Sino US Trade And Cotton Textile Market Observation (7.31-8.6)

Recent news

It is understood that according to the instructions in the text of the agreement, discussions on the first phase of the trade agreement, led by U.S. trade representative lethizer and Chinese Vice Premier Liu He, will be held on or around August 15, six months after the agreement takes effect. If the above statement is true, it means that the high-level trade talks will be held against the background of increasing tensions between China and the United States.

According to the latest customs data, in the first half of the year, China's export volume of cotton textiles and clothing was 25 billion US dollars, with a year-on-year decrease of 31.34%, with a slight decrease; the import volume was 3.77 billion US dollars, a year-on-year decrease of 25.9%, and the import decline was deepened. In the first half of the year, China's export trade volume of cotton textiles and clothing to the United States decreased by 47.1% year-on-year, and the import and export decreased by 41.6%.

Cotton textile market

Gold broke through the key $2000 mark for the first time in history on Tuesday, possibly because of the ultra-low interest rate environment in the US market, and the US is introducing more stimulus measures to protect the coronavirus hit economy, thus enhancing the attraction of safe haven gold. From the domestic cotton textile price index, affected by the external disk, cotton futures and spot prices are rising, while domestic cotton yarn futures and spot prices are weak downward. As of the 6th, the settlement price of main contract of Zhengzhou cotton was 12160 yuan / ton, an increase of 55 yuan / ton compared with the same period of last week; on the same day, the settlement price of main contract of cotton yarn was 18350 yuan / ton, down more than 800 yuan / ton compared with the same period of last week, indicating that the demand of domestic cotton yarn market continued to be weak; on the 5th, the settlement price of main contract of American cotton futures was 64.46 cents / pound, increased by 1.28 cents / pound compared with the same period of last week. On the spot, on the 6th, the price index of 3128b cotton was 12480 yuan / ton. This week, the price increased by 60 yuan / ton. On the same day, the price index of c32s yarn was 18515 yuan / ton, and the price fell by 20 yuan / ton this week.