Sino US Trade And Cotton Textile Market Observation (6.12-6.18)

Recent news

This week, Yang Jiechi, director of the Political Bureau of the CPC Central Committee and director of the office of the Central Foreign Affairs Committee, held talks with Secretary of state Cong Pao in Hawaii. The two sides exchanged in-depth views on Sino US relations and international and regional issues of common interest. The two sides agreed to take actions to seriously implement the consensus reached by the heads of state of the two countries. The two sides agreed to continue to maintain contacts and communication.

In 2020, the new crown outbreak broke out in the world. Under such circumstances, Sino US relations also showed multiple tensions. Data released by the National Bureau of statistics on 15 may show that in May, China's main domestic economic indicators continued to improve, and the economy continued to recover. "China looks likely to become the biggest engine of global GDP growth in 2020 and 2021," said Alan, President of the National Committee of the US China trade. I hope American companies can benefit from it. The Commerce Department announced the new regulation on the 15 day, amended the ban on business dealings between American enterprises and HUAWEI, allowing us enterprises to cooperate with HUAWEI on 5G standard setting. The US Department of transport announced on the 15 th that China and the United States will allow the two sides to operate four passenger flights a week, two times the upper limit set earlier this month. For enterprises in various countries, China's stable policy environment, strong supply chain, flexible development space and vast Chinese market will undoubtedly increase the weight of China in their minds.

Cotton textile market

This week, the overall production and sale of domestic cotton textiles is still weak and orders are not enough. Judging from the current price index, domestic and foreign prices of cotton and cotton yarn are weak. As of 18 days, the settlement price of zhengmian's main contract was 11865 yuan / ton, 110 yuan lower than that of the same period last week. On the same day, the settlement price of cotton yarn main contract was 19240 yuan / ton, down 260 yuan / ton compared with the same period last week. On the 17 day, the settlement price of the main contract of the US cotton futures contract was 60 cents / pound, and the settlement price basically stabilized this week. On the spot, 18, cotton 3128B cotton price index 12275 yuan / ton, compared with the same period last week prices rose 55 yuan / ton, on the same day, C32S yarn price index is 18650 yuan / ton, this week price slightly downward.