The exports of readymade garments from the country registered an increase of 3.76 percent during first two months of current fiscal year (FY) as compared to the corresponding period of last year. According to reports, 5,109 dozen readymade garments worth $364.072 million were exported, during the period July-August, 2016, about as compared to the exports of 4,944 dozen valuing $350.867 million of same period last year.
With initial annual capacity of 10,000 metric tons (m.t.). Solvay SA is building a Technyl polyamide compounding unit in San Luis Potosí, Mexico. This new facility is expected to become operational in Q3 2017 to serve the region’s and America’s growing automotive and consumer goods markets.
In Shengze, offers for 32s and 45s polyester yarn were flat in the first week of October. In Qiangqing, offers for 32s weaving rose US cents 3 a kg on the week.
Spun polyester yarn prices remained stable in China with moderate sales and modest transactions. However, offers for PSF were seen US cents 2-3 a kg that week, which can impact yarn prices later next week.
Demand for high-quality unbleached white virgin and pure black 32S yarns was seen picking up.
Asian PTA markers remained flat in the first week of October. In China, offers for nearby-month goods were flat from pre National Day holiday, and potential discussions were between US$600-605 a ton.
Purified terephthalic acid prices remained flat all days that week amid in thin trade although market participants were bullish on prices in the near term after crude surged and feedstock paraxylene price rose on the week.
Taiwan based Far Eastern New Century hopes to capitalize on the country's cheap labor. The company is planning to shift operations from China to Vietnam.
They cannot think of a better place to build their new manufacturing base than Vietnam, which offers cheap, high-quality labor, and stands to possibly benefit from the Trans-Pacific Partnership.
The company expects to triple the annual output of its fabric-dyeing and finishing plants in Binh Duong Province.
Spinning mills have reduced purchasing raw cotton from the market due to inferior produce. The buyers are holding back expecting drop in raw cotton prices with arrival of fresh and 'superior' crops in the market from next month.
There are about 40 spinning units in the state. Each unit has a capacity of one lakh spindles that requires around 450-500 bales of cotton per day.
Aster Textile, a garment producer in Turkey opened a US$9.9 million plant in the Serbian southern city of Nis.
As per sources, the plant will initially employ 300 people, with plans to increase the workforce to 2,000 over the next two years.
Aster received 2 million euro in state support for the plant's construction.
Aster was established in Turkey in 1993 as a company specialising in fashion design and production. Its centres for business development are located in Istanbul, London and Barcelona, while manufacturing plants are based in Turkey and Bangladesh.
Himachal Pradesh based Pioneer Embroideries Ltd’s Dope Dyed Polyester Yarn (DDPY) plant which is located at Kala Amb is expected to come onstream by January 2017. As per sources, it is one of the major expansion project and is currently in full swing.
The ongoing expansion shall have an outlay of Rs. 35 crores approx. Consequent to the completion of the ongoing expansion, there shall be significant increase in sales of the DDPY business.
The EBITDA margins are also expected to grow significantly as the product portfolio shall have more value-added products.
In China, medium-length staple fiber and cotton-type staple prices were flat in the first week of October. PetroChina issued October list prices at a roll over with 1.5D ASF at US$1.87 a kg and 3D tow at US$2.04 a kg.
Acrylic staple fibre prices were stable in Asian markets although cost pressure was heavy due to previous week’s surge in acrylonitrile cost, while liquidity at producers improved on more demand amid upcoming busy season. Some producers tended to underpin prices, while most chose to wait and see.
ASF prices in India and Pakistan also rolled over on cost support.
Asian markers the CFR Far East Asia was flat in the first week of October while Southeast Asia rolled over on the week. In China, offers for offshore cargoes were unchanged on the week.
Acrylonitrile prices remained stable at firm levels amid thin activity, but supply tightness apparently eased as run rate was ramped up. Thus there was some retreat after the short-term stabilization. In China, most sellers maintained firm offers although supply tightness somehow eased. Turnarounds in South Korea and tight supply in Taiwan also supported prices to remain firm.
