AkzoNobel, a leading global paints and coatings company, has announced its intention to close its manufacturing sites in Groot-Ammers (The Netherlands), Cork (Ireland), and Lusaka (Zambia). Production from these sites will be transferred to other locations within the respective regions. This decision marks the beginning of a comprehensive, multi-year industrial efficiency plan, which is set to be completed by the end of 2026.
In the realm of commodity trading, ICE cotton witnessed a second consecutive trading session of gains on Thursday, propelled by a myriad of factors including short covering, weather anxieties in key producing regions like the US and Brazil, and a moderately encouraging export sales report. However, despite these positive developments, external influences continued to cast a shadow over the cotton market.
The intricate dynamics of the textile industry are once again under scrutiny as the price spread between cotton and cotton yarn widens, casting a shadow over the profitability of mainland spinners in China. This shift marks a new phase of fluctuation in the market, prompting concerns and strategic adjustments among industry players.
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