Textile Cotton Fabric Exporter

6 November 2008 - Polyester staple fiber prices bottomed out since the start of the week in China, following a rebound in glycol prices in Asia. Chip prices surged while filament prices also started recovering. The rebound in prices could rapidly end, however, given the low level in demand from the textile industry.

6 November 2008 - Cotton futures failed in recovering in the past days in New York, where Tuesday's rally was offset by Wednesday's fall in prices. Global cotton use would be down 3% this year, the ICAC just predicted, with imports from China sharply declining. State intervention could be massive in China, India and Pakistan in order to support cotton prices. The textile industry may not take advantage of significantly lower raw materials, as a result.

6 November 2008 - Viscose staple fiber prices continued sharply declining in the last two weeks in China, reflecting lower raw material costs and a continued weakness in demand from spun yarn producers. Filament prices less dramatically fell, however, even stabilizing in the last days as volume sales were recovering.This is mostly due to drastic reductions in operating rates of filament makers. The staple fiber industry may follow the same path. In India, global viscose leader Grasim announced a 30% reduction in its production.

5 November 2008 - The election of Barak Obama and a wider majority for Democrats in the US Congress could result in less "free textile trade" and more "fair textile trade" in the coming years, with the United States showing some tougher attitude towards China. With textile quotas expiring at the end of the year, apparel imports from China could be subject to new restrictions under the product-specific safeguard, as already announced by Barak Obama. On the other hand, the new president could find it difficult combating what he calls "China's currency manipulation".

5 November 2008 - Cotton yarn prices started significantly declining in the past month on Pakistan's domestic market, our Correspondent reports. This is mostly due to the fall in cotton prices while demand also weakened, at the same time. Yarn prices declined between 11% and 17% on Karachi and Faisalabad markets, as reflected by our series of statistical tables.