Weekly Report: Textile Export Increased in January

In January, according to Customs, export value of apparel totaled 110.56 billion Yuan, 13.4% up over the month; textile export value totaled 64.44 billion Yuan, 11.7% up over the month. During recent two years, most domestic textiles adjusted product structure, put effort on R&D, and improve administration level to respond to the economy slow down, RMB appreciation and large cotton price domestic and abroad. In January, textile export remained at high level, and the finished product inventory was less than expected; in response, textile product price was raised slightly. Last week 10th -14th February, cotton textiles gradually came back to operation, and started buying cotton, CC Index 3128B settled at 19,448 Yuan per ton, 4 Yuan up over the week.
Last week, 188,032 ton of reserve cotton was offered for auction, mostly domestic cotton, 62,500 ton was sold at transaction percentage of 33.2%. By 14th February, reserve auction had offered 1,331,020 ton for sale with 492,780 ton sold at transaction rate of 37.0%. In order to meet textile demand for high quality cotton, Xinjiang cotton and import cotton would be delivered by reserve latter. The reserve purchase and warehouse delivery inspection would be restored on 17th February.
Last weekend, FC Index settled at 97.83 cent/lb, 1.15 cent down over the week.