The Recovery Of Terminal Demand Is Slow, And The Operation In The Middle And Upper Reaches Is Difficult

Recently, the data released by the General Administration of Customs showed that in June, China's textile and garment exports amounted to US $29.03 billion, with a year-on-year increase of 17.8%; among them, the textile export volume was US $16.16 billion, with a year-on-year increase of 56.7% and a month on month decrease of 21.8%; the export volume of clothing and accessories was $12.87 billion, a decrease of 10.2% year-on-year and a growth of 44.6%. Among them, the export of textiles is still supported by protective goods. Although the export of clothing and clothing is not ideal on a year-on-year basis, it has increased month on month, reflecting the slow recovery of foreign trade demand. Due to the long chain of cotton textile industry and the disadvantage of downstream consumption, the slow progress of industrial recovery is affected. At present, the operation of middle and upper reaches enterprises still faces many difficulties.

According to the business survey of some textile enterprises, there was a wave of short-term order boom in May, and the delivery of gauze also increased rapidly. From the perspective of the source of receiving orders, domestic orders were the main ones. However, this "upsurge" does not last long. From mid to late June, the rhythm of receiving orders gradually slows down. With the gray cloth and cotton yarn inventory rebounded again, enterprise profit promotion activities put on the agenda again. Especially from this week, we can see that Zheng cotton futures is lack of action, yarn enterprises in both the lack of order support and lack of cost promotion, the price reduction range has increased, and the range of price reduction is also expanding. In less than a week, the price of some yarn varieties has been reduced by about 500 yuan / ton, and the enterprises have a strong sense of capital preservation.

The middle reaches of textile enterprises are under great pressure, and the situation of cotton enterprises in the upper reaches is the same. Cotton producers and traders all reported that the basis point price from May to June was relatively active. After the recent rise in futures prices, there were fewer and fewer inquiries. On the one hand, there are still negative factors in the market, and the industry is worried that Zheng cotton may still have a callback; on the other hand, under the situation of poor profits in various links of the market, the buyer has a strong "leakage" mentality, and it is basically difficult to sell non-specific cotton.

Under the situation that all parties in the market are faced with multiple pressures, whether in textile enterprises or cotton trading enterprises, some operators flexibly adjust their business modes, or switch from foreign trade to domestic sales, from general textiles to medical protective products, or from unilateral spot purchase and sale to current hedging. Gold nine silver ten, whether the market can change, the industry is ready to challenge, but also full of good expectations.