RMB Appreciation Hits A New High! The Exchange Rate Rises, The Raw Materials Rise, And The Profits Of Textile Workers Are Gone!

The hottest news in the past two days is definitely the intensification of geopolitical factors. After the sound of a cannon, oil prices are king, but at the same time, the textile market has also undergone great changes.

RMB appreciation

As we all know, the appreciation of the renminbi is good for imports but not good for exports, and now, under the influence of geopolitical factors, the exchange rate of the renminbi has played its own emergency hedging function. The exchange rate of the RMB against the U.S. dollar reached a maximum of 6.3095, standing on the 6.3 mark, and the exchange rate of the offshore RMB against the U.S. dollar reached a maximum of 6.3016.

At the moment when the international crude oil has exceeded 100, the circle of friends of the major polyester factories are all exaggerating the atmosphere of price increase. Under the background of various price increases in textile and foreign trade, downstream enterprises are unable to increase the price due to the lack of orders now, and profits After being pressed again and again, the appreciation of the RMB will undoubtedly make matters worse, and the profit in foreign trade is more limited due to the price of raw materials and shipping costs.

2.Workers return to work

While the international crude oil price has soared, we have also ushered in the successive return of textile workers. Most downstream textile and weaving enterprises have resumed work intensively, and the resumption enterprises have fully invested in the production process, but orders are still missing. In addition, due to factors such as the delay in the return of migrant workers due to poor transportation, most downstream users only maintain low-level operation. According to data from China Silk Capital Network, the current operating rate in Jiangsu and Zhejiang has risen to about 64%, up 6% from last week. From the steady increase in the operating rate, we can see from the side that the situation of employees returning to work has indeed improved compared with before.

The return of employees is undoubtedly good news for enterprises, because it is not far from the traditional peak season "Golden Three" in the textile market. Although the current downstream orders are not very ideal, the market is mainly based on orders before production, and the operating rate is Even if it is not too high, it can still meet production, but once it enters the peak season, such a low start is far from enough. And recently, some companies have reported that they have received orders one after another and are preparing for the "Golden Three" peak season.