The textile and clothing epidemic in Jiangsu and Zhejiang has a great impact, and raw materials in Shandong and Hebei are in short supply
According to a notice from the National Health Commission, from 0:00 to 24:00 on March 14, 31 provinces (autonomous regions, municipalities directly under the Central Government) and the Xinjiang Production and Construction Corps reported 3,602 new confirmed cases, of which 3,507 were local cases. , there were 1,768 new asymptomatic infections, including 121 imported cases and 1,647 local cases. In recent days, the epidemic has rebounded to more than 1,000 cases in some areas and confirmed cases have appeared in most provinces in China. Many places have prompted that the demand for “foreign prevention of imported cases and domestic prevention of rebound” will be further strengthened. In order to avoid the risk of the epidemic, some textile companies and markets immediately suspended production and markets.
From the perspective of the distribution of the textile market, the recent epidemic has had a relatively large impact on South China and East China. Some textile and clothing trading markets in Jiangsu and Zhejiang are closed for holidays. After some brand stores resumed work during the Spring Festival, order shipments have not fully resumed and were forced to close again. ; Important chemical fiber yarn distribution markets such as Changzhou, Yangzhou and other places also require nucleic acid testing for all employees, putting corporate production and sales under pressure. However, some yarn mills in Shandong, Hebei and other places have the intention to sell cotton yarn at a higher price due to the increased difficulty in procuring Xinjiang cotton and the tight supply of raw materials. In addition, the sterilization and testing procedures for imported cotton transshipped inland at ports in Qingdao have increased, forcing some cotton-related companies to lower their basis to attract textile companies to purchase. According to feedback from port cotton merchants, last week the basis difference of some high-quality US cotton against Zheng cotton’s May contract was 2,400-2,900 yuan/ton. This week, the supply basis difference mostly dropped to 2,100-2,600 yuan/ton. Different from the performance of ordinary textile enterprises, there are also some large-scale export enterprises that have recently concentrated on purchasing raw materials nearby through basis price differences to avoid the expansion of the impact of the subsequent epidemic and the impact on normal orders. Delivery makes an impact.
In addition, the situation in Russia and Ukraine has eased recently, and crude oil prices have fallen significantly. At the same time, there is news that the Federal Reserve will hold a meeting and is likely to announce an increase in interest rates at 2 pm Eastern Time on Wednesday as a means to combat inflation. If the Federal Reserve is sure to raise interest rates, it may once again add pressure to the current complex market, or deepen conflicts among different trading groups.
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