Why did cotton yarn imports plunge in October?
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- Time of issue:2022-03-31
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Why did cotton yarn imports plunge in October?
(Summary description)According to customs statistics, my country's cotton yarn imports in October 2021 will be 150,000 tons, a year-on-year decrease of 11.8% and a month-on-month decrease of 21.1%; it is very different from the "blowout" market, which increased by 5.06% month-on-month and 5.55% year-on-year in September. From January to October of this year, my country imported 1.83 million tons of cotton yarn, an increase of 18.1% year-on-year.
Why did the import volume of cotton yarn plummet suddenly in October? The industry analysis mainly includes the following factors:
First, in October, some major textile provinces in Jiangsu, Zhejiang, Shandong, Henan, and Guangdong encountered "double limit + double control". Power cuts caused weaving and clothing enterprises to reduce production and stop production, and the prosperity of imported cotton yarn shipments declined; second, Driven by the sharp rise of ICE cotton futures in September/October and the "flat take-off" of spot prices of Indian seed cotton and lint cotton, the quotations of cotton yarn cargoes and bonded US dollars from India, Pakistan, Vietnam and other origins continued to rise, and the price difference between domestic and foreign cotton yarns increased from 1,000 yuan/ton. The above has narrowed to 200-300 yuan/ton (the quotation of cotton yarn inside and outside has been "upside down" at 200-300 yuan/ton from November 18-19), and the inquiry and transaction of imported cotton yarn have quickly turned cold; The Christmas and Easter orders in Europe and the United States are coming to an end and the epidemic has been brought under control, and the middle and low-end orders are returning to the major textile countries in Southeast Asia. The impact of China's weaving, clothing and consumer terminals on imported OE yarn, C21S and below counts The demand for ring spinning is "downshifting and slowing down"; fourth, the RMB appreciated against the US dollar in October (the exchange rate hit a new high in half a year), although it is conducive to the import of cotton and cotton yarn, but it is not conducive to textile and clothing enterprises to receive export orders for textiles and clothing (Orders in the fourth quarter of 2021 and the first quarter of 2022 are not optimistic), lack of effective medium and long-term external order support, the purchase of imported yarn has been passively slowed down or even stagnated in stages.
- Categories:NEWS
- Author:
- Origin:
- Time of issue:2022-03-31
- Views:0
According to customs statistics, my country's cotton yarn imports in October 2021 will be 150,000 tons, a year-on-year decrease of 11.8% and a month-on-month decrease of 21.1%; it is very different from the "blowout" market, which increased by 5.06% month-on-month and 5.55% year-on-year in September. From January to October of this year, my country imported 1.83 million tons of cotton yarn, an increase of 18.1% year-on-year.
Why did the import volume of cotton yarn plummet suddenly in October? The industry analysis mainly includes the following factors:
First, in October, some major textile provinces in Jiangsu, Zhejiang, Shandong, Henan, and Guangdong encountered "double limit + double control". Power cuts caused weaving and clothing enterprises to reduce production and stop production, and the prosperity of imported cotton yarn shipments declined; second, Driven by the sharp rise of ICE cotton futures in September/October and the "flat take-off" of spot prices of Indian seed cotton and lint cotton, the quotations of cotton yarn cargoes and bonded US dollars from India, Pakistan, Vietnam and other origins continued to rise, and the price difference between domestic and foreign cotton yarns increased from 1,000 yuan/ton. The above has narrowed to 200-300 yuan/ton (the quotation of cotton yarn inside and outside has been "upside down" at 200-300 yuan/ton from November 18-19), and the inquiry and transaction of imported cotton yarn have quickly turned cold; The Christmas and Easter orders in Europe and the United States are coming to an end and the epidemic has been brought under control, and the middle and low-end orders are returning to the major textile countries in Southeast Asia. The impact of China's weaving, clothing and consumer terminals on imported OE yarn, C21S and below counts The demand for ring spinning is "downshifting and slowing down"; fourth, the RMB appreciated against the US dollar in October (the exchange rate hit a new high in half a year), although it is conducive to the import of cotton and cotton yarn, but it is not conducive to textile and clothing enterprises to receive export orders for textiles and clothing (Orders in the fourth quarter of 2021 and the first quarter of 2022 are not optimistic), lack of effective medium and long-term external order support, the purchase of imported yarn has been passively slowed down or even stagnated in stages.
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