First, market concern crept in

Russian President Vladimir Putin signed two decrees recognizing "he “Lugansk People' s Republic" and "Donetsk People's Republic" as independent and sovereign states. Putin also inked the Treaty of Friendship, Cooperation and Mutual Assistance between Russia and the LPR and the DPR respectively with the heads of the two "republics". At present, the risk of conflict between Russia and Ukraine has also escalated sharply, with market worries about the global economic recession and exports rising. Downstream fabric mills who worry about the decline in raw material prices, hold a wait-and-see stance, and reacted with caution, so new orders are limited and the overall shipment is significantly lower than the same period in previous years