Oversupply weighs on Asia’s paraxylene prices
Asia’s spot paraxylene (PX) prices are likely to remain under downward pressure from ample regional supply amid continued weakness in downstream markets, industry sources said. Asia’s PX inventory remained high, with end-users not likely to hold on to excess volumes in the near term, market sources said. Cargoes from Singapore, India, the Middle East and the US for November and December shipments remained on offer in Asia. Excess monthly supply is estimated at 20,000 tonnes, but traders said that the combined volumes for October and November shipments could be as high as 100,000 tonnes, augmented by Europe cargoes, market sources said.
Big brands maintain lead
CMAI’s Apparel Index for Q1 April-June FY 2016-17 indicates the industry has managed better growth with overall Index Value at 5.45 points compared to previous quarter (Q4) where the overall Index Value was 3.79 points. Giant and large brands, like always have maintained their growth trajectory which is still much higher than small and mid brands. In fact, growth this quarter for giant and large brands is higher than last quarter but lower than the same quarter previous year.
Cotton futures scale 2014 peak
According to a NASDAQ Report, cotton for December delivery rose 2.1 per cent to end at 75.83 cents a pound on the ICE Futures U.S. exchange, the highest since June 24, 2014. Cotton has been a star performer this year among commodities.
GST to boost textile exports: ITF
Textile industry in the region today welcomed the passage of GST bill by Rajya Sabha, terming it as one of the biggest and transformational reforms in the economic history of the country and said it would pave the way for growth of exports.
Big brands maintain lead
CMAI’s Apparel Index for January-March 2016 (Q4) indicates that the industry managed to clock in a moderate growth with an overall Index value of 3.79 points. Giant brands (with a turnover of above Rs 300 crore) and large Brands (with a turnover of above Rs 100 crore to Rs 300 crore) however, maintained their growth trajectory, even though their pace slowed down as compared to previous quarters.
Ample supply may soften PE, PP prices in Q3
Asia’s polyethylene (PE) and polypropylene (PP) prices may fall in the third quarter amid supply-demand imbalance, according to ICIS, which quotes industry sources. The third-quarter market outlook was a hot topic among buyers and sellers gathered in Shanghai for Chinaplas – a four-day annual exhibition for the plastics and rubber industries that kicked off on April 25.
Cotton prices to rise?
Cotton prices in the Indian market are expected to rise during the coming “off-season months” on reports of lower production forecast and lesser carryover stocks likely for the next season on better consumption and exports.
Small drop in HOSEX
The Federation of Hosiery Manufacturers’ Association of India (FOHMA) is the apex body for the hosiery industry in India. Over the past four decades, FOHMA has been constantly endeavouring to come out with new initiatives to assist the industry in becoming world class and organised to benchmark itself against the best in the world.
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