Cotton Accelerated Decline, Market Panic Intensified, Substantial Profit Margins Were Also No Deal, Cut Production Or Production Or Vacation?

Market brief

In March 23rd, the reserve cotton wheel was closed for trading. From December 2nd to March 20th, the total turnover of Xinjiang cotton reached 291000 tons, of which 12480 tons were accumulated in the Xinjiang warehouse, and 278520 tons in the mainland stock market. A total of 96 enterprises were auctions. As of March 20th, the cumulative average price of 13342 yuan / ton, the highest price of 14197 yuan / ton, the lowest price of 12071 yuan / ton. Seventeenth weeks (23-27 March), Xinjiang cotton entered the bid price (discount standard grade 3128B) 12450 yuan / ton, down 451 yuan / ton. It is less than 7 working days from the end of Xinjiang cotton's rotation. We should remind cotton enterprises to seize the opportunity to arrange and sell cotton.

Domestic commodity futures generally fell, Zheng cotton accelerated decline, continuation of the limit, the main contract short added positions, the transaction shrinkage, short-term concern about the performance of 10000 yuan / ton. The impact of foreign epidemic situation is increasing, textile orders have been abolished, market sentiment is pessimistic, the downstream cotton mills have declined significantly, and the turnover of base point price resources has dropped sharply. The price of resources has basically stagnated, and the atmosphere of the import cotton market has been sluggish. Some enterprises have stopped offering quotations, and the transaction has been difficult. Sufficient domestic lint demand will continue to be weak and short term cotton prices are hard to find.

The price of acrylonitrile is still weak, and the mainstream factories are closing to 8150 yuan / ton, which is beyond the expectation of some industries. At present, the intermediate business is stable, and the sales volume is mainly based on factory settlement. The overall weakness of the market is consolidated. In the medium and long term, the new installation and production plan is insufficient for the support of the supporting market, and the market bearish atmosphere continues. Be vulnerable to organize and pay attention to other factory information guidelines. The acrylic fiber market is stable, the price of raw acrylonitrile main factory monthly price is announced, the cost of acrylic fiber is insufficient, terminal demand performance is general, although the downstream price of acrylic fiber is down, but the acrylic trader's mentality is stable, and the price of the northeast big factory is stable.

The Ministry of Finance and the State Administration of Taxation issued a notice in March 17th. Since March 20, 2020, the export tax rebates of 1084 products such as porcelain sanitary ware -1.html > > Export tax rebate The rate will increase to 13%, and the export rebate rate of 380 products such as plant growth regulator will be raised to 9%. The adjustment involves a large variety of products, including some animal products, plant products, chemical products, plastics, rubber, wood, ceramics, glass, pearls, precious stones, and metal products. The original export rebate rate of these products is 6% or 9%. After adjustment, the export tax rebate rate will be raised to 13% according to 13% taxation, and the export tax rebate rate will be raised to 9% according to 9% taxation. By raising the export tax rebate rate, we can reduce the operating costs of foreign trade enterprises, ease the pressure of cash flow and promote stable foreign trade.

Recently, the general office of the Zhejiang provincial Party committee and the general office of the provincial government issued a notice on the action plan for the construction of a strong province. Among them, modern textile and fashion light industry are listed as one of the key areas. The plan points out: promoting modern textile and fashion light industry to more creative and unique design and manufacturing transformation. Break through differentiated production technology and new processing technology, promote the application of green printing and dyeing technology, and create a world-class modern textile industrial cluster. Break through energy saving and intelligent technology, and build a middle and high-end household electrical appliance production base with international influence. The development of functional and decorative smart home products has become the leading domestic high-end furniture R & D, design and production base. Improve the scale of food safety production technology.

In March 20, 2020, the customs tariff code was updated, and the tax code of masks and protective clothing was split and adjusted: 1. the original tax code No. 6307900000 (unnamed textile products) was split into 6307900010 (masks) and 6307900090 (other textile materials made of unnamed products); 2. original tax number 6210103000 (made of 56.02 or 56.03 fabrics made of chemical fibre tax items 56.02 or 56.03) was divided into: 6210103010 (chemical fiber). Protective clothing) and 6210103090 (other fabrics made of fabrics of tariff 56.02 or 56.03). After the tax code was split, a 6307900010 mask and a special tax code of 6210103010 chemical fiber protective clothing were added.

In April 1, 2020, the Ministry of industry and Commerce will formally implement the "textile bamboo fiber and bamboo pulp viscose fiber qualitative identification test method near infrared spectroscopy" textile industry standard. The standard is divided into 10 parts, including: scope, normative reference documents, terms and definitions, principles, instruments, establishment and verification of qualitative models, qualitative identification of unknown samples, result representation, updating of calibration models, and test reports. This standard adopts near infrared spectroscopy analysis technology, stipulates how to collect modeling samples, how to establish the NIR qualitative model of bamboo fiber and bamboo viscose fiber, and how to analyze and identify the unknown samples through the model, so as to realize fast and non-destructive qualitative identification of bamboo fiber and bamboo pulp viscose fiber.

The 45502 cargo train, loaded with medical cotton yarn, opened its way from YiChang East Railway Station in Hubei on the 21 morning, and joined the central European team (Wuhan) at the Wu Jiashan station in Wuhan, heading for Hamburg, Germany. The train is made up of 6 40 foot container vehicles, and the medical cotton yarns are produced by the Ogilvy medical products Limited by Share Ltd in Zhijiang. This is also the first time that "made in Yichang" has exported anti epidemic products to foreign countries after China's domestic epidemic has stabilized. Li Youdong, the logistics director responsible for the international epidemic prevention and transportation of goods and materials, said that after the train arrived in Hamburg, Germany, it would be transported to other European countries according to the contract. Later, enterprises will continue to transport more supplies through this line to support European anti epidemic.

After the outbreak of the new crown pneumonia, the main destination countries of silkworm eggs export successively broke off customs for China. With the improvement of domestic epidemic prevention and control situation, in March 19th, the first batch of 250 thousand silkworms in China successfully completed customs clearance procedures at the Weifang customs and exported to Uzbekistan. It is understood that Shandong Guang Tong silkworm breeding group is the largest silkworm production and sales enterprise in China. It exports about 500000 silkworm eggs annually, accounting for 80% of the total export volume of silkworm eggs in China, and mainly exports to Uzbekistan, Azerbaijan and Iran. In March 13th, Guang Tong silkworm breeding group received a notice from a Uzbekistan customer. The other side will arrange a special plane to return 250 thousand silkworm eggs. In order to ensure that 250 thousand orders of silkworm eggs were completed on time, the group quickly organized staff to work overtime to complete the order. At the same time, the Weifang customs immediately opened the green channel according to the specific circumstances, carried out precise quarantine, extreme speed verification and no waiting visa, and issued 48 inspection and quarantine certificates at the first time to help enterprises successfully pass customs clearance.

China's multi brand fashion group, Ningbo Taiping bird fashion dress Limited by Share Ltd announced in the evening of March 19th that the company and its subsidiaries and sun companies received a total of 55 million 931 thousand and 900 yuan from July 1, 2019 to March 18, 2020. The notice shows that, according to the relevant provisions of the accounting standards for Enterprises No. sixteenth - government grants, the above amounts are included in the current profits and losses of the company at the time of receipt, which will have a positive impact on the performance of the current company (profit and loss), and the specific accounting treatment shall be based on the results of the annual auditor's confirmation.

LVMH recently announced that it will order 40 million sanitary masks from a Chinese supplier to help France cope with the outbreak of the new crown virus pneumonia. LVMH group said in a statement on Saturday that the first batch of 10 million masks will be delivered in the next few days. The masks will be sent to the French health service center early next week and distributed to those in need. In terms of price, it is reported that the first 10 million masks order is worth 5 million euros, or about 38 million yuan. Such orders usually contain a variety of products.

The Kampuchea Development Council (CDC) has recently approved 3 investment projects with an investment of about $7 million, creating nearly 2000 jobs. According to the information released by the Kampuchea Development Council, the 3 investment projects are located in the provinces of dry La, Shi Ju and te Ben Meng Meng. They will build 2 garment garment factories and 1 yarn factories. According to the news, 3 companies approved, including MIL UNITED MANUFACTURING limited, will invest in the construction of garment factories in dry county of La La Province, with an investment of $2 million 300 thousand, creating 914 jobs. And JIN MING LI JIAN ONE Co., Ltd. will invest in the construction of yarn factory in the village of kurang Di village, the village of bang Bi Xi county, real estate province. The investment amount of the agreement is $2 million 300 thousand, which can create 180 jobs. The last company is SUZEN (CAMBODIA) INDUSTRIAL Co., Ltd., which will invest in the construction of garment factories in three Chau Fu Township, three Chau Fu County, special province, with an investment of $2 million 400 thousand and create 726 jobs.

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