Textile Industry Updates (From 20th August to 29th August 2018)

29 Aug 2018

Textile Industry Updates (From 20th August to 29th August 2018)

August 29, 2018Market Watch

1) China domestic PTA market remained strong and showed sharp hike in the week.

2) China domestic MEG market remained strong in the initial stages but dropped in the end of the week.

3) China both MEG futures and PTA futures showed overall rise in the week.

4) After a slow start due to the delayed monsoon, cotton cultivation across Gujarat has covered ground and surpassed last year’s acreage.
Cotton has been sown on 26.74 lakh hectares as on August 13, 2018. The area covered with the fibre crop was 26.51 lakh hectares in 2017, the latest Kharif sowing data released by the state agriculture department shows.

5) Cargo imports at U.S. container ports have set records this summer as retail sales remain strong and merchants rush to bring merchandise in ahead of proposed new tariffs on goods from China, according to a new Global Port Tracker report from the National Retail Federation and Hackett Associates.

6) From January to June 2018, the EU’s exports of textile and clothing products grew 15.12% year on year.
Of all textile and clothing products, earnings from readymade garments were up 16.26% while earnings from other textile products were up 14%.

7) The Australian Wool Exchange Eastern Market Indicator (EMI) have risen by 18 cents per pound for the week ended Friday, following a three-week seasonal break in sales, amid a drought that’s hindering supply.

8) The country’s garment and textile export are expected to post between 10-20% increase this year as some orders are now being shifted from China to the Philippines to avoid the high tariffs imposed by the US on Chinese goods, including garments and textile.

9) Global paraxylene prices maintained upward momentum in the week.

10) China domestic ACN prices remained firm in the beginning of the week.
Producers posted offers stable, followed closely by sellers. While producers continued to ramp up numbers since past few days, which further underpinned market confidence. International ACN market extended stability.

11) In the midweek, China ACN market looked promising ahead of settlements.

12) China ACN players wait and see due to unclear outlook in the end.
Market atmosphere was relatively silent, with no big news heard from downstream users, who largely put themselves on the sidelines in cautious mood, given the unpredictable performance next month, seeing both bulls and bears split ACN market.

13) Turkey’s technical textile exports grew by 20.1% to US$ 898 million in the first half of 2018. The most exported product group from January to June was nonwovens.

14) Bangladesh’s exports to China fell 26.79% year-on-year in 2017-18 as China has toughened certification regulations no longer accepts Bangladesh’s certification standards.
Bangladesh is a global leader in garment products, but China does not allow duty-free import of all garments. As a result, exports of garments to China are not increasing.

15) The total exports of textiles and raw materials in Turkey increased by 8% to US$ 5.3 billion in the first half of 2018.
From January to June, the most important export market for Turkey in this sector was Italy. Exports to Italy rose by 5.8% in January-June 2018 to US$ 474 million.

16) For the first half of 2018, spandex supply in China significantly outstripped demand.
Spandex was purchased on demand, and inventory of several weavers and dealers slightly went up. Spandex prices continuously dropped, but prices of MMDI, one of the main feedstocks for spandex, increased by around 20% year on year.

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