4
Reports from Japan often reflect the same circumstances as those which are affecting British and Continental textile interests.
Shipments of spun synthetic yarn last year rose by 69% while cloth exports in this range were 31% higher than in 1967. Most of these were blends with other fibres, resembling the`similar movement towards a multi-fibre industry already operating in other highly industrialised areas.
The most important development in 1968 was the structural adjustments involving the scrapping of machinery and modernisation of equipment. According to the report, 671,000 spindles were scrapped compulsorily during the year and 167,000 spindles were dismantled on a voluntary basis. The number of spindles in place in Japan at the end of 1968 was just over 12 million while the total number of operable cotton looms was 378,000.
Among the main destinations of cotton cloth shipped from Japan last year, the United States ranked first, taking 104 million square metres, followed by Australia (93 million metres), Hong Kong (64 million metres), Indonesia (40 million metres) and Sudan (23 million metres). Chief importers of Japanese spun synthetic fibres were Hong Kong, which took 102 million square metres, Singapore (63 million metres), United States (49 million metres) and Korea (46 million metres).
On the other hand, arrivals of cotton yarn into Japan accounted for 14,771 tons, an increase of 41% on 1967, of which over 90% came from Pakistan. Imports of cotton fabric continued to rise last year, reaching more than 32 million square metres, an increase of nearly 160% over 1967.
THE MARKETS.
Only restricted operations took place in raw cotton, the markets remaining generally quiet. With the start of the holiday season when many spinning units are stopped, the offtake tended to decline. Prices for the London futures market were a little easier but activity was narrow. The Liverpool c.i.f. index continued to decline with a fall of 15 points on the week to 28.10 cents. Imports into Liverpool last week totalled 6,938 bales, the quantity afloat being 58,389 bales.
In the Manchester yarn and cloth market business was still rather scrappy. Varying reports from distributive centres did not encourage a free offtake but some replenishment needs became more pressing. Price changes in the man-made fibres market attracted much attention but the result of official inquest on spinners' margins generally has yet to be announced. A few more export purchases were mentioned with modest support in standard home trade makes.
YARN QUOTATIONS.
This Week. Week Ago. Year Ago.
American type.
6s ring tube
16s #t
24s
•
11
•
32s #T
11
36s combed ring tube
16s ring beams
d.
d.
44.50
44.50
52.00
52.00
53.50
58.50
58.50
56.00
61.00
61.00
59.00
76.50
76.50
•
58.00
58.00
57.75
66.50
66.50
64.50
70.00
70.00
69.25
20s #1
11
• Q
32s 21
11
•
Sudan type.
548 carded ring tube
86.50
86.50
58s combed
#1
99.00
99.00
38s combed hosiery (cone)
82.00
82.00
1 1 1
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