In recent years, Sino US trade has been orderly and stable. The main uncertainty factors come from some countries' influence on Global trade due to the prevention and control of the "new crown epidemic". Especially in Europe and the United States, the new crown epidemic is on the rise. Countries have adopted comprehensive preventive measures, such as reducing aggregation and closing cities, which has led to the decline of economic and business activities in various countries, especially manufacturing and service industries. The impact is greater. According to data company IHS Markit, the US composite Purchasing Managers Index (PMI) dropped from 49.6 in February to 40.5 in March after seasonally adjusted, which set the lowest record in the 10 and a half years since the index came out. In March, the comprehensive PMI in the euro area dropped from 51.6 in February to 31.4, the lowest level since July 1998 IHS Markit started the survey. (Note: the index above 50 indicates that business activity growth, less than 50 indicates commercial activity contraction. )
Cotton textile market
Judging from the domestic cotton textile market, the most prominent problem in recent market is the issue of withdrawal. Due to the impact of the new crown epidemic, manufacturing industry has been impacted by overseas key markets, consumption is insufficient and inventories are increasing. In addition, the domestic enterprises reflect that the current enterprises are slow to take orders on the one hand, on the other hand, customers demand extended delivery, which brings enormous pressure to the operation and tight capital chain.
Judging from this week's domestic and foreign cotton textile related products spot price, the price is still weak, slower than last week. 26, the cotton main contract settlement price of 10710 yuan / ton, affected by the global stock market, the two day settlement price rose, but decreased 550 yuan / ton compared with the same period last week. The settlement price of cotton yarn main contract on the same day was 18040 yuan / ton, down more than 700 yuan / ton compared with last week. On the spot market, on the 26 day, the 3128B class cotton price index was 11100 yuan / ton, a decrease of nearly 500 yuan / ton compared with the same period last week, and the yarn price index for the same day was 19600 yuan / ton, a decrease of over 400 yuan / ton compared with the same period last week, and the transmission of negative emotions in the downstream market is more obvious. In terms of US cotton futures, the settlement price of 25 days is 53.44 cents / pound, which has dropped by more than 3 cents / pound compared with the same period last week.