Oil Price Plummeted, Polyester Short Return To The Falling Market; Stop Production Vs Burst Orders, Textile Industry Or Meet Big Adjustment?

Market description

Zheng Mian fell back in shock, with long positions of main force and recent month contracts reduced, short positions of long month contracts increased, and negative oil prices. Market worries about the global economy intensified, and Zheng Mian may accelerate its decline. There is little change in the spot lint market, some quotations are slightly weak and concussion, domestic sales orders are weakening again, foreign trade orders are still absent, cotton textile enterprises restrict production generally, cotton consumption is poor, only some small textile enterprises meet low price. Generally speaking, cotton mills continue to purchase cautiously, terminal demand continues to be weak, downstream yarn and grey cloth inventory increases, and enterprises have some efforts to limit production The trend of cotton price is expected to be weak in the short term. We should pay attention to the change of external environment and the recovery of foreign trade after the 51 th Festival.

The price of acrylonitrile continues to be weak and volatile. The middlemen have certain expectations on the monthly balance of the factory. At present, the offer continues to be weak. There are many low-end offers in the market. The downstream users are generally enthusiastic about purchasing, and the market transaction continues to be mild. At present, the installation load of acrylonitrile plant remains relatively high. The air atmosphere does not decrease in the market, and there is no other good in the short-term. The price of acrylonitrile is expected Cases continue to be weak. The price of acrylic staple fiber remains stable, there is no other guidance on the news, the terminal demand continues to be warm, the installation load of acrylic fiber industry is less than 30%, the factory mainly digests the inventory, the transaction of acrylic fiber market is not warm and not hot, and the cost side is adjusted weakly. It is estimated that the price of short-term acrylic fiber is easy to fall but difficult to rise. Pay attention to the manufacturer's monthly statement information guide.

The total amount of force majeure certificates issued by the CCPIT was about RMB 700 million, involving RMB 690.4 billion. The main function of the proof of force majeure is to help the enterprise to keep the order and complete the contract performance as soon as possible after the conditions permit. At the same time, it also keeps a proof of Force Majeure for use in case of disputes in the future. It should be noted that the proof of the facts of force majeure does not mean that the relevant affected enterprises can be exempted from contractual liability in whole or in part under the relevant contracts. If there is a dispute between the two parties, it needs to be settled through arbitration, litigation and other judicial channels.

Jiangsu Asset Management Co., Ltd. plans to dispose of 150 creditor's rights of Wujiang mianyi Textile Co., Ltd. The debtors are located in Suzhou, Wuxi, Taizhou and other regions, and the subject-matter creditor's rights are guaranteed by "mortgage + guarantee" and "guarantee". As of the benchmark date of March 31, 2020, the principal balance of the underlying creditor's rights is RMB 2106.438 million and its related interest expenses. Within 20 working days from the date of the announcement, the above-mentioned creditor's rights shall accept the consultation and objection on the disposal of the above-mentioned creditor's rights assets, as well as the reports on rejecting, obstructing the consultation or objection and other interference with the announcement activities of asset disposal.

In 2019, the net profit of Fujian Fengzhu Textile Technology Co., Ltd. attributable to the shareholders of the listed company is 25953606.96 yuan, and the net profit of the parent company is 21123218.08 yuan. The company's profit available for distribution to shareholders in this year is 112250992.85 yuan. According to the resolution of the board of directors, the company plans to distribute profits in 2019 based on the total share capital registered on the equity registration date for equity distribution. The profit distribution plan is as follows: the company plans to distribute cash dividends of RMB 0.3 (including tax) to all shareholders for every 10 shares based on the total share capital registered on the equity registration date of equity distribution, and the remaining undistributed profits will be carried forward to the following years. In this year, no stock dividend and capital reserve conversion to share capital will be implemented. This profit distribution plan needs to be submitted to the company's 2019 annual general meeting for deliberation.

According to the general manager of the garment factory of Guangdong Yida Textile Co., Ltd., due to the outbreak of global epidemic, many customers have requested to postpone shipment and production. At present, part of the production capacity of the garment factory is urgently changing to manufacture masks. It is estimated that the highest production capacity can reach 700000-800000 masks per day. At present, Yida has received more than 10 million orders for masks. As of the middle of this month, Guangdong Yida has exported masks to many countries in Europe, America and Southeast Asia.

On April 12, Lin yuechen, general manager of Inner Mongolia Haicheng recycled Chemical Fiber Technology Co., Ltd., said in an interview: the total investment of Inner Mongolia Haicheng renewable chemical fiber 75000 tons polyester staple fiber production project is 240 million yuan, and the project is completed in two phases, the first phase is 25000 tons / year, the total investment is 105 million yuan, the second phase is 50000 tons / year, and the total investment is 135 million yuan. In addition, many textile and packaging projects will be started in January and 2022, which will not only affect the textile and packaging industry, but also be used in the textile and packaging industry.

On the morning of April 18, Ma'an street, Keqiao District, held a bank enterprise docking meeting. At the meeting, 20 Ma'an enterprises such as Haitong printing and dyeing and Nuoyi woollen textile Co., Ltd. signed strategic cooperation agreements with 8 banks including Ruifeng bank, industrial and Commercial Bank of China, with a total credit amount of 2.016 billion yuan Exhibition. In 2019, Ma'an Street will achieve an industrial output value of 106.88 billion yuan, an increase of 13.9%. Among them, the output value of printing and dyeing and chemical fiber was 68.8 billion yuan, with a year-on-year increase of 13.5%.

American plain cotton farmers' Cooperative (PCCA) believes that due to falling cotton prices and cancellation of orders from foreign factories, the US cotton planting area may be smaller than expected this year. Last week, the U.S. Department of agriculture cut its global cotton consumption forecast by 6.4%, about 7.6 million bales, which means that the global spinning loss is about 3.5 weeks, accounting for about 16% of the estimated spinning time from March to July. Meanwhile, the US cotton export forecast was lowered to 15 million bales, down 9% from the March forecast of 16.5 million bales. Cotton exports to the United States are expected to drop by 15% to the United States this year. Of the $9.5 billion bill, plus $2.5 billion in additional loans to the Agriculture Department of the United States, it is understood that $9.5 billion will be provided to the Agriculture Department of the United States (CCC) in the remaining $9.5 billion loan.

The Ministry of finance of India announced on April 9, 2020 that the import duties and health taxes of respirators (hscode: 9018 or 9019), masks (hscode: 63 or any chapter), personal protective equipment (hscode: 62 or any chapter), reagents and quarantine reagents for detection of new coronavirus (hscode: 30 or 38 or any chapter) and raw materials for manufacturing the above products (hscode: any chapter) will be exempted from import duties and health taxes. The above provisions will take effect immediately from the announcement date of April 9, and the above-mentioned tax exemption measures will be implemented until September 30, 2020.

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