Sino US Trade And Cotton Textile Market Observation (7.3-7.9)

Recent news

Recently, foreign media reported that the American Chamber of Commerce and more than 40 industry associations urged the United States and China to redouble their efforts to implement the first phase of the trade agreement signed by the world's two largest economies in January. In a recent speech by the Ministry of foreign affairs, it was mentioned that the bilateral trade volume increased to US $41.2 billion in April, and China once again became the largest trading partner of the United States, and it increased to US $46.5 billion in May. U.S. companies still prefer China's big market. According to a recent survey by the American Chamber of Commerce in China, 84% of American enterprises are unwilling to leave China and 38% of them will maintain or increase their investment in China. The Sino US trade war has reduced the market value of us listed companies by 1.7 trillion US dollars. It is impractical for China and the United States to "decouple", which is of no benefit to anyone.

According to the latest customs data, in the first five months of 2020, China's cumulative export of cotton textiles and clothing was 19.7 billion US dollars, a year-on-year decrease of 33.2%, which was deeper than that from January to April. The cumulative import trade volume was 3.15 billion US dollars, a year-on-year decrease of 26.7%, and a decrease of 6 percentage points compared with the growth rate of January to April. Among them, the trade volume of China's export to the United States was 2.3 billion US dollars, and the import volume was 2006 million US dollars, which continued to slow down compared with the growth rate of export trade volume from January to April, and the growth rate of import trade volume was flat.

Cotton textile market

Recently, there has been a wave of upward trend in domestic and foreign stock markets. From the perspective of domestic cotton textile price index, some indexes show a slight upward trend. The production and sales of enterprises are stable, and the overall market is weak. From the current price index point of view, domestic and foreign cotton, cotton yarn price shocks. As of the 9th, the settlement price of the main contract of Zhengzhou cotton was 12040 yuan / ton, which rose as a whole this week; on the same day, the settlement price of cotton yarn main contract was 19440 yuan / ton, up 260 yuan / ton compared with the same period of last week; on the 8th, the settlement price of main contract of American cotton futures was 64.16 cents / pound, which increased slightly this week. On the spot, on the 9th, the cotton price index of 3128b grade was 12300 yuan / ton, slightly higher than the same period last week. The price index of c32s yarn on the same day was 18580 yuan / ton, and the price was stable this week.