On the evening of April 22, the Bank of China’s official website released news, explaining the business situation of Crude Oil Treasure, which has attracted much attention. When talking about the processing of the May contract of WTI crude oil futures, the Bank of China emphasized that the previous suspension of trading did not affect the rights and interests of customers. The main participants will still refer to the price of -37.63 US dollars for settlement. The bank has completed the expiration processing of the May contract in accordance with the agreement. .
In other words, users who purchased multiple orders of BOC crude oil not only lost their principal but also owed the bank a lot of money. Some people joked that , this is not only cutting the leek, but also pulling out the root of the leek.
Let’s not talk about whether Bank of China has any responsibility or whether the disposal is reasonable. A large number of people who have no knowledge of futures investment invested money in high-risk crude oil futures, which itself represents a lot of things.
No demand + no orders = production suspension and holiday
Under the influence of the new coronavirus epidemic, global demand has suffered a huge blow. As a traditional manufacturing industry, textiles have always been “walking on two legs” of domestic trade and foreign trade.
In the foreign trade market, because the United States, Italy, France and other European and American countries as China’s main exporters are still in the outbreak period of the epidemic, demand has shrunk sharply. Affected by this, starting from March, the number of textile foreign trade exports began to shrink sharply, and order cancellations and cancellations were common.
In the domestic trade market, although the domestic epidemic situation is relatively well controlled, some occasional cases still make most people afraid to go to crowded areas. Consumption. On the other hand, because raw material prices continue to fall, reaching new lows, traders lack confidence in the future market and have no intention of stocking up, resulting in domestic trade being as slow as foreign trade.
Therefore, there is insufficient demand in both domestic and foreign trade Under the double blow, orders in the textile market shrank sharply. A large number of weaving companies turned into inventory as soon as they were woven, and gray fabric inventory continued to accumulate.
43 days.
Boss Wang, the head of an Oxford cloth weaving company, said: Their inventory of gray cloth is now as high as 2 million meters, close to one month’s output, although the looms are currently only shut down. However, if inventory continues to accumulate, the operating rate will drop to half by May Day. Once the warehouse can no longer stock the gray fabric, production will be suspended for the holidays. And it’s not just their factory, most weaving companies now operate this way.
The current market is like this. There is no demand from terminals, traders cannot receive orders, and weaving companies cannot sell cloth. There is a tendency of stagnant water. And the more this happens, the more people The easier it is to get hot-headed.
Want to make quick money? It’s not that easy
Since the outbreak, many people have come up with the idea of meltblown fabrics and non-woven fabrics. WeChat groups and friends The circle is full of similar news, and the popularity is beyond people’s expectations.
Many people saw business opportunities, bought mask machines, and jumped into this industry, thinking of making quick money. However, masks are a new industry, and there are all difficulties that need to be overcome in terms of machinery, raw materials, processes, characteristics, etc. Various certificates and certification procedures are also required. Especially recently, the country’s requirements for the export of anti-epidemic supplies have increased and become more difficult. In the face of so many difficulties, it is impossible for everyone to pass smoothly.
However, because most of the newly added mask machines are from outside the industry, and the shortage of spray-dissolved cloth makes mask factories rely on the ‘circle of friends’ model to purchase, the purchasing power is limited. The superimposed release makes the relatively nervous spray cloth have been stable at 300,000-500,000 yuan. On the other hand, due to the sharp increase in mask production capacity, prices have also fallen rapidly. The price of ordinary disposable masks has dropped from the highest of 5 yuan/piece when the epidemic was raging to nearly 1.2 yuan/piece today.
Therefore, it is still unknown whether the switch to mask production will ultimately make money or lose money.
It is well known that the recent poor textile market situation, orders have almost stagnated. Some Bu bosses chose to switch careers.The circle of epidemic supplies has even more radically chosen to invest money in commodities such as crude oil, gold, and silver futures. Everyone has different choices, and there is nothing wrong with that. However, the editor here also wants to remind textile people that before investing money in areas that they do not understand, they must fully understand the risks involved, restrain their impulses, and try their best even if they cannot make money. Prevent yourself from becoming a “taker” or a “leek”.
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