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Several Chinese spinning mills cut production
05
Oct '12
Exports of textile products from China have increased in volume, but the same cannot be said about their value, due to a decline in prices of textile products in the international market.
 
As a result, Chinese textile enterprises are finding it difficult to maintain their export growth and around 50 percent of spinning mills with less than 30,000 spindles have either stopped or reduced production, according to the China Cotton Spinning Association.
 
Among the problems currently affecting the performance of the Chinese textile industry are – the gap between domestic and imported cotton prices, decrease in demand, growing competition in global market and increased costs of financing.
 
Of these, the price gap between domestic and imported cotton is of utmost concern. Since the fourth quarter of 2011, the price gap has continued to widen and as of July 19, 2012, the difference touched 4,100 yuan/ton, which greatly undermines the global competitiveness of China’s textile sector.
 
From January to June this year, cotton fabric imports by the US from China declined 1.4 percent year-on-year, as per the data from the US Department of Commerce.
 
On the other hand, the US cotton fabric imports from Vietnam and India surged by 23.4 percent year-on-year and 20.5 percent year-on-year, respectively.
 

Fibre2fashion News Desk - China

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