It Will Fall Below The Previous Low. Can You Copy The Bottom Of Polyester? The Policy Of Sticking To Short Factories Has Been Issued, How Low Will It Be?

Overview of market

Zheng Mian's main force rose to 12200 and then fell back. The bulls reduced their positions slightly and remained in the range of 11800-12200 in the short term. The spot cotton price rose slightly, the overall purchase and sales volume was still small, and the transaction of just needed cotton was basically maintained. The local cotton kept low volume and low price operation was in the majority. The willingness of some cotton holding manufacturers to ship was still not high. In the textile off-season, the downstream demand performance was poor, and the inventory of textile enterprises' finished products was difficult to decline, which restricted the price transmission of the industrial chain. In addition, the transaction of reserve cotton was hot, and all transactions continued, The purchase and sales of commodity cotton are more suppressed, and the cold weather remains. Some operators estimate that the off-season will continue for 2-3 months, and they are cautious. It is expected that the spot cotton price in the near future will still be dominated by shock consolidation. In the medium and long term, the global cotton output will decline, and the cotton market will still be dominated by strong operation expectations.

On July 10, 8096.635 tons of sales resources were reserved for cotton rotation. The actual turnover was 8096.635 tons, with a turnover rate of 100%. The average transaction price was 11585 yuan/ton, down 54 yuan/ton from the previous day, or 12880 yuan/ton at 3128 yuan, down 128 yuan/ton from the previous day. The average transaction price of Xinjiang cotton was 11699 yuan/ton, down 80 yuan/ton compared with the previous day. The price of Xinjiang cotton was 13034 yuan/ton when it was converted to 3128 yuan, down 139 yuan/ton compared with the previous day. The increase in price of Xinjiang cotton was 1139 yuan/ton. The average transaction price of real estate cotton was 11374 yuan/ton, an increase of 24 yuan/ton compared with the previous day. The price of real estate cotton was 12594 yuan/ton when it was converted to 3128 yuan, a decrease of 74 yuan/ton compared with the previous day. The increase in price of real estate cotton was 699 yuan/ton. From July 1 to July 10, the total volume of transactions was 64445.8212 tons, with a transaction rate of 100%.

Acrylonitrile prices continued to consolidate in a weak way. In the circulation field, some intermediaries' offers were weak and volatile. There was obvious resistance to high spot prices in the market. Some businesses were cautious in their trading attitude. Downstream users were not enthusiastic in buying under the expectation of bearish. There was little news of spot transactions in the market. Most businesses sold contracts. The market was full of wait-and-see atmosphere. Acrylonitrile manufacturers also had the intention to reduce their prices, However, due to the cost pressure and controllable inventory, the price reduction is limited temporarily, and the change of plant is concerned. The price of acrylic staple fiber remains stable, the unit load of acrylic fiber factory remains relatively high, the inventory of some factories gradually accumulates, the price of raw material acrylonitrile drops, the pressure on the cost of acrylic fiber slightly eases, the start-up rate of downstream yarn factories is still not high, and the industry mainly watches the price change of raw material acrylonitrile. It is expected that the price of acrylic fiber will remain stable in the short term.

On July 7, 2020 local time in the United States, the United States Trade Representative Office (USTR) announced the product exclusion announcement under the sixth batch of US $300 billion tariff added goods list, adding 61 excluded products, including 8 categories of textile and clothing products, and modifying the customs tariff number of 27 products. Up to now, 25 textile and clothing products have been excluded from the 300 billion tax list, and the excluded products will not be subject to an additional 7.5% tariff when exported to the United States. The validity period of the excluded products listed in this announcement is from September 1, 2019 to September 1, 2020. The description and HS code of excluded textile and clothing products are as follows: 6302.10.00206304.92.00006307.90.98896307.98896307.98896307.98896307.98896307.98896307.98896307.98896307.98896307.98896506.10.6045.

On July 10, Anhui Huamao Textile Co., Ltd. submitted an application to Anqing Branch of Bank of Communications Co., Ltd. for the cancellation of stock pledge according to the agreement, and Anqing Branch of Bank of Communications applied to China Securities Depository and Clearing Shanghai Branch for the cancellation of securities pledge registration. As of the date of this announcement, the pledge of 25 million shares of Guotai Jun'an Securities Co., Ltd.'s non tradable shares pledged by the Company to Anqing Branch of Bank of Communications has been completely released. As of the date of this announcement, the company held 45.3765 million shares of Guotai Jun'an's non tradable shares, accounting for 0.51% of the company's registered capital; Among them, the company used 12.2 million shares for pledge style repurchase securities transaction (pledged to Industrial Bank Co., Ltd. Anqing Branch), with a total financing balance of 100 million yuan.

On July 10, the founding meeting of Jiangsu Textile and Clothing Vocational Education Industry Steering Committee and the meeting of all members was held in Jiangsu Engineering Vocational and Technical College. Entrusted by Jiangsu Provincial Department of Education, Jiangsu Provincial Steering Committee for Textile and Garment Vocational Education Industry is an expert organization that conducts research, consultation, guidance and services on textile and garment industry (specialty) vocational education and training for more than 30 vocational colleges, 60 secondary vocational schools and Jiangsu's trillion scale textile and garment industry. The establishment of the textile and clothing industry committee will further establish and improve the school running mechanism led by the government, guided by the industry and participated by enterprises, closely follow the new demand of high-quality development of the textile industry for talents, creatively play the role of professional committees, work departments and secretariats as a platform to promote school enterprise cooperation and integration of production and education, and promote the high-quality development of Jiangsu textile and clothing industry.

On July 8, the signing ceremony of the 96000 spindle differential fiber full-automatic intelligent spinning project was held in Changdejin City, Hunan Province. The project was invested and constructed by Hunan Jindong Cloud Textile Co., Ltd. According to Li Liangqi, the chairman of the company, the total investment of the project is planned to be about 500 million yuan, which will be carried out in two phases. When all the projects are completed and put into production, the annual sales revenue is expected to reach 800 million yuan.

On the evening of July 7, Shanghai Annuoqi Group Co., Ltd. announced that its wholly-owned subsidiary, Shandong Annuoqi Fine Chemical Co., Ltd., had recently successfully won the land use right of the plot (parcel number: 2020-39) west of Qingyuan Road and north of Yisan Road, Hekou District, Dongying City with a total price of 30.3 million yuan, And signed the Confirmation of Online Listing Transfer of State owned Construction Land Use Right in Dongying Land and Resources Trading Market with Dongying Natural Resources Bureau). Later, the company will actively sign relevant contracts, pay land transfer fees and handle land ownership certificates in accordance with relevant regulations. The Letter of Confirmation for Listing and Closing shows that Shandong Annuoqi will be used to build a project with an annual output of no less than 50000 tons of dyes and related intermediates, further strengthen the company's layout in the fine chemical industry, improve the company's overall profitability, further improve the company's position in the fine chemical industry, and will have a positive impact on the company's long-term development and corporate efficiency.

Recently, Weiqiao Textile Co., Ltd. released its performance forecast. According to its unaudited management accounts, it is expected that the group's interim performance for the six months ended June 30, 2020 will be significantly lower than that of the same period in 2019. The main reasons are as follows: In the first half of 2020, due to the negative impact of the global COVID-19 epidemic, the domestic and foreign textile markets continued to be weak, resulting in an overall decline in demand for textiles. The sales volume of the Group's cotton textile products decreased year on year, and the sales price also declined compared with the same period last year; In the first half of 2020, although the power business of the Group maintained profitability, under the impact of the epidemic, the sales volume of power decreased year on year. The announcement said that Weiqiao Textile will pay close attention to the overall industry dynamics of China's textile industry in the second half of the year, adjust the group's operating strategy in time according to the overall situation of the industry, give full play to its own characteristics and advantages, continue to make great efforts in management innovation, cost reduction and efficiency increase, R&D investment and green intelligence, and improve its competitiveness in the domestic and foreign markets.

On July 9, Uniqlo's parent company, Japan Fast Retailing Group, released its financial report, which showed that most stores were temporarily closed in the first half of the year, mainly due to the COVID-19 epidemic. As a result, all business divisions of the group recorded a sharp decline in revenue and profits. The report shows that the company had a net loss of 9.82 billion yen and a revenue of 336.41 billion yen in the third fiscal quarter as of the end of May. Uniqlo's operating profit plunged 74% in the third fiscal quarter, and its revenue fell 36%. Uniqlo's business revenue and profit in all major overseas markets declined significantly.

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