Sino US Trade And Cotton Textile Market

Recent news

Since 2020, China has taken the fight against the new crown disease as the primary task. The people of the whole country have made concerted efforts and achieved remarkable results. In March, the epidemic was detonating globally, thus forming a global response to the new crown epidemic situation, and the economy of some high-risk countries was also greatly affected. At the end of April, Xi Jinping attended the special summit of the leaders of the group of twenty in coping with the new crown pneumonia in Beijing and delivered an important speech entitled "joint efforts to combat epidemic diseases." Xi Jinping appealed to members of the group of twenty to take joint measures to reduce tariffs, remove barriers and unimpede trade and send strong signals to boost the morale of world economic recovery. China has once again made clear to the world the position of a big country in its foreign trade, especially in the special period. All countries should join hands to safeguard the security and stability of the global supply chain and maintain global financial stability.

According to the latest figures from the General Administration of Customs of China, the export volume of cotton textiles and clothing in the first two months of 2020 amounted to US $8 billion 360 million, down 23.8% from the same period last year, which was more than 7 percentage points lower than the export trade volume in the first two months of 2019. The import trade volume of cotton textiles and clothing was 1 billion 240 million US dollars, down 19.7% from the same period last year, compared with the decrease in import trade in the first half of 2019. Close to 20 percentage points. The volume of exports to the US decreased by 40.4% compared with the same period last year, and the volume of imports decreased by 51.7% compared with the same period last year.

Cotton textile market

From the perspective of domestic cotton textile market, the spot price of cotton and cotton yarn has jumped during the Qingming holiday this week. On the 9 day, the settlement price of cotton main contract was 11540 yuan / ton, up 790 yuan / ton compared with the same period last week, and the settlement price of cotton yarn main contract on the same day was 19015 yuan / ton, up 1265 yuan / ton compared with the same period last week. On the spot market, on the 9 day, the 3128B cotton price index was 11680 yuan / ton, an increase of 950 yuan / ton compared with the same period last week, and the yarn price index for the same day was 19215 yuan / ton, down 85 yuan / ton compared with the same period last week. US cotton futures, the 8 day main contract settlement price of 53.94 cents / pound, compared with the same period last week rose more than 5 cents / pound, mainly related to the US stock market surge during the same period.