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Operating rate of downstream fabric mills remained high by mid-Nov. Some saw falling new orders and started producing inventory. The operating rate of warp knitting plants and circular knitting mills in Foshan, Guangdong inched down in the first half of Nov. With warm weather, sales of velvet fabric
The run rate of fabric mills has been lower than 30%. Most factories have started Spring Festival holiday now, which is around 26 days before the Lunar New Year, the earliest in history. The holiday schedule of 2021 and 2022 was earlier than the previous years too, but was near 16-17 days before the
Fabric mills witnessed improving orders but the improvement was not apparent. Stocks of fabrics declined slowly. The capital turnover met bigger resistance. Some orders were rerouting out of China to emerging markets like Southeast Asia and India. The operating rate of fabric mills was still lower o
Recently, stocks of fabric kept declining substantially, almost close to the level at the same period of 2020. Some fabric mills were even reluctant to undersell. Actually, fabric mills saw higher feedstock inventory, rising price, higher processing fee and increasing operating rate now. Meanwhile,
