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The exchange rate of RMB against the US dollar suddenly soared! What happened?
On the afternoon of July 25, the RMB exchange rate against the US dollar rebounded significantly. As of press time, the offshore yuan rose more than 600 points to 7.2097 against the dollar during the day, and the onshore yuan rose more than 500 points to 7.2144. According to the Shanghai Securit...Read more -
International observation: At the end of the year, China’s cotton imports are insufficient
According to customs statistics, as of June, 2023/24 (2023.9-2024.6) China’s cumulative import of cotton nearly 2.9 million tons, an increase of more than 155%; Among them, from January to April 2024, China imported 1,798,700 tons of cotton, an increase of 213.1%. Some agencies, internation...Read more -
Behind the imposition of tariffs in Indonesia, a large number of textile industry closures, 13,800 people lost their jobs
Last week, some overseas media reported that as Indonesia’s textile industry failed to compete with low-priced imports, textile factories were closing down and laying off workers. For this reason, the Indonesian government announced plans to impose tariffs on imported textiles to protect th...Read more -
Imported cotton: the US dollar resource base difference is strong, and the cotton price inside and outside is hanging and expanding
According to the feedback of some cotton trading enterprises in Zhangjiagang, Qingdao and other places, driven by the bottom rebound of ICE cotton futures since May 15 and the recent thunderstorms in the southwest cotton region and the Southeast cotton region of the United States, the sowing work...Read more -
Burst! Mexico imposes temporary tariffs on 544 items, up to 50%! With immediate effect
On April 22, local time, Mexican President Lopez Obrador signed a decree imposing temporary import duties of 5% to 50% on 544 goods such as steel, aluminum, textiles, clothing, footwear, wood, plastics and their products. The decree came into effect on April 23 and is valid for two years. ...Read more -
Cotton use set to hit lowest in more than 100 years U.S. cotton mill closures are accelerating
According to foreign news on April 1, analyst IlenaPeng said that US manufacturers’ demand for cotton is relentless and accelerating. At the time of the Chicago World’s Fair (1893), nearly 900 cotton mills were operating in the United States. But the NationalCottonCouncil expects that...Read more -
Cotton use set to hit lowest in more than 100 years U.S. cotton mill closures are accelerating
According to foreign news on April 1, analyst IlenaPeng said that US manufacturers’ demand for cotton is relentless and accelerating. At the time of the Chicago World’s Fair (1893), nearly 900 cotton mills were operating in the United States. But the NationalCottonCouncil expects that...Read more -
Uniqlo disclosed that 50 stores will be closed in China this year, and e-commerce will be another major entry point
Takeshi Okazaki, chief financial officer of Japanese clothing giant Fast Retailing (Fast Retailing Group), said in an interview with the Japanese Economic News earlier that it would adjust the store strategy of its flagship brand Uniqlo in the Chinese market. Okazaki said the company’s goal...Read more -
Long staple cotton: India cancels import tariffs and prices fall against the market
Recently, the Federal Government of India has completely waived tariffs on imports of ultra-long staple cotton, according to the notice, reducing the import tax on “cotton, not coarsely carded or combed, and the fixed length of the fiber exceeds 32 mm” to zero. A senior executive of a...Read more -
Shipping price pressure! SCFI lost six straight
The post-holiday market has been plagued by a low season, a significant shortage of cargo, and at the same time, overcapacity and increased competition have combined to suppress freight rates. The latest edition of the Shanghai export container Freight Index (SCFI) fell again by 2.28% to 1732.57 ...Read more -
Australia raises its cotton production forecast
The latest report from the Australian Industry Research Institute said that 2023/2024 cotton production in Australia is expected to be close to 4.9 million bales, up from the 4.7 million bales forecast at the end of February, mainly due to higher irrigation yields in the main cotton producing are...Read more -
Heavy congestion! Maersk warning: Port delays, docks waiting 22-28 days!
In recent months, the growing tension in the Red Sea has led many international shipping companies to adjust their route strategies, choosing to abandon the riskier Red Sea route and instead choose to go around the Cape of Good Hope in the southwestern tip of the African continent. This shift is ...Read more -
The United States is expected to take the initiative to replenish inventory, can pull how much “Chinese exports”? Can textile and apparel benefit?
The current US inventory growth rate is at a historic low, and the first quarter of 2024 is expected to enter active replenishment. The United States has entered the replenishment stage, how much is the driving role of China’s exports? Zhou Mi, a researcher at the Academy of Internat...Read more -
Add the money! Increase! Two of the world’s most important shipping lanes, issued new regulations! Freight is going up again?
The Suez and Panama Canals, two of the world’s most important shipping arteries, have issued new rules. How will the new rules affect shipping? Panama Canal to increase daily traffic On the 11th local time, the Panama Canal Authority announced that it will adjust the daily number of vessel...Read more -
Shanghai Jingqingrong, a Chinese supplier to Uniqlo and H&M, has opened its first overseas factory in Spain
Chinese textile company Shanghai Jingqingrong Garment Co LTD will open its first overseas factory in Catalonia, Spain. It is reported that the company will invest 3 million euros in the project and create about 30 jobs. The Government of Catalonia will support the project through ACCIO-Catalonia ...Read more -
Imported cotton: Holiday ICE upstream traders hold goods and sell
Although the Spring Festival holiday Chinese enterprises signed a significant slowdown in cargo/bonded cotton, USDA Outlook Forum forecast 2024 US cotton planting area and production increased significantly, February 2 to February 8 2023/24 US cotton swab export volume continued to decline sharpl...Read more -
Cross-border e-commerce has accelerated the pace of Chinese products going overseas
Not long ago, a set of data released by South Korea’s statistical department caused wide concern: in 2023, South Korea’s imports from China’s cross-border e-commerce surged by 121.2% year-on-year. For the first time, China has surpassed the United States to become the largest so...Read more -
International observation: ICE experienced a “roller coaster” cotton enterprises to increase orders
Since late February, ICE cotton futures have experienced a wave of “roller coaster” market, the main May contract soared from 90.84 cents/pound to the highest intraday level of 103.80 cents/pound, a new high since September 2, 2022, in recent trading days and opened a diving pattern, ...Read more -
The “best value for money” doesn’t work either? Middle and high-end “Tao department women’s first share” last year’s net profit fell nearly 50%
Rihe Junmei Co., LTD. (hereinafter referred to as “Junmei Shares”) released a performance notice on January 26, the company expects that the net profit attributable to shareholders of listed companies during the reporting period is 81.21 million yuan to 90.45 million yuan, down 46% to...Read more -
Full of variables 2024! Five factors affect the trend of freight rates
At the end of 2023, the trend of container freight rates staged a thrilling reversal. From the downturn in demand and weak freight rates at the beginning of the year, to the news that routes and airlines have been losing money, the entire market seems to be in a downturn. However, since December,...Read more
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