Stock Code: 600987Stock Code: 600987
The rapid development of digital productivity has not only reshaped production methods, but also profoundly changed the business logic and value system of clothing enterprises.
In the first five months of 2024, China's global textile and clothing exports reached $66 billion (a decrease of 2%), with exports to the United States only reaching around $6 billion. Bangladesh's exports significantly decreased in May 2024, with a decrease of up to 16%.
In the first quarter of 2024, with the continuous release of the macroeconomic combination policy effect in China, the national economy continued to consolidate its upward trend, and the demand advantage of China's super large-scale market gradually emerged. The endogenous driving force of economic development further strengthened, and at the same time, the global economy ushered in an overall recovery. Inflation pressure in major developed economies slowed down, and the consumption demand for textile and clothing in the international market rebounded, helping China's printing and dyeing industry to achieve a good start in economic operation.
Since May, the domestic cotton market has experienced loose supply, and the downstream textile market has shown signs of off-season characteristics. Capital inflows have accelerated the downward trend of Zheng cotton. Under the expectation of weakened domestic and external demand, cotton prices continue to be under pressure, and the market may need more positive news from the supply side to overcome the downturn.