In recent days, the follow-up of new orders by textile companies has slowed down, and some companies have stopped accepting orders. As the Spring Festival holiday approaches, some clothing and textile companies have arranged to shut down and take holidays starting in early February. In addition, the epidemic prevention and control situation at home and abroad is severe, and the ordering time of some foreign trade companies has been postponed, which has affected the enthusiasm of textile companies to purchase raw cotton to a certain extent.
Due to the suspension of some logistics out of Xinjiang, the volume of cotton truck shipments has dropped rapidly. Since logistics from northern areas of the country to the south often require nucleic acid testing, the back-shipping cycle of some flowers, yarn, and cloth has been lengthened. Similarly, the need for disinfection and inspection of foreign cotton arrival containers also affects the delivery pace of market companies. Some cotton suppliers lack the time, financial resources, and manpower to replenish forward contract orders, so they can only seize the time to close existing inventory before the Spring Festival.
According to Johns of the United States? The latest statistics from Hopkins University show that as of 3:00 on January 27, Beijing time, the cumulative number of confirmed cases worldwide has exceeded 100 million, with 2.15 million deaths. The United States has the largest cumulative number of confirmed cases and deaths in the world, with more than 25 million confirmed cases and 420,000 deaths. Countries with a large number of cumulative confirmed cases include India, Brazil, Russia, the United Kingdom, and France. Countries with a large number of cumulative deaths include Brazil, India, Mexico, the United Kingdom, and Italy. As the Spring Festival approaches, in order to avoid external risks and concentrated outbreaks of internal epidemics, domestic inspections and testing have been intensified to strengthen epidemic prevention and control. In order to avoid risks, all parties in the cotton market have to slow down the procurement and marketing process.
According to feedback from various places, there are currently very few ginning plants in operation in Xinjiang. Some printing and dyeing companies in Guangdong and Jiangsu have stopped taking orders, accelerating the completion of the construction period, and focusing on following up on payment collection matters before the year. In addition, some companies are busy repaying loans and settling workers’ wages before the year. The atmosphere of the Spring Festival is getting stronger, the textile market is about to close, and cotton purchases and sales will gradually become lighter. </p
