China's garment industry saw an increase in domestic sales in the first five months this year despite slower expansion in the industry.
From January to May, retail sales of garment enterprises above a designated size amounted to 397.4 billion yuan (about 57.71 billion U.S. dollars), up 2.3 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).
Cotton is in the grips of the bears, and fresh U.S. supply forecasts coming this week will probably keep it there.
Prices tumbled to a three-year low on Tuesday amid the outlook for big supplies at a time when consumption growth is slowing and American exports are hurting. Hedge funds are holding their biggest-ever bet that the declines will continue. Meanwhile, traders and analysts expect that the U.S. Department of Agriculture will raise its outlook for domestic stockpiles, with the hoard forecast to reach a 12-year high.
Cotton is in the grips of the bears, and fresh U.S. supply forecasts coming this week will probably keep it there.
Prices tumbled to a three-year low Tuesday amid the outlook for big supplies at a time when consumption growth is slowing and American exports are hurting. Hedge funds are holding their biggest-ever bet that the declines will continue. Meanwhile, traders and analysts expect that the U.S. Department of Agriculture will raise its outlook for domestic stockpiles, with the hoard forecast to reach a 12-year high.
For the first time in 30 years, Newage Group, a Bangladesh-based garment manufacturer, is sensing an opportunity to sell in the US and it has President Donald Trump’s battle with China to thank.
Prime Minister Adviser on Commerce Abdul Razak Dawood has underlined the significance of investment opportunities in the textile sector for industrial development.
In a meeting with a Chinese delegation of the National Textile and Apparel Council (CNTAC) on Tuesday, he urged the delegation to extend its cooperation in the textile sector. The two sides discussed bilateral trade and investment opportunities.
Cotton futures fell on Tuesday, as mills held off buying following a short-lived rally during the previous session and investor liquidation and a stronger U.S. dollar pressured prices.
The most-active December cotton contract on ICE Futures U.S. edged down 0.82 cent, or 1 percent, to settle at 84.72 cents a lb.
A lack of buying from global textile mills and long liquidation from investors pushed cotton prices to the day’s losses, after they climbed 1.8 percent during the previous session as investors renewed investment in riskier assets at the start of the quarter.
Since nations like the U.S. and Australia have lifted their bans on growing hemp, a revolution is brewing.
Innovators are taking up the gauntlet to cultivate this versatile plant for a medley of biodegradable materials including plastic polymers, building products, fabrics, wood, biofuel, paper and even car components.
It’s not new. The fiber from industrial hemp (Cannabis sativa) – from the same species as its cousin marijuana but without the mind-altering THC – has been used for thousands of years to make paper, rope, cloth and fuel.
The apparel retailer said that the composition of inventory has improved, implying it will become easier to sell the garments.
Hennes & Mauritz AB surged after the struggling Swedish clothing retailer showed progress coping with a buildup of unsold garments, raising hopes that the worst may be over after a three-year slump in earnings.
Inventory dropped slightly as a proportion of sales, easing to 18.2% at the end of May from a record 18.9% as of last August, H&M said Thursday. CEO Karl-Johan Persson said H&M still aims to boost operating profit this year.
On June 26, 2019, the U.S. Department of Commerce (“Commerce Department”) announced affirmative preliminary determinations that imports of polyester textured yarn from China and India are being unfairly sold below their fair value in the United States at significant double-digit margins, as follows.
Polyester Textured Yarn Imports from China
Producer/Exporter Preliminary Dumping Rate (%)
Fujian Billion Polymerization Fiber Industrial Co Ltd. 77.15
Suzhou Shenghong Fiber Co., Ltd. 77.15
Jiangsu Hengli Chemical Fiber Co., Ltd. 76.07
PRC-Wide Entity / All Others 77.15
China's Zhengzhou Commodity Exchange said it will promote the introduction of qualified overseas traders in the trading of cotton futures.
The exchange listed the goal in a recently-issued white paper on cotton futures.
As the world's largest producer, consumer and exporter of textile, China listed cotton futures on the exchange in June 2004 to help cotton-related enterprises hedge the price risk. Since 2004, a daily average of 144,000 lots (5 tonnes per lot) have been traded.
