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News Flash
Daily worldwide cotton market report
13 May '09
5 min read
US apparel imports significantly fell in first quarter this year with a sharp drop from a large number of origins. Due to quotas' elimination, China gained additional market shares but its shipments were down in volume terms. Bangladesh is the main winner thanks to its significantly lower prices, according to our series of statistical tables.
Yarn prices continued steadily rising on the international market in the past weeks. This is mostly due to anticipation of higher fiber and yarn prices in the near term which stimulated demand from the Far East. Indian exporters of quality yarns to Europe and Brazil are still confronted with a relatively depressed market.
EU retail sales were less depressing in March, compared with a very disappointing February. Some rebound was even reported for the UK, Germany and France. Eastern Europe is subject to sharply falling sales by contrast, excepted in Poland. Consumer confidence is deteriorating in line with rising unemployment and EU clothing market could be long in taking advantage of any economic recovery elsewhere.
Polyester staple fibers surged in May in India, mostly due to a sharp rise of PTA and MEG on Asian markets. If POY prices were also raised, DTY prices remained unchanged as power shortages curbed production in the filament weaving industry, in addition to seasonal factors, our India Correspondent reports.
Polyester prices are now declining in China. The market consolidation was triggered by a similar fall in raw material costs and an increase in polyester production. Downward processors of spun and filament yarns began also rejecting any new rise in prices after the sharp rebound observed in the past weeks.
Cotton prices further soared across the board in the past week with New York finishing just below the 60-cent level. U.S. futures were boosted by fund buying in line with a general return to optimism and a consecutive fall in the US dollar. Cotton prices also climbed in India and Pakistan while China continues retaining its large stocks.
Yarn prices continued steadily rising on the international market in the past weeks. This is mostly due to anticipation of higher fiber and yarn prices in the near term which stimulated demand from the Far East. Indian exporters of quality yarns to Europe and Brazil are still confronted with a relatively depressed market.
EU retail sales were less depressing in March, compared with a very disappointing February. Some rebound was even reported for the UK, Germany and France. Eastern Europe is subject to sharply falling sales by contrast, excepted in Poland. Consumer confidence is deteriorating in line with rising unemployment and EU clothing market could be long in taking advantage of any economic recovery elsewhere.
Polyester staple fibers surged in May in India, mostly due to a sharp rise of PTA and MEG on Asian markets. If POY prices were also raised, DTY prices remained unchanged as power shortages curbed production in the filament weaving industry, in addition to seasonal factors, our India Correspondent reports.
Polyester prices are now declining in China. The market consolidation was triggered by a similar fall in raw material costs and an increase in polyester production. Downward processors of spun and filament yarns began also rejecting any new rise in prices after the sharp rebound observed in the past weeks.
Cotton prices further soared across the board in the past week with New York finishing just below the 60-cent level. U.S. futures were boosted by fund buying in line with a general return to optimism and a consecutive fall in the US dollar. Cotton prices also climbed in India and Pakistan while China continues retaining its large stocks.
Ghulam Rabbani & Co.
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