Sino US Trade And Cotton Textile Market Observation (8.7-8.13)

On August 7, the futures prices of cotton and cotton yarn at home and abroad ushered in a wave of obvious rise, and then the price fell down and tended to be stable in the following week; in the spot market, the cotton price rose this week, and the average transaction price of reserved cotton rose, and the transaction rate was always 100%, and the cotton yarn price was relatively stable. According to enterprise feedback, the market is gradually ushering in warmth.

Key news review

According to customs statistics, in July 2020, China's export of textile yarn, fabric and products reached US $15.98 billion, up 49.98% (in RMB terms, a year-on-year increase of 54.5%); from January to July 2020, China's export of textile yarn, fabric and products reached US $90.08 billion, with a year-on-year increase of 31.3%; and from January to July of 2019, China's export of textile yarn, fabric and products reached US $68.63 billion.

On August 11, the China Cotton Association and the China Textile Import and Export Chamber of Commerce issued the joint statement on opposing the US side's issuance of the "Xinjiang supply chain business advisory notice", expressing views on the US government's continuous adoption of various political and economic means such as "Xinjiang related act", "entity list" and "withholding order" to interfere in China's internal affairs, suppress and disrupt normal economic activities in Xinjiang The significance of Xinjiang cotton and cotton textile industry to the local and even the whole world is explained.

Market price dynamics

August 7-13, cotton, cotton yarn market prices experienced a wave of ups and downs. In terms of futures, on August 7, there was an obvious price rise. On August 13, the settlement price of domestic main contract of Zheng cotton (cf2101) was 12815 yuan / ton, which was 35 yuan / ton higher than that of last Thursday; the settlement price of cotton yarn main contract (cy2101) was 19990 yuan / ton, which was 360 yuan / ton higher than that of the same period last week; on August 12, the settlement price of main contract of American Cotton Futures (ice2012) was 62.20 cents / pound, compared with last week 26 cents / pound in the same period. From the domestic spot market, on August 13, the domestic 3128b cotton price index was 12620 yuan / ton, up 140 yuan / ton compared with the same period last week; the price index of 32 cotton carding yarn was 18490 yuan / ton, decreased by 25 yuan / ton compared with the same period last week.