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Textile market relatively stable in March
11
Apr '09
China's textile market was relatively stable in March. Cotton prices rose slightly before slightly dropping while cotton yarn prices at the end of March were basically the same, when compared with those in the month end of February.

At present, stocks of domestic high-grade lint have almost exhausted in the markets and very few companies still hold cotton stocks. Large textile groups have improved their price levels, which in turn has created a ray of hope in cotton markets.

The confidence of cotton enterprises has improved and more of them have started storing cotton on expectations of a bullish market, which is also creating difficulty for cotton consuming mills in procuring high quality cotton.

But the biggest challenge the cotton market faces is accessing funds and many companies admit that current shortage of funds remains a serious problem. The increase in tax rebates once again in April has made many optimistic.

The consecutive increase in tax rebates is considered a good sign by the sector and reflects the importance of the industry in the policy making framework of the government, which is also leading to an improvement in confidence.

However, along with the optimists, there are also some pessimists, who aver that the current decline in external demand has shown no signs of improvement and despite the measures, order book position of export companies is till worrying.

In other market news, Polyester staple fibre prices fell by 50 Yuan per ton to touch 7850 Yuan per ton, while viscose staple fibre rose by 100 Yuan per ton to reach 12,780 Yuan per ton at the end of March from the closing price in February.

Fibre2fashion News Desk - China

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