In Qianqing, PC (65/35) 32s yarn prices surged US cents 12 a kg in the last week of July while 45s PC combed yarn prices rose US cents 23 a kg on the week. 32s PV (65/35) were up US cents 8 a kg during the week. In China, blended yarn markets were supported by surge in cotton, polyester and viscose fibre prices over the past few weeks. Both PC and PV yarns were costlier by at least US cents 12-23 a kg on the week. Cotton and VSF prices have increased further that week and will reflect in yarn prices soon.
Viscose yarn price edges up on rising VSF cost
In Jiangsu, 30s spun viscose prices in Xiaoshan were up US cents 9 a kg in the last week of July while 40s compact sirospun yarn prices rose US cents 11 a kg on the week. Spun viscose yarn markets were in the northbound march, seeing higher prices for core spun, ring spun and siro spun yarn driven by rising cost of VSF.
In India, 30s viscose spun yarn prices edged up INR2 a kg (up US cents 2 on the week) in Indore market. Viscose yarn prices were up again that week as spinners were confronted with a fall in margins and difficult to compete on the international market.
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Sutlej Textiles to focus more on home textile segment and exports
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Sutlej Textiles and Industries Ltd (STIL), one of the largest integrated textile manufacturing companies and having strong position in the Indian Textile sector in the manufacturing of value added synthetic, Natural and Blended yarns, all types of spun yarns, processing of fabrics and Home Textile Furnishing reported a good set of first quarter earnings where net profit increased 42.9 percent to Rs 45.1 crore year-on-year (YoY) and revenue grew 19.5 percent to Rs 553.6 crore (YoY).
Branded apparel may get costlier with the implementation of GST
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With the implementation of the goods and services tax (GST) that is expected by April 2017. According to industry and experts, tax incidence on branded apparels and other finished textile products could rise at least three-four percent, assuming textiles come under the merit list of GST with this branded apparel may get costlier.
Bangladeshi delegation to visit Australia to learn more about their cotton
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Bangladesh’s expanding textile manufacturing sector to learn more about Australian cotton capabilities and to identify new suppliers, a Bangladeshi delegation will be visiting Australia this week. Bangladesh the second largest cotton importer in the world and will become a significant cotton export market for Australia.
Australia is the world’s fourth largest exporter and has earned a reputation as a reliable supplier of high-quality cotton which has almost zero contamination, said Tim Martin, Austrade’s New Delhi-based Trade Commissioner and Bangladesh Country Manager.
CCI starts selling balance unsold stock through e auction to SSIs
Related Keywords: CCI to sell balance unsold stock, cotton corporation of India, financial stress, higher input costs for spinning sector, Ministry of textile, msp for long staple cotton, spurt in cotton prices, SSI spinning mills, through online auction
The recent spurt in cotton prices has resulted in higher input costs for the spinning sector in the country leading to some financial stress. In order to ease the situation, Cotton Corporation of India (CCI) has started to sell its stock to SSI spinning mills.
The online auction of the balance unsold stock of the Cotton Corporation of India (CCI) has commenced from August 2 to the Small Scale Industries (SSI) registered with the office of Textile Commissioner and the Government Co-operative mills which are fully dependent on them for their cotton requirements.
Aeoon’s digital textile printing machines to be displayed at KnitShow Tirupur
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KnitShow, one-stop selling and sourcing platform getting bigger with every year since start to be held in Tirupur, from 7 to 9 August 2016 will provide an opportunity for the garment manufacturers and printers in the Manchester of Tamil Nadu to experience live demonstrations.
Grafica, a manufacturer and exporter of screen printing machines joined hands with Aeoon Technologies, Austria, to market their digital textile printing machines in the Indian market by displaying Aeoon's digital textile printing machine at the KnitShow Tirupur.
India’s handloom export plunge to Rs1,500cr, 30% decline in FY2015-16
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The handloom export of India was worth Rs2,240 crore a year ago which has come down to Rs1,500 crore in the fiscal 2015-16, states the annual report of the textile ministry. This is just 65% of the target fixed by the ministry.
Polyester yarn price climbs in Asian markets
In Shengze, offers for 32s polyester yarn were up US cents 14 a kg in the third week of July, and 45s were up US cents 17 a kg on the week. In Qiangqing, offers for 32s weaving rose US cents 12 a kg during the week.
Spun polyester yarn offers were raised in China somewhat with 32s and 45s seeing rise of US cents 14-17 a kg on the week, with the latter seeing moderate sales.
In Fujian, as spun yarn mills joined to pull up offers, together with an increase in PSF price, the selling prices of spun polyester yarns also moved up that week.
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PTA price moves up marginally amid better domestic demand
Asian PTA was assessed up US$2 a ton CFR China and CFR Southeast Asia in the third week of July. In China, offers were maintained at US$620 a ton throughout that week, with buying ideas around US$610 a ton. PTA spot supply was not abundant, and selling ideas on warehouse receipts slipped early that week.
Purified terephthalic acid prices were assessed marginally up on the week in Asian markets amid better domestic demand in China. Hengli will shut its 2.2 million ton a year PTA plant while Hanbang will restart its similar capacity plant soon.
