Textile Cotton Fabric Exporter

10 November 2008 - Cotton prices further fell in the last week in New York, in line with prospects of a lower consumption this season with larger ending stocks than previously anticipated, as a result. Cotton futures last week crashed in China while the physical market was extremely depressed. While state intervention did not stop the decline in China, it resulted in a rebound in India. Prices are no more falling in Pakistan, for a similar reason.

10 November 2008 - Polyester intermediate prices started declining over the weekend in Asia, after more or less rebounding in the last week. A new rise in oil prices on Monday morning may however offer some support to PTA and MEG prices which are now clearly following the level in crude futures in New York. On the other hand, last week's attempt to raise prices may result in a long-term failure with prices further falling in the coming period. Volatility was extreme in the past twelve months, as reflected by our series of graphs.

7 November 2008 - A strong change in currency trends in October will seriously affect the global clothing market in the coming months. The euro and British pound dramatically fell against the US dollar, potentially limiting European imports in the next year. Wide differences were also observed between currencies of emerging countries, with Indian and Pakistani rupees further sliding and the Bangladeshi taka remaining at a relatively high level.

7 November 2008 - Spun yarn prices sharply declined in the last two weeks in China, in line with a fall in raw material costs. A series of yarn producing companies had to leave the business due to a lack of liquidity. Others reduced their production level. Spun polyester yarns lost about 12-14% over the two-week period while cotton yarn prices less strongly declined, as reflected by our tables about three major markets.

7 November 2008 - U.S. International Trade Commission: Statistical Reports on Textile and Apparel Imports from China. Viscose Fibers and U.S.-Australia Free Trade Agreement. - U.S. Customs: CBP Trade Strategy / Fiscal Years 2009-2013. - U.S. Federal Trade Commission: Various Textile and Clothing Regulations. - U.S. Department of Agriculture: Cotton Program Changes for Loans and Loan Deficiency Payments. - Brazil's Ministry of Industry and Foreign Trade: Rejecting Lenzing's Appeal Regarding VSF Anti-Dumping Tariffs.

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.