New
decline on International Cotton Market
Cotton prices are again falling on the international market
after New York yesterday declined. US exports sales are
again below expectations and China's quotas are still impatiently
waited in New York. Adding to US worries, the WTO has set
a new panel to discuss whether Washington eliminated enough
cotton subsidies. TOP
|
New
fall on China's Polyester Market
All prices in the polyester chain are now busy dropping,
with polyester staple fibers in very sharp decline in China.
Paraxylene further fell yesterday, as a clear sign that
the move to lower prices is not ending. China's 1-week holidays
are now starting and prices will not be quoted during this
period. TOP |
Paraxylene
prices sharply dropping in Asia
Polyester prices could further decrease in the short run,
after paraxylene prices yesterday plunged in Asia. MEG continued
today declining while PTA stayed unchanged. Crude oil prices
are slightly recovering, as OPEC could try limiting production
in order to support prices around US$60. TOP
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US
Imports of Cotton Denim Fabrics in January-July 2006
The US Import Market for cotton denim fabrics continued
falling in the first part of the year. Imports from China
however surged, with Chinese denim taking the lead in volume
terms while Mexico retreated to a very low level. Turkey
is facing some difficulties, in line with a series of other
supplying countries. TOP |
Prices
of Korean Polyester Fabrics at 16-Year high
Korean exports of polyester filament fabrics further decreased
in the first eight months of the year. Boosted by higher
filament prices, export prices surged to a 16-year high
this summer, accelerating the fall in sales to foreign countries.
Historical data show a progressive decline of shipments
from their record level 16 years ago. TOP
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PTA
and MEG are sharply falling in Asia
After resisting in the past two weeks, polyester feedstock
prices today plunged to much lower levels in Asia. Panic
selling ahead of October holidays is pushing down prices
in China. Polyester fiber prices are following MEG and PTA,
not surprisingly and could reach lower levels in the coming
two days. TOP |
Yarn
Prices on the International Market
Cotton yarn prices continued this week rising on the international
export market. Availability of viscose is not guaranteed
in India, pushing up viscose yarn prices. PSF prices are
declining with a similar effect for polyester blends. TOP
|
Wool
prices falling in Australia and New Zealand, rising in South
Africa
Wool prices strongly declined this week in Australia, although
the domestic currency fell against the US dollar. Prices
also decreased in New Zealand while rising in South Africa.
Australian prices are expected further falling in the coming
weeks. TOP |
Latest
Regulations regarding Textile Trade
-
US Customs: Extension of Quota Preprocessing Program.
AGOA and ATPDEA 2007 Limits.
-
US
CITA: Adjustment of Import Limits (Vietnam). AGOA and
ATPDEA Limits. Safeguard for Imports from Bahrain. Determination
under CAFTA-DR: 2-way stretch woven fabrics.
-
Hong Kong Department of Trade: China's First Round Allocation
of 2007 US/EU Quotas.
-
European Union. Protocol with Tunisia: Euro-Mediterranean
Agreement, concept of originating products and methods
of administrative cooperation.
-
Hong Kong/China: Notice Concerning the First Invitation
for Consultative Bids for Provisional Quantitative Limits
for Textile Exports to the European Union and the United
States in 2007.
-
Chinese Ministry of Commerce: Administrative Measures
on Textile Exports (Provisional).
-
US Customs: Results of China Stage 8 Opening Category
620. 2007 CBTPA Quantitative Limits.
-
Chinese Ministry of Commerce: Circular of the State
Administration of Taxation of the People's Republic
of China, on Several Issues of Tax-refund (Exemption)
for Export Commodities.
-
World Trade Organization: Request from Brazil for the
establishment of a panel over US cotton subsidies
-
Chinese Ministry of Commerce: Administrative Implementation
of Quotas on exports to South Africa.
-
US International Trade Administration (ITA): Applications
for Tariff Rate Quotas (TRQ) on worsted wool imports.
-
Chinese Ministry of Commerce: Announcement of intention
to penalize companies failing to pay deposit for EU/US
quotas. TOP
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Generous
Rules of Origin for Africa and Haiti postponed in US Congress
A proposed emergency trade law introduced recently to US
Congress appears to have been suspended. The bill which
would have extended and amended rules of origin for sub-Sahara
African countries came under pressure from influential textile
lobbyists. The groups were also concerned over a controversial
addition that would allow Haiti to use fabric and yarn from
countries in Asia. TOP |
Viscose
Prices sharply rebounding in China
Viscose prices sharply rebounded in the past month in China,
as a result of higher wood and cotton pulp prices. The surge
in polyester prices also boosted demand for viscose that
is usually low in this period of the year. Viscose prices
are increasing although China is adding new capacities this
year. India's Aditya meanwhile bought a Chinese producer,
now making Viscose in Indonesia, Thailand and China, in
addition to India. TOP
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Crude
oil prices plunged below US$60
Crude oil prices further plunged yesterday in New York,
now losing 22 per cent from last July. This sharpest decline
in 15 years should not be imitated by polyester prices,
however, as a constant lack of paraxylene in Asia could
maintain PTA and therefore polyester prices at a high level.
TOP
|
Bangladesh
successful in post-quota period, WTO reports
The WTO just praised Bangladesh for its success in the post-quota
period, very far from the expected disaster. Liberal policies
mixed with sectoral support helped the domestic industry
in further developing exports. Risks remain, however, warns
the WTO while the country does not take a full advantage
of its duty-free access on EU's market. TOP |
US-Vietnam
Quota Fill Rates
As several categories continued with strong quota use in
the past four weeks, producers in Vietnam look forward to
the eventual removal of restrictions. Quotas will be removed
upon WTO accession, probably before the end of the year,
and with or without the PNTR bill being approved by US Congress.
Quotas' phasing-out would not apply to shipments already
in transit, however. TOP
|
EU-China
Quota Fill Rates
EU pullover imports from China have continued to get stronger
over the past few months and annual quota use, together
with women's shirts, has gone past 50 per cent. Although
not yet heading for early exhaustion, quota use at around
12 per cent was again strong in the past four weeks while
indications from China show stronger growth for export licences.
Also, Flax yarns could be a contender for early quota exhaustion.
TOP
|
Korea
to impose anti-dumping duties on Textured Yarns
Polyester prices did not further decline today in China.
Polyester intermediates were even higher, as some polyester
makers are accumulating stocks ahead of looming holidays.
Korea announced that it will slap anti-dumping duties on
textured polyester yarns from China, Taiwan and Malaysia.
TOP
|
Nylon
prices could stop rising, as Caprolactam starts declining
Nylon prices further increased in the past weeks in line
with higher raw material costs. With caprolactam prices
now declining in Asia, however, nylon could be subject to
a similar downward trend. The recent fall in oil prices
may partly explain the decrease in CPL prices, in addition
to losses of nylon chip producers. TOP
|
US
Congress moves to save Peru, Columbia duty-free access
The threatened duty-free access for Peru and Colombia could
be saved if the US Congress supports an emergency trade
bill introduced last week. While both countries still wait
for Washington to implement free trade agreements that were
recently concluded, the existing preferential treatment
under ATPDEA program is set to expire at the end of the
year causing panic among exporters and seriously worrying
US importers. TOP
|
Vietnam
will join WTO with or without US PNTR
Vietnam's membership this year to the World Trade Organisation
will still go ahead even if US Congress does not vote on
Permanent Normal Trade Relations. However, US sourcing of
textiles could be affected should PNTR not be granted, the
US chamber of Commerce has warned. The business community
also fears the US could lose out on market access while
textile lobbyists continue to push for safeguard measures.
TOP
|
PTA
lost US$110 over the week in Asia
Polyester prices are again falling in China, as a result
of lower demand and sliding raw material costs. PTA lost
no less than US$110 over the week in Asia, as paraxylene
prices were declining nearly US$100. TOP
|
Oil
price steepest decline in 16 years
Oil prices are dramatically falling, a slide not seen in
16 years. Crude futures are now back to a six-month low,
after declining 20% in more than a month. Such a slide is
putting pressure on all prices in the polyester pipeline.
TOP
|
New
York trading remains flat despite stronger US sales data
New York and physical cotton prices have remained flat despite
encouraging data contained in the latest US weekly cotton
sales report. The US Department of Agriculture also confirmed
sales to China were the highest since 29 June. But trading
yesterday remained slow with light amounts of business reported.
There was however very active business in Pakistan yesterday
as mills fear prices could shortly rise on shorter supplies.
TOP
|
Asian
Countries increasingly dominating Apparel Market - ADB Report
The strong performance of developing Asian suppliers of
clothing to key markets will continue, a report from the
Asian Development Bank (ADB) confirms. The document also
suggests countries with preferential access will remain
struggling despite China being restricted by quotas. But
the ADB urges that now is the time for Asian countries to
make necessary changes to further improve competitiveness.
TOP
|
New
York sharply rising after USDA lowers production
New York cotton futures sharply rebounded yesterday, in
line with an official report slightly lowering estimates
for global output this season and raising consumption data.
The correction was expected after US futures sharply fell
in the past two weeks. Physical prices in Asia today followed
New York's example, rising from 0.50 up to 1.15 cent per
pound. TOP |
Spandex
Prices surged 25% in two months
Spandex prices continued surging in the past month in China
with a 25% jump reported since early July. A sharp increase
in feedstock prices THF and PTMEG is behind the current
rebound in prices while MDI prices remained unchanged for
months, however. Spandex consumption should reach a seasonal
high in the coming weeks, further boosting prices. TOP
|
New
Crop putting pressure on Cotton Prices
Cotton prices could be negatively affected by higher production
in India and China this season. New York is still waiting
for new estimates from the US Department of Agriculture
(USDA), due next Tuesday. Futures are declining in the meantime,
although a severe drought may have significantly reduced
US output this year. Domestic prices are down in India and
Pakistan, after first arrivals from the new crop were reported.
TOP
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South
Africa slaps Clothing Quotas on China imports
The South African government last week announced it is to
introduce restrictions on clothing and textile imports from
China. The two-year quotas covering 31 categories will be
effective by the end of September. However, the move has
been fiercely opposed by retailers saying that prices could
go up 25 per cent. Stocks could also plummet in the run-up
to Christmas as South Africa is highly dependant on Chinese
imports. TOP
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China's
MEG demand to support prices for years
Polyester prices did not change today in China, although
raw material costs further declined. MEG lost US$10 on Asia's
market as stocks are reaching 1 month at Chinese polyester
plants. MEG prices should be supported by China's surging
demand in the coming years, however, as reflected by our
long-term data. TOP
|
PTA
in tight supply until year's end
Prices of polyester staple fibers began today decreasing
in China while filament yarns continued falling. With raw
material costs and oil prices again sliding, there is no
sign of a possible rebound in the short term. Tight supply
on China's PTA market could support polyester prices until
the end of the year, however. TOP
|
EU
Clothing Import Prices: China vs Turkey
European Union quotas have resulted in predictably lower
volumes imported from China in the first half of 2006. Turkey,
seeking to capitalise on the restrictions, has seen some
gains made in certain important HS chapters but on the whole
is still struggling. And with China's higher unit prices
suggesting a move away from low-cost production, this could
prove another problem for Turkish producers. TOP
|
Polyester
Filament Prices began declining in China
Polyester filament prices began declining in China, in line
with lower raw material costs and a fall in demand from
the textile industry. PSF and chip producers are still resisting
any decrease, since benefiting from stronger demand. Paraxylene
and ethylene are however expected falling in the short term,
leaving room for lower polyester feedstock prices. Leading
polyester producers in the US and in Europe just announced
a sharp rise in their prices, by contrast. TOP
|
China's
Woven Cotton Shirt Exports in First Half
Exports of China's woven cotton shirts continued sharply
rising in the first half, mainly due to an absence of quotas
on the largest part of shipments to the United States and
Europe. Prices significantly rose, reflecting a shift of
Chinese exporters to higher-valued products. TOP
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APTMA
stresses to work for making textile industry competitive
All Pakistan Textile Mills Association (APTMA) stressed
to work for making the textile industry competitive. The
newly elected Chairman of All Pakistan Textile Mills Association
(APTMA) Punjab Zone Samir Saigol has vowed here on September
28 to do so. TOP
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Cotton
Yarn Export Prices in Pakistan
Cotton yarn prices clearly rebounded in August and September
on the international market. Prices of Pakistani yarns had
previously declined in July, as reflected by our data below
for 100% cotton and polyester-cotton (carded and combed
yarns). Higher cotton prices and firm demand in August are
behind the recent increase in prices but buyers are now
more reluctant in ordering at higher prices. TOP
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Pakistan
faces a severe textile crisis
Pakistan could now be confronted with a severe textile crisis
after exports fell 7.80 per cent in US$ terms in July. Yarn
exports continue surging, but sales of apparel, bed linen
and cotton fabrics are declining, in sharp contrast with
the boom experienced in the first sixteen months without
quotas. Rising energy and financial costs would be behind
the current difficulties, textile associations said. TOP
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Govt
to approve Rs 9 bn incentive to dyed fabrics exporters
The government is likely to approve a Rs 9 billion incentive
package in the shape of Research and Development (R&D)
support to all the manufacturers-cum-exporters of dyed or
printed fabrics and dyed or printed home textiles. TOP
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Supply
chain management to be adopted in textiles to reduce cost
of product
The supply chain management is a coordinated set of techniques
to plan and execute all steps in global networking for acquiring
raw materials from vendors, transforming them into finished
goods, and delivering goods and services to customers; Ministry
of Textiles announced. TOP |
Export
prospects of textile industry uncertain
Export prospects of Pakistan’s textile industry in
coming months are uncertain, causing sleepless nights to
the textile barons. TOP
|
PQA
and PTC sign lease agreement for land for textile city
The Port Qasim Authority (PQA) and Pakistan Textile City
signed a lease agreement on September 13 for the land to
be used for the first textile city. TOP
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APTMA
demands level-playing field for textile industry
All Pakistan Textile Mills Association (APTMA) has demanded
a level-playing field for the textile industry in the province
by providing it subsidized energy in view of its location
disadvantage. TOP
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Textile
tycoons unable to compete well internationally
Textile tycoons are hopeless after having been unable to
compete well internationally over the last 15 months following
expiry of textile quota regime. TOP
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SBP
set to refinance loans to textile sector
The State Bank has taken a decision to allow a one-time
opportunity to the textile sector to refinance its outstanding
fixed term loans availed from banks or DFIs for import of
plant and machinery. TOP
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Textile
firms participate in Magic Show in Las Vegas
Forty-two leading companies from textile and leather industry
of the country participated in a US-based trade fair called
MAGIC SHOW which was organized last week in Las Vegas, USA.
TOP |
Pakistani
Cotton Prices are sharply declining
New York yesterday rallied on wrong perception that China
released additional import quotas that could push up demand
for US cotton. Physical prices were partly up today in Asia,
as a result. Domestic prices were unchanged in India while
further falling in Pakistan over rumors of a larger crop
than earlier expected. TOP |
New
302 items imports allowed from India, textile sector could
benefit
Pakistan's Economic Coordination Committee of the cabinet
(ECC), headed by Prime Minister Shaukat Aziz, and has allowed
the import of 302 new items from India including various
categories of machinery and equipment. Steel, iron ore and
different types of chemicals are now on the list of 302
new items Pakistan can import from India.
Economic Adviser to Pakistan's finance ministry Ashfaque
Hasan Khan told on September 27 that the government had
earlier allowed import of 773 tariff lines (items) from
India after consulting the stake holders concerned. Khan
said that textile sector could benefit by importing dyeing
machinery from India. TOP |
