Asian acrylonitrile prices rolled over in the last week of May. Acrylonitrile prices were stable week on week in Asian markets, amid thin discussions due to regional holidays.
In US, ACN spot fell reflecting drop in propylene contract price while export activity was quiet. US acrylonitrile export price was down US$5 a ton FOB USG on the week.
Kingbird, a global leader in manufacturing yarns and threads in China, has launched its high tenacity polyester yarns in the North American and European Markets. These multifilament polyester sewing threads are manufactured from the best quality raw material to guarantee stable and high speed stitching.
At the IKEA Democratic Design open house in Älmhult, Sweden last week cooled over sparkly, silver versions of the company’s Frakta shopping bag. This latest incarnation of the iconic IKEA workhorse bag is the work of two Egyptian women who have redesigned a Swedish classic in the name of sustainability, Mariam Hazem and Hend Riad founders of Reform Studio, a design practice that produces furniture and woven textiles from discarded plastic materials.
Tirupur textile industry has knocked the doors of the Ministry, seeking a clarification over the confustion in GST rates on job work on garments as it has not been addressed. At the June 11 meeting, the GST Council had said that services by way of job work on textile yarns (other than man-made and filament) and textile fabrics would be brought down to five percent from 18 percent.
At lint market buyers were seen making deals for better grades of lint on paying premium price, traders at the Karachi Cotton Association (KCA) said. Most of the buyers made deals according to their immediate need of lint on back of grade issue and in anticipation of decline in spot rate.
The spot rate at KCA remained intact at Rs 6,800 per maund in order to provide support to weak stakeholders of raw grade to ward off minimal price level.
Asian MEG prices edged down US$12 a ton CFR China and CFR South East Asia in the last week of May. In China, offers for nearby-month cargoes fell US$25 a ton amid moderate transaction.
Asian paraxylene prices declined US$11 a ton CFR Taiwan/China and FOB Korea in the last week of May. Paraxylene prices edged down in Asian markets, both on weekend and on the week, demand for July was seen weakening and decline in energy complex. Upstream, isomer graded xylene was also cheaper as crude dipped below US$50 a barrel.
At the upcomingTechtextil North America exhibition in Chicago, IL this month, Shima Seiki, a leading computerised knitting machine manufacturer of Wakayama, together with its US subsidiary Shima Seiki U.S.A. Inc., will be exhibiting its flagship Wholegarment machine.
On display will be the company’s latest technological contributions aimed at promoting knitted applications in the field of technical textiles, designed and produced on Shima Seiki’s line-up of advanced computer design systems and computerised flat knitting machines.
The Central government’s decision to cut the levy of import duty and GST from 29 percent to 16 percent on all imported blankets and fabrics will leave over four crore workers engaged in the country’s textile and mink blanket manufacturing units with a dreary future. These units produce nearly 1.5 lakh mink blankets every day, out of which 15 percent are exported to North America, Europe, Russia and Australia.
At the three-day Textile India 2017 global exhibition to be held in Gandhinagar from June 30, fifteen entrepreneurs from the Northeast will showcase their products which will include the rustle of Assamese silk, crispy-soft Manipuri cotton and the warrior shawls of the Nagas. This will add vibrancy to a global textile exhibition in Gujarat.
