Archive by category: MaterialsReturn

Cotton Prices Go On the Defensive

After some two months of moving to the upside cotton prices are now on the defense while attempting to hold the important 83-84 cent major support level. The next major support level would be 79 cents.  After suffering a ten cent loss as speculative funds took profits and exited the market, fundamentals are now back in the picture.  Yet, the tariff nervousness was a drag on the market, but no more so than the recent rains in Texas.  It was not important exactly where and how much ...
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Rain Brings Down Cotton Prices

The musical world told the story of cotton trading this week…low low prices and no high prices:  The lyric “It’s all about the bass, no treble” told the full story.   There was nary a high note to be heard, just all low and lower notes came out of the mouth of traders.   Trading took the market down a thin dime, a 1000 points; now we can look for some recovery and hope for a little treble.Prices sensed troubles at the prior week’s close as ...
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Cotton Prices Push Higher, A Bigger Crop Could Bring Them Down

After challenging contract price highs during the week, a combination of overbought conditions, coupled with more showers across Texas and the Southwest, trumped the market’s push to higher ground and forced all contracts except July and October below the 90 cent level. Nevertheless, the price uptrend remains in place.  However, the market is inspecting the lower end of the price range as opposed to the upper end and is working the 88 to 95 cent trading range.  Thus, the bottom e...
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Lower Stocks Drive Cotton Prices Higher

The juice continued to flow into the cotton market as new contract highs and new high closes were made during the week.  Too, it was very satisfying to the bulls as the week ended with the market holding its strength.    Most are beginning to realize that world stocks are not at the levels presumed, as well as the fact that U.S. ending stocks will be much lower, likely some 800,000 to 1.1 million bales lower than USDA estimated.  U.S. export sales have slowed as the 90 c...
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Mills Scramble to Buy Cotton Fearing Higher Prices

Fittingly the circus midway has come to the cotton market, “round and round and round she goes, where she stops no one knows.”   It’s a catchy theme and one that is catching more than a few textile mills as they scramble to buy into the market to complete their pricing, i.e., price fixations on the July contract.  The world cotton surplus has been resolved and once again the market is at the whims of Mother Nature.  She is holding all the new crop cards.&nbs...
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Imprima Acquires City Prints & Premier Fabrics

IMPRIMA S.p.A. has acquired  City Prints and sister company Premier Fabrics, both American companies specialised in printed textiles. Imprima, controlled by Wise SGR through the Italian private equity fund Wisequity, now strengthens its strategic positioning, consolidating its global presence as a leading player in the field of printing and textile finishing for international retailers and fashion brands. City Prints and Premier Fabrics, founded in 1997 and headquartered in New Yo...
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Mike Simko Named Hyosung Global Marketing Director

Mike Simko Named Hyosung Global Marketing Director

Hyosung Corporation (Korea), the world's largest spandex producer and owner of the creora brand, has announced the appointment of a new Global Marketing Director for Textiles Performance Unit to drive Hyosung’s “commitment to excellence” in the textile industry.Mike Simko, Global Marketing Director, will lead the Hyosung’s global marketing of creora spandex, MIPAN nylon and specialty polyester fibers to deliver innovation and superior brand and retail collaborative se...
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Invista Sells Apparel & Advanced Textiles Business to Shandong Ruiyi

INVISTA, one of the world’s largest integrated producers of chemical intermediates, polymers and fibers, has agreed to sell its Apparel & Advanced Textiles business to Chinese textile giant, Shandong Ruyi. The deal is expected to be closed by mid-2018, the purchase price is undisclosed, according to INVISTA. The transaction includes:INVISTA’s portfolio of apparel-focused fibers and brands including LYCRA fiber, LYCRA HyFit fiber, COOLMAX fiber, THERMOLITE fiber and insulatio...
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Hurricane Fails to Drive Up Cotton Prices

This is a tough one.  While losing some 700 points from the hurricane driven high, December futures are still hovering near 69 cents and attempting to dig in its heels.  Its efforts will prove fruitless I predict.   The real work will have to the done once the market tests its long term price support at 65 cents.  Further down is the excellent support at 62 cents.  How dare I speak of prices in the low 60’s?  Okay, let talk about the high 50’s then....
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China’s Cotton Subsidy

In October Beijing approved the 2016 Xinjiang Cotton Growing Subsidy Plan Reform Scheme  (2016年新疆维吾尔自治区棉花目标价格改革试点工作实施方案 ). For the current crop year, the target cotton price is ¥ 18,600 (US$2,689), the same as the previous year. However, this year the Xinjiang government will establish a cotton grower dishonest list (棉花生产者补贴失信名单制度). Growers who defraud the cotton subsidy will be added to the list and won’t receive the cotton-growing subsidy the next crop year.
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