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Reports Chinese Textile Prices Will Drop

BEIJING – /PRNewswire-Asia/ – Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, reports domestic textile prices will drop.

After entering July, the textile off-season has arrived, and policy regulation pressure is intense, so cotton prices are down. In Shandong, Jiangsu, Zhejiang, Henan and other provinces, cotton and light textile market yarn have declined in price by RMB 500 to 1000 / ton. As with the traditional off-season for the textile market, the textile industry in the second half of 2010 is not doing well; textile and garment exports may be worse, and cotton yarn prices continue to drop.

The Chinese cotton market continues to perform poorly, while the Chinese polyester textile market is also facing the same problem. Current domestic polyester stock remains high, and market sales performance is unsatisfactory.

According to Himfr's statistics, since early May this year, Chinese polyester prices have fallen by RMB 1,100 per ton, polyester chip prices have fallen by RMB 1,000 per ton. But the Chinese polyester producers cannot adjust operating rates, and continue to maintain a high level of market capacity utilization, so that the Chinese textile industry chain, including the polyester raw material PTA, polyester staple fiber, and polyester filament plant inventory rate have increased substantially. Lack of demand in the market has led to drops in prices.

Inventory is high in the Chinese textile market, resulting in textile enterprises reducing purchase of textile raw materials, market demand declining sharply.

At present, in the second half of the year, Chinese face a decline in economic growth, while the U.S. economy has been performing relatively weakly and the debt crisis in Europe has not been fundamentally resolved. Inflation in China makes the country's situation more complicated; all these factors will lead to prices dropping in the Chinese textile industry.

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