Recent turnover in China Textile City

Amid COVID-19 pandemic in 2020, China local fabric mills rushed out fulfilling pre-holidays contracts in mid to early-Mar, and fresh orders were less than expected. However, in late-Mar, the market took a sudden turn for the worse with a large number of orders cancellation. In Apr, it entered the dull season ahead of time and was shrouded in pessimism, which can be reflected in the turnover in China Textile City. Total turnover in China Textile City performed weaker than that in 2019.

By Apr 14, the turnover of fabrics in Jan-Apr 2020 reached 362 million meters, less than 689 million meters in same period of 2019, down by 47.5% year-on-year. Growth rate of fabrics in Mar was slower than that in same period of last year; while that in Apr slowed down significantly, and there was a downward trend. The reason is that, due to the epidemic, the market opening time was delayed in 2020, and the market closed time was 33 days, up by 135% year-on-year. Therefore, the market trading time in 2020 is one month shorter than that in 2019. Moreover, after the China Textile City market opened, the traffic was less than half of the same period last year, and new orders were limited after the start of Chinese NY Day holidays. Plus, large-volume orders were cancelled or delayed in late-Mar. Therefore, the fabrics turnover in China Textile City declined evidently.