According to customs statistics, my country imported 140,000 tons of cotton yarn in April 2020, a year-on-year decrease of 26.32% (China’s imports of textile yarns, fabrics and products in April were US$1.14 billion, a year-on-year decrease of 25.4%); 2019/20 Since the beginning of the year (September 2019-April 2020), my country has imported a total of 1.24 million tons of cotton yarn, a year-on-year decrease of 4.62%.
It is worth noting that in March, my country imported 192,400 tons of cotton yarn, a month-on-month increase of 37.05%, and a year-on-year increase of 0.58%. In April, both the quantity and value of cotton yarn imports fell off a cliff. Some cotton yarn trading companies in Jiangsu, Zhejiang, Guangdong and other places reported that weaving, clothing, and foreign trade companies were hardest hit by the COVID-19 epidemic in April, and gauze consumer demand declined very significantly (the domestic sales market basically stagnated in February and March; export orders were largely canceled in March Or postponed implementation, April will be a “mixed double” of domestic and foreign sales), so cotton yarn imports plummeted from 192,400 tons in March to 140,000 tons. Although it is reasonable, the drop is somewhat larger than expected.
Judging from the survey, as the COVID-19 epidemic in China, Europe, Japan and South Korea eased significantly in April/May, they all pressed the “reset button” on economy, trade, transportation, etc. Since late April Not only did domestic demand for autumn and winter orders begin to rebound, export orders postponed in March and April were activated for the second time, but a small amount of new orders from Europe, Japan and South Korea gradually arrived, and inquiries and transactions for bonded and immediate Vietnamese and Pakistani yarns at the port The market continues to pick up (including OE yarn and C16S-C32S high-quality packaged bleached yarn, but shipments of 40S and above combed yarn are still relatively sluggish). Therefore, April is a “depression” for cotton yarn imports. In May, the import volume and import amount are expected to increase. A very significant rebound.
Traders and cotton textile companies believe that in addition to the slow growth of domestic sales and violent shrinkage of export orders caused by the new crown epidemic, there are three reasons for the sharp plunge in China’s cotton yarn imports in April (China’s weaving, It will not be discussed if it is difficult for garment companies to resume work):
First, in March/April, Southeast Asian countries such as India and Pakistan successively implemented measures such as “locking down countries and provinces” to combat the epidemic. Spin mills, logistics, and ports Shipping and other operations are close to being suspended, and cotton yarn purchase contracts of Chinese companies are forced to cancel or postpone execution for 1-2 months; secondly, in April, as the cotton yarn futures price oscillated and fell (CY2009 fell from 19350 to 17815, down 1535), the spot price difference of domestic and foreign cotton yarn Narrowing, the competitiveness of imported yarn has declined; thirdly, the RMB has been depreciating in the past four months, and the lows tend to get lower and lower. Some institutions and investment banks have analyzed that the current international market is full of high uncertainties, and both active and passive acceptance of the RMB are greatly restricted, causing the RMB to form a crisis in the short term (especially if the epidemic may last for 1-2 years). A long period of time has put great pressure on the RMB. </p
