1. Is it going to rise again? ! We may face a new round of freight rate increases next month! The textile boss is going to lose money again! (Popularity: ★★★★★★★★)
As we enter the post-epidemic era, the degree of epidemic blockade in various countries is different. Due to the uneven economic recovery and the strengthening of shipping companies’ dominance on the entire trade route, shippers may face a new round of freight rate increases and peak season surcharges (PSS) starting in April. For example, Hapag-Lloyd recommends a GRI of $1200/40′ from Asia to the US and Canada from 1 April, other transpacific shipping lines typically use a GRI of one month in the off-season when prices are under pressure and PSS.
2. Full of gunpowder! How much impact will the fierce confrontation between China and the United States have on China’s textile industry? (Popularity: ★★★★★★★)
According to CCTV News Client, On March 18, local time, Yang Jiechi, member of the Political Bureau of the CPC Central Committee and Director of the Office of the Central Foreign Affairs Commission, and State Councilor and Foreign Minister Wang Yi held a high-level China-U.S. strategy meeting with U.S. Secretary of State Antony Blinken and Assistant to the President for National Security Affairs Sullivan in Anchorage. dialogue.
The turbulent international situation has undoubtedly made it “even more difficult” for textile companies to receive orders. The person in charge of a foreign trade company said: “The impact of Sino-US relations on us is subtle. Yes, the impact of the epidemic has left many companies with nothing to do, but Sino-US relations cannot be ignored. Once Sino-US relations become tense, many customers will become more hesitant to place orders.
With the increasing uncertainty in Sino-US relations, factors such as the recurrence of epidemics, economic recession, reduced demand, and competition from Southeast Asian countries have made textile bosses walk on thin ice.
3. Suddenly! Another oil facility was attacked by bombs, the geopolitical situation heated up, and oil prices began to skyrocket again! (Hot: ★★★★★★)
In early trading on Monday, Brent crude oil futures stood above $70/barrel, up 1.11% on the day, a new high in a week . The Russian Satellite News Agency quoted Anadolu News Agency as reporting on March 15 that the Turkish Ministry of Defense said on the same day that Syria carried out missile attacks on two settlements in the northern part of Aleppo Province controlled by Turkey, and some people were injured. Aleppo, Syria Petroleum facilities in the province were attacked by rockets, which has once again heated up the geopolitical risks on the supply side of global oil.
4. Falling from high altitude, the price of crude oil collapsed! The market has experienced another huge shock (Hot: ★★★★★)
On Thursday, market concerns about inflation returned with a vengeance, and the United States The bond sell-off intensified again, with the 10-year U.S. Treasury yield rising above 1.7% for the first time in 14 months. The U.S. dollar index rebounded, and the three major U.S. stock indexes all ended lower, with the Nasdaq falling by more than 3%.
But the worst fall was crude oil. U.S. and Brent oil futures continued to fall to two-week lows in the evening. The U.S. price fell close to 8% during the session, and the decline further expanded to 9% after the market. WTI crude oil futures It fell below US$60 per barrel, the largest single-day drop since September last year. So far, WTI crude oil futures have fallen for five consecutive days, the longest losing streak in more than a year.
555.30 million! The list of major petrochemical projects in Jiangsu Province in 2021 has been released: at first glance, they are all polyester faucets! (Popularity: ★★★★)
Recently, the Jiangsu Provincial Development and Reform Commission announced the list of major provincial projects in 2021. This year’s list has initially scheduled 240 projects. Among them, there are 220 implementation projects and 20 reserve projects, with an annual planned investment of 553 billion yuan, an increase of 12 billion yuan from the beginning of last year.
From the list, we can initially see that there are 14 petrochemical and light textile projects involved, including Shenghong, Hengli, Tongkun, Xinfengming, and Hengyi. The shadows are basically the layout of leading polyester companies.
6. The loss has exceeded 200 million, and many Chinese-owned garment factories in Myanmar were beaten, smashed, looted and burned (Popularity: ★★★)
On the afternoon of the 14th local time, there was chaos in the Laydaya Industrial Zone in Yangon, Myanmar. A large number of rioters took to the streets. They were armed with iron bars, axes and gasoline barrels. They seemed to have certain Purposeful, when they saw Chinese companies, they started to smash, smash, loot and burn wildly, leaving the scene in a mess. According to follow-up statistics, a total of 37 Chinese companies were involved in this incident, three employees were injured, and the cumulative losses exceeded 240 million yuan. Existing photos show that the factories that were attacked were in terrible condition, and some were even completely burned down. Most of them were garment processing factories, accessories factories, and supporting equipment factories. Myanmar officials stated that the current situation is very serious.The CIA may be involved. They suspect that the CIA’s background is behind the relevant organizations, and there may be more than one mastermind behind the scenes.
7. Vietnam’s textile and apparel exports to the Eurasian Union may be subject to quotas and special defense measures (Hot: ★★)
Vietnam’s “Customs Online” reported on March 15 that the Ministry of Industry and Trade of Vietnam recently received information from the Eurasian Economic Commission (EEC) on Vietnam’s textile and apparel exports to the Eurasian Union. An official letter indicating that the preferential tariff quotas stipulated in the Free Trade Agreement between Vietnam and the Eurasian Union have been exceeded. Vietnam’s exports of tights, pullovers, buttoned jackets, and cardigans with the customs code of HS6110 to the Eurasian Union in 2020 have exceeded the import preferential quota stipulated in 2020 (reaching 1.6409 million kilograms, the quota is 1.5194 million kilograms).
Although the excess quota is not large, according to Article 2, Paragraph 10 of the Free Trade Agreement between the two parties, Vietnam’s textile and apparel exports to the Eurasian Union are subject to quota special defense measures risks of.
According to this, Vietnam’s textile and apparel will be subject to the most-favored-nation tariff rate for a period of 6 months or 9 months, depending on the actual excess of quotas.
8. The footwear and clothing industry suffered from the “sequelae of the epidemic”: it rebounded in the first quarter, but the market for the whole year remains uncertain ( Popularity:★)
The overall performance of domestic apparel listed companies has encountered Waterloo. According to incomplete statistics from a reporter from the Financial Associated Press, the performance of clothing brand companies in 2020 shows that Semir Apparel (002563.SZ) net profit fell 48% year-on-year, Souyute (002503.SZ)’s profit-to-loss ratio dropped 572% year-on-year, the highest, and Tanlu (300005.SZ)’s profit-to-loss ratio dropped by nearly 200% year-on-year. Wind data statistics show that textile and apparel includes 103 constituent stocks with existing data, showing that the average net profit in the third quarter of 2020 was a year-on-year decrease of 203%.
Domestic brands are facing obstacles, and foreign brands are not having an easy time either. Among them, Adidas’s net profit fell by nearly 78% year-on-year last year, and the performance of Fast Retailing Group (which owns “Uniqlo”, etc.) in fiscal 2020 showed that the profit attributable to the company’s owners decreased by 44.4% year-on-year. This is the result of Fast Retailing Group in 2017. For the first time since the beginning of the year, annual performance has declined. Kering Group’s 2020 financial report showed that net profit fell by 7% (of which Gucci brand operating profit fell by 33.8%). </p
