Sino US Trade And Cotton Textile Market (2.3-2.6)

In the early 2020 and Spring Festival holidays, a new outbreak of coronavirus took place in the whole country. When the whole nation focused its attention on the prevention and control of the epidemic, the Sino US trade situation also made some new progress and situations.

Trade situation

In mid January, China and the United States have formally signed the first stage economic and trade agreement, and the US side will fulfill the relevant commitments to phasing out tariffs on Chinese products in stages, and will also achieve a shift from increased tariffs to lower tariffs. In January 15th, the United States decided to increase its tariffs from 300 billion to 15% in February 15th, down from 15% to 7.5%. In January 31st, the United States announced the product exclusion notice under the eighth batch of US $200 billion plus tariff list, which excludes a total of 119 products, including 6 textile and clothing products. The 6 categories of textile and clothing products specifically excluded are:

　　 In February 6th, the Customs Tariff Commission of the State Council decided to adjust the tariff increase measures for imported goods originating in the United States of about 75 billion US dollars, that is, since February 14th, at 13 o'clock and 01 months since September 1, 2019, it has added 10% tariffs. The tax rate has been adjusted to 5%, with 5% tariff added, and the tax rate is 2.5%. It is reported that the tariff rate of China's adjustment is mainly about the enterprises and parts originating in the United States.

Market situation

From the perspective of the cotton textile market after the Spring Festival, enterprises resumed work in the early part of the year, but affected by the epidemic, the factories basically postponed the resumption of work. According to some textile enterprises in the non epidemic areas, about fifteen of the commencement started, but in Hubei, the epidemic situation was seriously affected, and the time for resuming the work could not be determined.

　　 Judging from the current price, the domestic cotton and cotton yarn futures prices fell down after the Spring Festival. The settlement price of the 6 cotton and cotton yarn main contract was 13035 yuan / ton and 20970 yuan / ton respectively, which fell by 200 yuan / ton before the Spring Festival. The spot price of cotton fell by 100 yuan / ton before the Spring Festival. The 6 day 3128B price index was 13090 yuan / ton, and the C32S cotton yarn price index changed little before the holiday. US cotton futures contract price rose slightly this week, the 6 day settlement price is 67.98 cents / pound.