Polyester, Grey Cloth And Clothing Are Not Sold. The Company Misjudged The Situation And Worked Hard To Produce Bitter Fruit: In July, The Industrial Chain Or Everywhere "High Inventory".

Entering the June, the atmosphere in the off-season became more and more thorough, and the market entered the "stagnant water" situation. The lack of bright product support and the poor performance of the market. Especially for conventional products, the fabric inventory of weaving factories has reached a high level in recent years.

According to the sample of Chinese silk net testing, the gray fabric inventory in Shengze has risen to about 43-44 days, 2-3 days higher than the same period last year, 19 days higher than the same period in 2018, which is 16 days higher than that in 2017.

　　 One of the reasons for the difficulty of weaving enterprises is that the price of polyester in the upstream is low, and it is difficult to drive the fabric to carry goods. On the other hand, the reason is the slump of terminal demand.

Polyester filament "floor price" can not be sold!

Since June, the rise of international crude oil has driven up the price of polyester raw materials, thus stimulating the price of polyester. But in recent days, the price of polyester has begun to drop. Throughout the first half of this year, the price of polyester is still declining, and the prices of all products are about 20% lower than the beginning of the year. Compared with the same period last year, it is even more miserable. Specifically, the FDY product has dropped by nearly 28% compared with the same period last year. The POY product has dropped by over 30% compared with the same period last year, while the DTY product has dropped by about 26% compared with the same period last year.

　　 According to past experience, the price rise of polyester can drive some grey cloth to carry goods, but now polyester price itself is at a low level, and the rise is also not up.

In terms of production and marketing, in general, manufacturers will have more or less stockpiling operations before the holidays. However, before the Dragon Boat Festival holiday, manufacturers' enthusiasm for replenishment is not good. In addition to the promotion of polyester manufacturers to promote the POY products clinch a deal, the rest of the products are generally shown in production and marketing, and the production and sales exceed 100 quotations for only one day, and even can be described by "reluctance".

　　 Terminal clothing "deep water", no demand!

Recently, the clothing brands announced the first quarter sales performance, and the data can not help but sigh.

Adidas: operating profit fell 93% to 65 million euros in the first quarter, and sales fell 19% to 4 billion 753 million euros (about 5 billion 320 million U.S. dollars).

Puma: sales declined by 1.3% in the first quarter after the exchange rate adjustment, to 1 billion 300 million euros (about $1 billion 400 million), and operating profit fell 50% to 71 million 200 thousand euros.

The TJX Companies, Inc: net sales in the first quarter amounted to US $4 billion 409 million, compared with us $9 billion 278 million in the same period last year. The net loss was $887 million.

Zara parent Inditex group: sales fell to 3 billion 303 million euros (US $3 billion 700 million) in the first quarter, operating loss of 508 million euros in the quarter and net loss of 409 million euros in the quarter.

More data show that Nike is in the 3-5 month of the peak of the epidemic in Europe and America, operating income fell by 4% compared with the same period last year, with a net loss of 790 million US dollars in the quarter.

The epidemic situation is still spreading abroad, and the serious loss of clothing enterprises caused by the epidemic has not stopped.

Large clothing brands are still hard to avoid losses under the impact of the epidemic, not to mention other clothing companies. At present, the domestic epidemic situation has basically been controlled, but the terminal demand is still hard to recover. For the textile industry, garment enterprises are losing money and accumulating inventory, and the demand for fabrics and grey fabrics is rapidly reduced. Last year, we have always said that the order pattern of clothing enterprises has changed to "small batch and multiple batches". But this year, clothing enterprises are experiencing unprecedented situations and even difficult to protect themselves. So, "small batch" may be difficult to sustain.

In June 24th, the International Monetary Fund (IMF) released the latest issue of the global economic outlook. IMF expects the global economy to shrink by 4.9% this year, while the data released in April will shrink by 3% and 1.9 percentage points. The economy and demand are devastated by the impact of the epidemic, coupled with the fact that the upstream polyester is hard to pull the goods market. In July, weaving factories will be in a difficult position. Continuous inventory and partial reduction will become the next main keynote.