1. The central media named H&M on the verge of committing suicide. Netizens: Boycott! (Popularity: ★★★★★★★★)
On the 24th, the Swedish clothing brand H&M published a statement on its official website on Weibo It was widely circulated on the Internet and caused anger among Chinese netizens. This titled “H&M Group’s Statement on Due Diligence in Xinjiang” stated that H&M Group is “deeply concerned” about reports from civil society organizations and media reports, including “forced labor” and “religious” ethnic minorities in the Xinjiang Uyghur Autonomous Region. discrimination” allegation. The statement stated that H&M does not cooperate with any clothing manufacturing factory located in Xinjiang, nor does it purchase products/raw materials from the region.
The Communist Youth League posted on Weibo: “While spreading rumors to boycott Xinjiang cotton, you also want to make money in China? Wishful thinking!” Since then, e-commerce platforms such as Taobao, JD.com, and Pinduoduo have been removed from the shelves. H&M related products. Xiaomi, Huawei, vivo, Tencent and other mobile app stores have removed the H&M Mall App.
2. The grounding of giant freighters blocks the “arteries” of international trade (Hot: ★★★★★★★)
On March 23, the ultra-large container ship accidentally hit the bottom and ran aground, causing the Suez Canal in Egypt to be blocked. As one of the busiest shipping lanes in the world, the Suez Canal connects the Mediterranean Sea and the Red Sea. It is located at the intersection of Europe, Asia and Africa. About 12% of world trade is transported through here. After the accident occurred, it was equivalent to the “precise” cutting off of the Asia-Europe shipping artery, which directly affected the global shipping and bulk commodity trading industries.
Affected by this, the price of U.S. WTI crude oil futures rose sharply by 5.37% that day, reaching a maximum of $61.34/barrel, while the price of Brent crude oil futures also rose sharply by 6.06%, with a maximum of $61.34/barrel. to $64.39/barrel. The price of domestic crude oil futures 2105 contract once rose sharply by 3.5% to 395 yuan/barrel.
3. Saudi Arabia was attacked again, and oil prices soared instantly! (Popularity: ★★★★★★)
On the 26th local time, the Houthis in Yemen The armed forces claimed to have launched an attack on Saudi Arabia on the 25th, targeting Saudi Arabia’s energy and military bases. Reuters reported on the 26th that the Houthi armed forces in Yemen claimed that they used 12 drones and 8 ballistic missiles to attack Saudi Aramco’s oil facilities in Ras Tanura, Rabigh, Yanbu and Jizan. In response, the Saudi Ministry of Defense stated that the petroleum products distribution station in Jizan was attacked by Yemeni Houthi armed forces, and Saudi Arabia will take deterrent actions to protect oil exports.
After the news of the bombing came out, international oil prices continued to rise. WTI crude oil futures soared by more than 3% during the day, standing above 60 US dollars per barrel; Brent crude oil futures also rose sharply. rose more than 3%.
4. Polyester filament exports surged: a year-on-year increase of 46.36%! (Popularity: ★★★★★)
According to customs data, my country’s total polyester filament production from January to February 2021 The export volume was 531,300 tons, the average export price was US$1,138.19/ton, and the export volume was +24.06% year-on-year. Compared with the same period in 2019, polyester filament export growth rates in January and February were 15% and 42% respectively. The top ten trading countries in export volume accounted for 74.96% of the total export volume, mainly concentrated in Asia and some in North and South America. The export situation is good.
5. Affected by news related to H&M, the textile and apparel sector was among the top gainers! (Popularity: ★★★★)
In early trading on March 25, the textile and clothing, agricultural planting, Xinjiang state-owned enterprise reform and other sectors were among the top gainers. Specifically, Xinjiang’s state-owned enterprise reform sector has experienced gratifying gains. As of 9:37 that day, Xinnong Development rose by 10.03%, and Xinsai shares rose by 9.94%. In addition, Guannong Shares, Xinjiang Communications Construction, Xinjiang Tianye, Western Animal Husbandry, and Zhongtai Chemical increased significantly. In the textile and apparel sector, as of 9:51 that day, Nanshan Zhishang, Xingye Technology, Ribo Fashion, Meibang Apparel, Huamao Shares, and Xinhe Shares all rose by more than 10%.
6. China takes the lead in ratifying the RCEP agreement, and low and zero tariffs on textiles may bring the biggest dividends (Hot: ★★★)
The head of the International Department of the Ministry of Commerce said on the 22nd that at present, China has completed the approval of the Regional Comprehensive Economic Partnership Agreement, also known as the RCEP Agreement, and has become the first country to ratify the agreement. . All RCEP member states have stated that they will ratify the agreement before the end of this year and promote the agreement to enter into force on January 1 next year. Once the RECP agreement comes into effect, it will also have a profound impact on our textile industry.
7. China buys 84.92 million tons of raw materials a year�! Saudi Arabia promises: Priority in supplying energy to China in the next 50 years (Popularity: ★★)
According to the “Industry News” website 3 According to the latest report on March 22, the world-renowned energy giant Saudi Aramco made a commitment at the China Development Forum held on March 21. As the world is in a period of parallel operation of new energy and traditional energy, the group will continue to grow in the next 50 years and even beyond. In the long term, “ensuring China’s energy security” will be regarded as its highest priority. The above words of Saudi Aramco simply mean that in the next 50 years or even longer, Saudi Aramco will actively maintain energy cooperation with China and ensure energy supply to China.
8. Urgent! Large areas were paralyzed, goods were stranded at ports, and textile bosses frequently encountered “loss-making transactions”! (Popularity: ★)
Due to large-scale protests in Myanmar, shipping companies have suspended operations at Myanmar ports, which has suppressed physical trade activities, caused container transportation delays, and significantly reduced imports. . Street protests have put pressure on the logistics industry, with container trucks halted and container cargo stranded at ports. </p
