On June 5th -11, the spot market price basically maintained the level of the previous week, and the whole was relatively stable. The domestic market continues to warm up, and the international epidemic continues to ferment. Although many countries have announced the resumption of the economy, the recovery of foreign trade orders takes time.

Review of important news

According to the June 7th statistics bulletin of the General Administration of customs, the total export volume of textiles and clothing in the 1-5 months of this year was 96 billion 160 million US dollars, down 1.17% from the same period last year (2.16% yuan in the same period last year), a decrease of 8.8 percentage points over the first four months of the previous year (9.58 percentage points faster than the RMB). Among them, the total export of textiles was 57 billion 950 million US dollars, an increase of 21.3% over the same period (25.5% yuan over the same period last year), and clothing exports totaled 38 billion 210 million US dollars, down 22.8% compared with the same period last year (20.3% in the year before RMB).

In June 8, 2020, the United States Trade Representative Office (USTR) announced the fifth batch of products under the list of $300 billion plus tariff products, excluding 34 products, including 8 categories of textile and clothing products (completely excluded). The excluded products will no longer be subject to a 7.5% tariff when they export to the United States. The products listed in the notice are valid for the period from September 1, 2019 to September 1, 2020.

Market price dynamics

June 5th -11, the spot market price is basically stable. Futures market, domestic cotton main contract (CF2009) June 11th settlement price of 11975 yuan / ton, compared with last Thursday's settlement price rose 215 yuan / ton; American Cotton Futures (ICE2012), June 10th settlement price of 60.32 cents / pound, compared with the previous week rose about 0.5 cents / pound; Zhengzhou cotton yarn main contract (CY2009) June 11th settlement price of 19500 yuan / ton, compared with the same period rose 115 yuan / ton. From the domestic spot market, in June 11th, the domestic 3128B cotton price index was 12220 yuan / ton, an increase of about 150 yuan / ton compared with the previous week, and the price index of pure cotton 32 carded yarn is 18700 yuan / ton, which is more stable.