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Related Keywords: Formosa Chemicals, plans to shut down Taiwan plant

Formosa Chemicals & Fiber Corp , a unit of Formosa Plastic Group, is planning to shut down its plant in Taiwan from first week of October government declined to renew permits for its cogeneration equipment.

Formosa Chemicals has applied for the renewal of license for the power plant equipment, however the Changhua county government insisted the company apply for a new permit as the amount of coal and steam used during the manufacturing process has changed over the intervening decades, said vice chairman Hong Fu-yuan.

Related Keywords: Asian yarn and fibre industry, Birla Spunshades, Birla Viscose fibres, fibre products in China, fibre suppliers, high quality cotton yarns, Indian textile industry, Messe Frankfurt, synthetic yarn in China, textile industry in China, textile makers in Indonesia, textile manufacturers in India, Uzbekistan yarn industry, Yarn Expo Autumn 2016, yarn suppliers

One of the most important annual events in the Asian yarn and fibre industry, Yarn Expo Autumn is set to return this week from 11th – 13th October 2016, with a record number of exhibitors and exhibition space.

“Following on from the strong business sentiment about the yarn and fibre industry at the spring fair in March, we are just as optimistic for this edition as well given the exhibitor number has risen once again to a new record for the fair,” Ms Wendy Wen, Senior General Manager, Messe Frankfurt (HK) Ltd, said.

Asian MEG was cheaper by US$11 a ton CFR South East Asia marker and CFR China in the third week of September. In China, offers were at US$630-35 a ton, changing marginally in the first half of the week and deals were talked and concluded at US$630 a ton. By weekend, buying interest weakened, and central values fell by US$10 a ton.

Related Keywords: MEG price in China, MEG price in Europe, meg price in US, MEG prices, mono ethylene glycol prices, Polyester prices

Asian paraxylene prices were up US$6.25 a ton CFR Taiwan/China in the third week of September while FOB Korea was up US$6.33 a ton on the week.

Paraxylene prices in Asian markets inched up on the week on higher naphtha cost while the Px-naphtha spread remained below US$400 a ton. Naphtha spot prices gained US$16 on the week to US$410.90 a ton CFR Japan. Meanwhile in China, Sinopec settled its September contract price.

Related Keywords: naphtha price, naphtha price in asia, paraxylene price, paraxylene prices in Asia, paraxylene prices in Europe, paraxylene prices in US, PX price

Related Keywords: Intertextile Shanghai Apparel Fabrics, Nantong Teijin, Teijin Frontier

Teijin Frontier and Nantong Teijin will participate in Intertextile Shanghai Apparel Fabrics–Autumn Edition 2016, which will be held at the National Exhibition and Convention Center in Shanghai from 11-13 October.

Being the world’s biggest and most comprehensive exhibitions of apparel fabric and accessories, last year it attracted around 66,000 people and 4,600 companies from nearly 30 countries. More than 2,700 suppliers are expected to participate in the show this year.

Related Keywords: Imports of second hand textile machines, Smriti Irani, subsidy on imports of textile machines

Subsidies provided by the government on imports of second hand textile machines hurting the technical textile sector and garment designers.

While addressing the convocation of National Institute of Fashion Technology (NIFT), Irani said that "If you look at the Indian economy from a textile perspective, most of our subsidies have gone in importing of second hand machines in our country which widely impacts any designer -- be it a designer for a garment or technical textiles

Related Keywords: Hyosung Corp to invest US$ 27 million, increase spandex capacity, South Korea, Turkey

Hyosung Corporation, a leading textile company in South Korea plans to invest US$27 million to expand spandex capacity by 5000 tons in Istanbul, Turkey amid increasing demand from European and Middle Eastern markets.

The company is planning to complete the expansion by H1 2017 and the capacity will be 25000 tons per year. By then, it would also be ready to open a new factory in Quzhou, China, with annual capacity of 16,000 tons. The company’s total global spandex output capacity would be ramped up to 221,000 tons next year.

Related Keywords: commercial production of FDY and DTY, Filatex India

Filatex India’s project for manufacturing of 115 TPD Fully Drawn Yarn (FDY) and 200 TPD of Drawn Textured Yarn (FTY) at Dahej, Gujarat has been fully commissioned. The company primarily manufacturing several grades of polyester yarn.

The commercial production of FDY and DTY has started in September 2016.

Shares of Filatex India rose 5.3 percent intraday Tuesday as it has commenced manufacturing of yarm at its existing unit in Dahej, Gujarat

Related Keywords: 12 percent drop in rains and acreage, Cotton price to surge, raw cotton prices, Trident, Vardhman

Around 12 percent drop in rains and acreage that hit soon to be harvested crop have led to concerns over cotton supplies, making the fibre as much as 20 per cent costlier than at this time last year.

Raw cotton prices were in the range of Rs 5,400 per 100 kg, even as fresh crop has started arriving in the wholesale markets of Punjab and Haryana. Because of the firm prices, people are buying only as per their requirement, traders, ginner and millers said.

Indian Oil Corporation Ltd (IOCL) is planning to expand its two refineries at Barauni (UP) and Panipat (Haryana) respectively by spending Rs. 9814 crores. Meanwhile IOCL will spend Rs 8287 crores to increase the capacity of Barauni refinery from 6 MMTPA to 9 MMTPA capacity, while it will spend Rs 1527 crores for the expansion of Panipat refinery.