holiday period. TOP
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US
Imports of Blue Denim Fabrics in 2006
US blue denim fabric imports continued dramatically falling
in 2006 with buyers now focusing on low-cost denim from
China on the one side and sophisticated products from
Italy and Japan on the other side. Mexican denim is rapidly
disappearing on the US market and will be increasingly
shipped to apparel producers in Central America in the
future. TOP
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US
Apparel Imports from Vietnam in January 2007
US apparel imports from Vietnam did not surge in the first
month without quotas, as indicated by our tables hereafter.
Most shipments arriving at US ports were still subject
to limits, actually. In addition, the US monitoring program
for possibly imposing anti-dumping duties may depress
US imports from Vietnam during the current year. Other
Asian countries may benefit from rising unpredictability.
TOP
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Viscose
Filament Prices are sharply rising
Viscose filament prices started more rapidly increasing
in the past weeks in China with a general rise of 1,000
yuan per ton (20 cents per kilo). Staple fibers continued
also climbing, although less significantly. Viscose prices
are boosted by higher raw material costs on the global
market and stronger demand, including from non-textile
sectors. The rising cost for textile viscose processors
could limit demand from spinners in the coming period,
however. TOP
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US
Apparel Imports from Bangladesh in 2006
Bangladesh continued making strong gains on the US apparel
market last year with a double digit growth in shipments,
as indicated by our series of statistical tables. The
low-cost country indirectly benefited from US quotas on
apparel from China and Vietnam, with US orders focusing
on most sensitive cotton categories. Rising political
uncertainties in Bangladesh could negatively affect exports,
however, as US limits are removed on apparel from Vietnam.
TOP
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China's
Cotton Bed Sheet Exports in 2004-2006
China's cotton bed sheet exports to the United
States continued strongly increasing in 2006, now accounting
for more than 60% of total sales to foreign countries.
By contrast, exports to the European Union were very low
after a quota was set by Brussels in 2005. Averaged prices
generally declined in the last year, as reflected by our
statistical tables. TOP
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US-China
Quota Fill Rates surging by mid-February
US Imports from China surged in January, from the same
period a year ago. Shipments continued sharply increasing
in the first part of February wirth quota fill rates reaching
alarming levels in most sensitive categories, as reflected
by our series of tables. Products have been shipped in
advance of new year holidays, partly explaining the surge
in January-February imports. TOP
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Latest
Regulations regarding Textile Trade
-
US International Trade Administration (ITA): Postponing
Antidumping Duty Investigation on Certain Polyester Staple
Fiber from China.
- US
International Trade Commission (USITC): Effect of Modifications
to DR-CAFTA Rules of Origin and Tariffs for Certain Apparel
Goods of Costa Rica and the Dominican Republic.
- Hong
Kong Trade and Industry Department: Textiles Trader Registration
Scheme
New Fee Structure.
- US
International Trade Commission (USITC): Effects Of Additional
Preferential Treatment For Apparel From Sub-Saharan African,
Caribbean, And Andean Countries; Effects Of New Trade
Benefits For Haiti For Textile And Apparel Trade.
-
European Union: Commission Directive announcing the use
of textile fibre elastolefin for labelling purpose.
-
Hong Kong Trade and Industry Department: Notice Concerning
Adjustments to Certain Unit of Measurement in the License
Issuing System of The Provisional Textile Export Licenses
(2006 Version).
-
US Committee for the Implementation of Textile Agreements
(CITA): Amendment of Limitation of Duty- and Quota-Free
Imports of Apparel Articles Assembled in Beneficiary Sub-Saharan
African Countries from Third-Country Fabric.
-
Hong Kong Trade and Industry Department: EU Quota Adjustment
for Imports of Certain Chinese Textiles and Clothing Products.
-
US Committee for the Implementation of Textile Agreements
(CITA): Determination under the CAFTA Short Supply Provision:
Certain two-way stretch woven fabric of polyester, rayon,
and elastomeric yarns.
-
US International Trade Administration (ITA): Implementation
of Grants to Manufacturers of Certain Worsted Wool Fabrics.
-
US International Trade Commission (USITC): Certain Polyester
Staple Fiber from China: Revised schedule for the subject
investigation.
- Hong
Kong Trade and Industry Department: The Mainland of China
- Notice Concerning the Extension of the Deadline for
Retrospective Issuance of 2006 Provisional Textile Export
Licenses.
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Wool
Prices stabilized in US$ terms
Wool prices this week declined in local currency terms
in Australia, South Africa and New Zealand. A decrease
of the US dollar resulted in a stability in prices, nevertheless.
The Australian market should be supported by an expected
supply squeeze in the coming months. TOP
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Spandex
Price maintained at a high level in China
Spandex prices stayed unchanged in the past three weeks
after booming about 40% in January. Demand nearly vanished
ahead of new year holidays. The surge in prices was triggered
by a lack of supply on the domestic market after spandex
exports significantly increased. Profits of spandex producers
are also rocketing. TOP
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Pakistan
imposes Anti-Dumping Duties on PSF from Indonesia, Thailand
and Korea
Pakistan decided imposing anti-dumping duties
on Polyester Staple Fibers (PSF) from Indonesia, Thailand
and South Korea. Additional duties are not extremely high
but may result in higher costs for Pakistani spinners.
The sanction only covers fibers of 2 deniers or less.
TOP
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Nylon
Prices stabilized in China
Nylon prices stayed stable in the past weeks
in China, after raw material costs started to decline.
Thanks to a strong demand, prices of polyamide fibers
should not decrease in the near term, however. China's
imports of nylon filaments were significantly stronger
in the past year, contributing to the rise in prices,
as indicated by our series of tables. TOP
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Spun
Yarn Prices in China
Spun yarn prices were mostly unchanged in the
past two weeks in China. Viscose fibers continued however
rising with viscose yarn prices also increasing, as a
result. Demand for polyester yarns was stimulated by the
sharp rebound in crude oil prices in New York. Prices
are not expected rising before the end of new year holidays
in the last days of February. TOP
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Pakistan's
Textile Exports began recovering
Pakistan's Textile and Clothing exports began
recovering in December, according to latest official data.
This is mostly due to stronger clothing exports while
shipments from other sectors were mostly stable. New incentives
may be soon offered to textile exporters while consultancy
firm Werner International is working on a new strategy
for boosting the country's export revenues. TOP
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PX
volatility explained by China's imports
Paraxylene prices are again increasing in Asia
after crude oil steadily rose in the past week. The volatility
in PX prices significantly affected the level in polyester
prices in the past year and is mainly due to the level
in China's PX imports. No less than 40% of Chinese annual
consumption is coming from foreign countries. TOP
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Crude
Oil Prices boosting Paraxylene
Crude oil prices continued rising in New York,
finally stimulating paraxylene prices. Prices of polyester
intermediates are slightly increasing in China as a result.
Polyester prices are no more moving, ahead of new year
holidays starting at the end of next week. TOP
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Denim
Jeans Imports on EU's Markets
EU's imports of denim trousers were negatively
affected by quotas that were reimposed on shipments from
China. In the three first quarters of last year, prices
surged in Italy while imports were falling at the same
time. The German market remains strong on men's segment
while UK keeps the leading position on the women's market,
as indicated by our series of tables detailing imports
of EU's member countries. TOP
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US
Imports from China slowed down in second part of January
US imports from China less strongly rose in the
two last weeks of January, compared with similar periods
in November, December and first part of January, our compiled
data indicate. A new rush may however be observed in the
current month, as Chinese exporters preferred shipping
in January products that are usually sent in February
but could have faced slower traffic during new year holidays.
TOP
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Yarn
Prices on the International Market
Cotton yarn prices sharply declined on the international
market. Products made in India fell 5 to 15 cents per
kilo on the Italian market, reflecting lower cotton prices
and slowing down demand. Spun viscose yarns resisted at
the same time, thanks to higher viscose fiber prices and
a stronger currency in India. TOP
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NChina
rapidly using EU quotas in January
China is rapidly filling its European quotas
this year. No less than 20% of export visas are already
issued by the end of January in category 26 (dresses),
for example. Quota prices are consecutively rising but
the growth rate in deliveries of export licences should
fall in February with the 1-week new year holidays. TOP
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China's
PSF Exports Shifting from Developed To Developing Countries
China's exports of polyester staple fibers continued
surging in 2006, thanks to a new increase in sales to
the United States. With EU and US market now protected
by anti-dumping duties, however, Chinese exporters are
increasingly attacking low-cost countries with sales to
Pakistan, India or Bangladesh rapidly rising, as indicated
by our series of tables. TOP
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MEG
Prices continue rising in Asia
PTA last week declined in Asia while MEG was
again increasing. MEGlobal nominated its March ACP up
US $10 as a clear sign that glycol will not fall in the
short term. This could limit any decrease in polyester
prices after Chinese new year holidays. TOP
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Yarn
manufacturing may stop because of China dumping
Pakistan’s filament yarn manufacturing
units are fighting for survival. Of the 20 units 16 are
already closed down and 4 are running only partially functional.
TOP
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Textile
exports decline, RMG increase by 5 percent
Although there was a good increase in the export
of readymade garments by almost 5% compared to the last
year there was a decline observed in the export of textile-related
products. TOP
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Textile
exports drop by 22 percent in January
The export of textile products dropped by 22 percent in
the month of January compared to the preceding month of
December, as well as by one percent against the corresponding
month of previous year; the latest statistics of foreign
trade revealed here on Feb 23. TOP
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The
textile industry in dire straits due to lack of gas supply
The textile industry, especially the export-oriented
units, is in dire straits due to the sudden disconnection
of gas supply; Chairman Adil Mahmood, FPCCI Zonal Standing
Committee on Ancillary Textile Industry said on February
18. TOP
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Textile
trade bodies urge Govt to reconsider textile policy
Textile trade bodies have urged the government
to reconsider its textile policy and bring meaningful
changes to ensure competitiveness of the whole sector
from cotton production to value addition; market sources
said. TOP
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Govt
proposes to subsidize utility bills for textile industry
The Government of Pakistan proposes to subsidize
40 percent of the utility bills, for the textile industry
in order to catch up with the export competition in the
international markets; sources said here on February 16.
TOP
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Govt
mulling over importing Indian lint cotton through Wagha
Border
The Pakistan government is mulling over importing
bulk lint cotton from India through the Wagha Border;
a senior Pakistan government official said here on Feb
16.TOP
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Tax
relief planned for ailing textile industry
The country is considering tax breaks for its
textile makers, who are struggling due to stiff competition
in an attempt to cut costs for the industry, textile industries
minister.TOP
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West
Point Home establishes integrated textile mill in Lahore
West Point Home Inc, a premier textile company
of US, has established integrated textile mill in Lahore
on a 100 acres plot; sources said. TOP
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PCSI
establishes modern cotton fiber test laboratories
The four modern and state-of-the-art cotton fiber
testing laboratories has been established by the Pakistan
Cotton Standard Institute (PCSI). TOP
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Govt
makes efforts to make textile sector competitive
The government is making concerted efforts to
make the textile sector more vibrant and competitive to
the international market; Minister for Textiles, Mushtaq
Ahmed Cheema informed the House. TOP
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Textile
competitiveness marred by cotton contamination
The spinners bear an additional burden of Rs153 billion
annually to clean contaminated cotton. Such unnecessary
costs are one of the main factors which is eroding the
competitiveness of textiles in Pakistan; spinning experts
informed. TOP
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Readymade
garments exports target difficult to achieve
Pakistan's readymade garments exports target for the current
fiscal year (2006-07) is in jeopardy mainly due to the
tough competition in international market and high cost
of production; trade sources said.
TOP
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Govt
taking measures to bridge gap between productivity and
global trends
Government is taking measures to bridge the gap
between existing productivity and emerging global trends
and preparing an integrated package for the textile sector;
Minister for Textile Industry Mushtaq Ali Cheema has said.
TOP
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Govt
designs strategy to achieve 20.70 million cotton bales
target by 2015
The federal government has planned a strategy
to take different measures to achieve the set target of
the cotton production of 20.70 million bales by 2015;
official sources said. TOP
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American
companies exploring investment opportunities in textile
business
A few American companies are exploring investment
opportunities in Pakistani textile business through acquisition
and joint ventures. TOP
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| Premium
non-payment, a hurdle in cotton production
The Pakistan Cotton Ginners Association (PCGA)
sees the non-payment of premium on contamination-free commodity,
the main hurdle in producing clean cotton in the country.
TOP
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Govt
commissions Gherzi to assess impact and quantum for running
the business
The government is going to commission a well-known
Swiss consultant, Gherzi to assess the impact and quantum
of the financial support being extended by India, Bangladesh
and China to their textile exporters by way of cash rebate,
subsidies, cut in utilities cost and concessions in interest
rates on bank loans for investment as well as for running
the business. TOP
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| Indian
cotton to be imported into Pakistan in near future
In the near future Indian cotton would largely be imported
into Pakistan in view of advantage of suitability of cotton,
low shipping cost, shorter shipment period and competitive
price; a market analyst S A Aziz Shah said here on February
05. TOP
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