Sino US Trade And Cotton Textile Market

On the 21 th of this week, the Customs Tariff Commission of the State Council announced the second batch of the first time to exclude tariff products from the US and Canada. According to reports from the United States, China has phased out the import restriction system for some commodities since the entry into force of the first stage trade agreement between China and the United States in February 14th. Meanwhile, the United States has also launched the elimination of the list of added tariffs. Trade relations are developing in a positive direction. Since the outbreak of a new coronavirus pneumonia outbreak, China has taken unprecedented measures to prevent and control it. These measures will certainly have a certain impact on the economy of the whole country. The two sides will also make active efforts to create conditions for the implementation of the first stage agreement between China and the United States.

By the end of February, with the strong support of local governments, textile enterprises across the country have resumed work and speed up. With the gradual resumption of production, the demand for replenishment is gradually emerging, and the overall start-up of the upstream and downstream businesses is imminent. Other supporting services will also be followed up immediately. According to the enterprise, the enterprises with international orders are in good condition, and the lack of domestic orders is one of the reasons why some enterprises fail to start their business or postpone their work.

Judging from the spot price trend, this week, including the United States, Japan, South Korea, including many countries, new crown confirmed cases, and then affect the global stock market continued to shake, domestic and foreign cotton futures and domestic cotton yarn futures prices continued to decline this week. 27, cotton and cotton yarn main contract settlement price were 12690 yuan / ton and 20760 yuan / ton, compared with the same period last week, the drop is close to 500 yuan / ton, the international cotton futures contract 27 days settlement price 65.13 cents / pound, compared with the same period last week dropped by nearly 4 cents / pound. This week, cotton spot prices fell, the 26 day 3128B price index was 12980 yuan / ton, compared with the same period last week dropped by about 500 yuan / ton, C32S cotton yarn price index has not dropped to 20500 yuan / ton, compared with the same period last week rose 80 yuan / ton.