Sino US Trade And Market Observation (4.17-4.23)

Recent news:

This week, an unprecedented slump in US crude oil futures led to discussions in the industry. At present, the new crown has cut global fuel demand, and the storage space for unused oil is rapidly filling, especially in the US, which is one of the reasons for the collapse of crude oil futures. In addition to the decline in demand for crude oil, other consumer demand for clothing retail, catering, entertainment and tourism is also shrinking. The US media said that because of people's home segregation and business shutdown, incomes fell sharply, and even companies began to lay off workers. The government needed to provide more medical insurance and other services to fight against the new crown virus. Public sector layoffs and wage cuts are coming. China, from the perspective of the textile industry, has seen some large enterprises shutting down some factories since mid April, and the market order situation is not optimistic.

Cotton textile market:

Judging from the domestic cotton textile market, the spot price of cotton and cotton yarn is down this week. 23, the cotton main contract settlement price of 11376 yuan / ton, the lowest settlement price this week (22 days for 11105 yuan / ton) than the highest settlement price fell more than 300 yuan / ton; 23 cotton yarn main contract settlement price of 18616 yuan / ton, the lowest settlement price this week (22 days 18210 yuan / ton) than the highest settlement price of this week 600 yuan / ton. On the spot market, on the 23 day, the 3128B class cotton price index was 11710 yuan / ton, which picked up slightly on that day, after three days of continuous decline, a decrease of 500 yuan / ton. The 23 day yarn price index was 19100 yuan / ton, which continued downward this week. US cotton futures, the 22 day main contract settlement price of 56.14 cents / pound, compared with the previous day settlement price growth of nearly 3 cents / pound.