Views: 0 Author: Site Editor Publish Time: 2020-04-26 Origin: Site
A large number of orders cancelled for textiles and apparels, the influence will gradually reflect in NFY market
In early March, the COVID-19 pandemic in areas outside China developed rapidly, and many countries entered an outbreak period. In mid-March, in order to control the pandemic, many countries began to close the board, resulting in large number of China's textile and apparel export orders cancelled or postponed, especially in Europe and the America. It was a great hit on cloth and apparel enterprises, who were still producing to deliver the export orders. Moreover, China local demand was still in the recovery, and was no way to fill up the vacancy of the export orders.
That is why, when nylon filament price is already at a historically low, the cloth mills still do not restock to build stocks. High risks and low opportunities in short are the main reason for the bleak trading of nylon textile filament.
Short-term demand has shrunk sharply, and some cloth mills may reduce production. It is expected that beginning April it will clearly reflect in the consumption and purchase of NFY, which means that nylon filament mill may face a sudden drop in new orders after they have finished producing and delivering previous order by the end of March.