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U.S. cotton futures rebounded from two days of declines to rise nearly 2 percent on Thursday, their most in a month, as speculators returned to support the market despite sharply lower export numbers for the fiber.
Data from the U.S. Department of Agriculture showed all upland export sales of cotton at 27,100 bales last week, which traders said was a marketing year low for the 2013/14 crop.
The exports were 62 percent down when compared to USDA data released the previous week, and 87 perce
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Top 10 Categories in Rising
Top 10 Categories in Rising
1.Nylon Fabric
2.64%
1.Fashion Fabric
-2.34%
2.NC Fabric
2.50%
2.Apparel Lining
-2.09%
3.TN Fabric
2.09%
3.Polyester
-1.30%
4.Bedding
1.99%
4.VW Fabric
-1.11%
5.Thread & Rope
1.74%
5.TW Fabric
-0.74%
6.Lining
1.69%
6.Chemical Fiber Grey Cloth
-0.71%
7.Other Chemical Fiber
1.63%
7.TS Fabric
-0.66%
8.Belt
1.59%
8.Viscose
-0
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Textile Raw Material Price 2014-02-26
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
101.83
USD/Barrel
-0.96%
2014-02-26
Crude Oil Brent
109.51
USD/Barrel
-1.02%
2014-02-26
PX
1239
USD/Ton
-0.16%
2014-02-26
PTA Buy
6250
RMB/Ton
-0.79%
2014-02-26
PTA Sell
885
USD/Ton
-1.67%
2014-02-26
MEG Buy
6650
RMB/Ton
-1.63%
2014-02-26
MEG Sell
910
USD/Ton
-1.62%
2014-02-26
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U.S. cotton futures slid for a second straight day on Wednesday as speculators who had bulked up on the fiber offloaded more positions, while millers were mostly averse to buying at prices offered believing the market would fall further.
Caution over how the market would react to weekly export and sale numbers of U.S cotton due on Thursday also put buyers on the defensive, traders said.
The most-active May cotton contract on ICE Futures U.S. settled down 0.98 cent, or 1.1 percent at 86.37
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Textile Raw Material Price 2014-02-25
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
102.82
USD/Barrel
0.61%
2014-02-25
Crude Oil Brent
110.64
USD/Barrel
0.72%
2014-02-25
PX
1241
USD/Ton
-2.36%
2014-02-25
PTA Buy
6300
RMB/Ton
-0.47%
2014-02-25
PTA Sell
900
USD/Ton
-1.85%
2014-02-25
MEG Buy
6760
RMB/Ton
0.15%
2014-02-25
MEG Sell
925
USD/Ton
0%
2014-02-25
CPL
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US ethylene contracts for January were heard fully settled up 2 cents from December, with the net transaction price at 50.25 cents/lb, market sources said Wednesday.
The posted price also rose 2 cents from December to 54.75 cents/lb.
January's settlement brings the contract prices to their highest levels since April 2012.
Source: Platts.
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US propane and propylene stocks fell 1.2 million barrels to 26.71 million barrels for the reporting week ended February 14, Energy Information Administration data showed Thursday.
Gulf Coast stocks saw a draw of 533,000 barrels to fall to 15 million barrels. East Coast stocks saw a 353,000-barrel draw to 1.6 million barrels, while Midcontinent stocks fell 137,000 barrels to 8.83 million barrels.
Propane prices fell hard following the report. Propane at Mont Belvieu, Texas, the Gulf Coast s
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New York-traded cotton futures hit four-month highs on Monday, piercing the 90-cent/lb psychological mark, after an absence of physical delivery against the front-month contract indicated supply of the fiber was even tighter than thought.
The market also saw support from the dollar's slide as news that Ukraine might receive international aid for its debt crisis reduced safe-haven bets placed on the dollar. The dollar edged lower against the so-called commodity currencies of Australia, Canada
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Textile Raw Material Price 2014-02-21
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
103.31
USD/Barrel
0.86%
2014-02-21
Crude Oil Brent
110.47
USD/Barrel
0.01%
2014-02-21
PX
1308
USD/Ton
0%
2014-02-21
PTA Buy
6490
RMB/Ton
-0.15%
2014-02-21
PTA Sell
928
USD/Ton
-1.69%
2014-02-21
MEG Buy
6860
RMB/Ton
-0.87%
2014-02-21
MEG Sell
943
USD/Ton
-0.53%
2014-02-21
CP
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Textile Raw Material Price 2014-02-20
Item
Price
Unit
Fluctuation
Date
Crude Oil WTI
103.31
USD/Barrel
0.86%
2014-02-20
Crude Oil Brent
110.47
USD/Barrel
0.01%
2014-02-20
PX
1308
USD/Ton
0%
2014-02-20
PTA Buy
6490
RMB/Ton
-0.15%
2014-02-20
PTA Sell
928
USD/Ton
-1.69%
2014-02-20
MEG Buy
6860
RMB/Ton
-0.87%
2014-02-20
MEG Sell
943
USD/Ton
-0.53%
2014-02-20
CP