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Related Keywords: causes surge in prices, cotton bales, Cotton market, Hectic trading activity, indulged in forward buying, largest cotton trader LD, official spot rate, prices in ready business, pushing the rates up, rising demand, shortage of cotton crop in the producing countries, touching season high

Hectic trading activity was witnessed at the cotton market with prices in ready business and official spot rate touching season's high on Monday, dealers said. In ready business, more or less 10,000 bales of cotton changed hands between Rs 6500 and Rs 7000.

The official spot rate picked up further by Rs 150 to Rs 6400. While in Sindh seed cotton prices posted fresh gain of Rs 100-Rs150 to Rs 3400 and Rs 3500 per 40 kg, respectively, In Punjab, rates of phutti also went up at Rs 3400 and Rs 3600, dealers said.

Related Keywords: abolish additional regulatory duty, arrival of new crop, cartelization of local manufacturers, cotton yarn, Cotton yarn prices increased, import of yarn, impose a ban on the export of raw cotton, PRGMEA, short period, taking advantage of additional regulatory dutry, to rationalize the rates of yarn, whole value-added apparel sector hit hard

The prices of cotton yarn 10 count single yarn have increased by around 25 percent to reach Rs11500 per bag of 100 pounds from Rs9950 during the last one-and-a-half months and same is the case with other varieties of yarn, including 16 count 30 yarn and 16 count 20 yarn due to cartelization of local manufacturers who are taking advantage of 10 percent additional regulatory duty on the import of yarn.

Related Keywords: Africa Cotton & Textile Industries Federation, African cotton and textile industry, Africa’s Trade Event, clothing industries, home decor, international textile market, International Trade Exhibition, Origin Africa 2016 trade show, textile events in Africa, textile trade in Africa, Textiles, textiles investment, textiles machinery and technology

Origin Africa 2016 trade show is Africa’s Premier Trade Event that highlights the creativity and innovation of the African cotton, textile, clothing industries, home décor, machinery and technology, with a specific focus on business, trade and investment both regionally and internationally while capturing the spirit, style and innovation of modern Africa.

Related Keywords: Cotton market, helping rates to go up, higher rates, official spot rate gained further, other mills continued buying of fine quality, rates of phutti also inert, ready business, showed no change, Sindh seed cotton prices, some leading mills kept on the sideline, tight supply position, trading activity, witnessed a bullish trend persisting

Trading activity at cotton market witnessed a bullish trend persisting on Tuesday. The official spot rate gained further Rs 50 to Rs 6450 while, in Sindh seed cotton prices showed no change at Rs 3400 and 3500 per 40 kg, respectively, In Punjab, rates of phutti also inert at Rs 3400 and Rs 3600, dealers said.

In ready business, more or less 6,000 bales of cotton changed hands between Rs 6650 and Rs 6900, they said.

According to the market sources, some leading mills kept on the sideline due to higher rates, in the meantime, other mills continued buying of fine quality.

Related Keywords: China, customers in America and Europe, global leader in performance material, keep up with increased demand, Low & Bonar, nonwoven premium brand fabric, plans capacity expansion, produced using a proprietary, recently opened production facility in Changzhou, recognized for Colback brand, spinning of bi-component, two-step manufacturing process

Low & Bonar, global leader in performance material in order to keep up with the increased demand from customers in America and Europe is planning to go for capacity expansion at its recently opened €32 million production facility in Changzhou, China.

The company announced a 60 million sqm capacity expansion at its plant, which opened just six months ago, took two years to develop and currently supplies applications for the flooring, building, and automotive markets (both regional and domestic) in Asia, as well as for air and water filtration.

Related Keywords: attract investors for expansion, CETP plant, eyeing garmenting units, Ministry of textile, other state-of-the-art facilities, set up state-of-the-art textile processing cluster, SGCCI. financial grant, Southern Gujarat Chamber of Commerce and Industry, tertiary treatment plant, Trichy garmenting hub, with hi-tech technology and upgradation

The Southern Gujarat Chamber of Commerce and Industry (SGCCI) looking for financial grant from the ministry of textile, for the proposed state-of-the-art textile processing cluster at Pinjrat village in Olpad taluka of Surat district.

The total project cost for the cluster is pegged at Rs 800 crore. The SGCCI is eyeing 50 percent financial assistance from the central government and 25 percent each from the state government and the industry.

Asian MEG prices fell US$7-12 a ton CFR China and CFR South East Asia in the first week of July. Mono ethylene glycol prices declined in Asian markets on weak demand that week. Downstream, polyethylene terephthalate resin plants in China were heard lowered their operating to 80-85%. China domestic MEG prices also decreased week on week.

In US, weak demand for MEG neutralised tightness as upcoming TAs limited spot availability. Meanwhile, arbitrage to Asia remained difficult. Thus, spot MEG prices were assessed stable.

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 inched down US$2.17 a ton FOB Korea in the first week of July while CFR China was down US$1.50 a ton on the week.

Paraxylene prices in Asian market slipped on the week as crude and naphtha weakened while downstream PTA September futures close down. Cost support appears eased since raw material cost of paraxylene fell sharper than product price. Meanwhile, July contract negotiations reached a major settlement, the first since April.

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

Related Keywords: challenges in textile industry, Govt of India Textile Mentor Committee, Indian textile industry, new president of NITMA, President of Northern India Textile Mills’ Association (NITMA), spinning industry, textile associations in India, textile industry in North India, textile leader, textile units in Northern India, TT Limited, value chain in textiles

Mr. Sanjay K Jain, MD of TT Limited, has been elected as President of Northern India Textile Mills’ Association (NITMA), the apex body of textile industry in North India. NITMA elected its new leadership team in its AGM held on 15 July’ 2016 at New Delhi. Mr. Rajiv Garg, MD of Garg Acrylics was elected as Senior Vice President and Mr. Manish Bagrodia was elected as Vice President. Mr. Hardyal Singh Cheema the outgoing President handed over the baton to the new team.

In China, nylon filament prices were down US cents 1-2 a kg in the first week of July due to weaker currency. Semi-dull FDY70D/24F prices were flat while FDY40D were stable during the week. Nylon DTY 70D/24F prices remained unchanged while 30D/10F were steady on the week. Nylon staple fiber 1.5D prices rolled over while monofilament 30D prices were down US cents 6 a kg on the upper-end.

Related Keywords: caprolactum price, nylon chips prices, nylon filament yarn prices, Nylon prices, nylon prices in China