New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the 7,800 bales of North Island wool on offer this week saw a 92 percent clearance with a firm market for the finer Crossbred wools and lower levels for the Coarser sector. The weighted indicator for the main trading currencies was 1.63 percent stronger than the last sale on 6th December which accounted for the lower levels however in foreign currency terms the market was generally very firm. Co

MEG nominations for December spanned in the range of US$1,200-1,220 a ton. Sellers will be keen to liquidate early next month and the second half may see some rebounding. Purified terephthalic acid prices will tend to rise to cover the increased cost of paraxylene in the last two weeks of November and also helped by tight spot supply which will continue to lift market sentiment. Some Chinese buyers may seek spot CFR cargoes outside the country rather than procuring domestic supply. Activity in

In Europe, December ethylene contract price was settled at Euro 1,275 a ton FD, rolling over from November. November spot had closed the week In spot, assessed at Euro1,080-1,085 a ton while the CIF NWE numbers were at US$1,200-1,205 a ton. Spot ethylene prices in Northwest Europe are likely to soften with the easing of naphtha cost and poor downstream demand. Meanwhile, US ethylene spot price will remain flat to marginally up as turnarounds were complete and expectations of supply to resume wil

Current spot prices for benzene suggest that prices will remain in the range of US$1,300-1,400 a ton until February 2013, but market fundamentals imply prices will remain closer to US$1,100 a ton mark. In December benzene markets in Asia may end up as market participants will seek prompt cargoes to cover immediate needs in the first half of the month. However, month- end will see some decline due to weaker buying sentiment due to holidays. After falling for two consecutive months, caprolactum

US benzene market will structurally remain short and given that the derivative markets are weak and inventories rising, with the financial year0end on the horizon and underlying hydrocarbon prices softening, there is a strong case for believing that benzene prices will correct in the short term. In Europe, export prices for caprolactum from East Europe to Asian markets were at US$2,180-2,220 a ton and deals largely concluded at around US$2,200 a ton. This will change as negotiation for November

Cotton prices will hold stable in December, as harvesting is now well under way in the northern hemisphere and the expectation is that global ending stock will be higher than earlier predictions. But there does not appear to be significant pressure on prices. This is to a large extent result of China taking an active role in both its domestic market and as buyer in the international market. Chinese purcheases are also supporting the market for cotton yarn, and spinners throughout Asia report the

Piles of clothes are seen alongside sewing machines in the Tazreen Fashions garment factory, where 112 workers died in a devastating fire last month, in Savar November 30, 2012. Credit: Reuters/Andrew Biraj A factory fire that killed more than 100 garment workers in Bangladesh has led the world's largest retailer, Wal-Mart Stores Inc, to concede that it needs to do more to control its supply chain and keep unauthorized manufacturers out, reports Jessica Wohl of Reuters in Chicago, USA.

Christmas shoppers stand to be taken by surprise this month as campaigners take action in shopping centers around Europe to raise awareness of poverty wages of Cambodian garment workers. With these 'fashion mobs', they pressure H&M, Inditex (Zara), Levi’s and Gap to introduce a living wage in Cambodia. Shoppers and brands will be surprised by Christmas street actions and undercover awareness mobs. The fashion mobs take place in at least 10 countries all over Europe, among them Switzerland

Five new measures will be proposed at Friday's meeting of the committee on alleviating the impact of the nationwide Bt300 minimum wage, which is chaired by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong. The measures include hotel and accommodation fee discounts for small and medium-sized enterprises (SMEs); labour-skills development mobile clinics; an increase in the expense allowance for seminars; and the arrangement of low-priced product caravans for workers at business estab