The downstream market continues to be hot

As the upstream raw material of the polyester industry chain, the price of crude oil continues to rise, and the downstream textile market continues to be hot after the Spring Festival.

From December last year, the textile market orders began to be issued in large numbers, a large part of which could not be completed in the year before and continued to the year after. Therefore, after the opening of the Spring Festival, the textile market is continuously busy.

From a micro point of view, whether it is the fabric market, grey fabric market, weaving market or printing and dyeing finishing market, the performance is very good after the year: fabric varieties such as large jacquard, nylon silk spinning, elastic fabrics continue to sell well, grey fabric enterprises continue to ship, weaving enterprises maintain a high probability of loom, order continuity is good, and there is also a queuing phenomenon in the printing and dyeing finishing market.

Macro data also show that since the beginning of this year, domestic consumer market demand has shown a significant rebound.

In terms of exports, according to the General Administration of Customs data, the cumulative textile and garment exports in January-February were 45.09 billion US dollars, an increase of 14.3%, of which textile exports were 21.71 billion US dollars, an increase of 15.5%, and clothing exports were 23.38 billion US dollars, an increase of 13.1%.

In terms of consumption, data released by the National Bureau of Statistics show that from January to February, the total retail sales of consumer goods were 8,130.7 billion yuan, up 5.5% year-on-year.

The freshly-released Qingming Festival consumption data can more intuitively reflect the strong domestic consumer market, the Ministry of Culture and Tourism released data on the 6th, according to estimates, the Qingming Festival holiday in 2024, the country's domestic tourism for 3 days, an increase of 11.5% compared with the same period in 2019; Domestic tourists spent 53.95 billion yuan, up 12.7 percent from the same period in 2019.

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