NEWS

Epidemic report
According to real-time statistics from Worldometers, as of 05:46 on November 5th, Beijing time, there were 48.34 million confirmed cases of the new coronavirus worldwide, 500,571 new cases, 1.22 million deaths, and 9,045 new cases. There are 51 countries with more than 100,000 confirmed cases worldwide. In addition, more than 90,000 confirmed cases have been confirmed in Armenia, Ethiopia, Honduras, Jordan and Venezuela. As of 05:45 on November 5, Beijing time, the number of confirmed cases of the new coronavirus in the United States reached 9.77 million, with 77655 new cases.

Domestic focus
1) China Textile City: Autumn and winter polyester and viscose wool-like transactions increased month-on-month
Recently, customers from the north and south of the fabric market in the traditional market of China Textile City have been actively subscribing to the market. Some front-shop and back-factory cloth companies and large-scale charter aircraft have shown their marketing advantages. Autumn and winter T/R polyester and viscose wool-like transactions have increased month-on-month. Liaoning Haicheng Xiliu Market and Guangdong Puning Liusha, Shantou, Chaoyang Chen stores have seen a month-on-month increase in shipment volumes and batches, while Guangdongxiqiao Textile City, Guangdong Shenzhen, Hebei Shijiazhuang, and Shandong Zibo Zhoucun have also increased shipment volumes . Up to now, spot transactions and order delivery of imitation wool in autumn and winter have been partially smooth, but some small and medium-sized business households still have relatively insufficient transactions. Spot prices were basically stable, and some new-style creative fabrics were slightly boosted.
2) Polyester filaments fluctuated, and weaving companies began to accumulate
On November 4, the production and sales of polyester yarns rose slightly compared with the previous day. Due to the fluctuation of raw materials, local production and sales pushed up due to the buying up sentiment. However, most downstreams have moderately replenished their positions in the early period and maintained their status. As of 4 pm, the average production and sales of factories were About 70%, an increase of 12.9%, the higher production and sales reached 150%, and the difference between production and sales was clearly differentiated. Most companies produced and sold between 30% and 50%. On November 3, the weaving inventory of grey fabrics was more than 40 days. Recently, the willingness to trade has been sluggish, and some manufacturers have been unable to balance production and sales, and they have begun to accumulate inventory.
3) The official opening of the CIIE will boost global economic recovery
The 3rd China International Import Expo was held as scheduled in Shanghai from November 5-10. It is the only large-scale international exhibition that will be held globally in the second half of 2021. With a total construction area of ​​nearly 1.5 million square meters, the Expo is currently the largest single building and exhibition complex in the world. As one of the important measures taken by China to actively open its market to the world, the CIIE has become an important platform for global manufacturers and exporters to explore the Chinese market. It plays an important role in promoting international procurement and investment.

Global focus
1) U.S. oil inventories fell sharply, oil prices rose on Wednesday, and the election deadlock restricted upward movement
The sharp drop in US crude oil inventories is expected to provide strong support for oil prices. At the same time, it responds to Monday’s strong PMI manufacturing data, indicating that the market is recovering. At the same time, many OPEC countries have put forward production cuts to boost their confidence in the balance of supply and demand. However, the current U.S. election is deadlocked. Trump’s misjudgment of victory has made the market outlook confusing. Despite this, international oil prices recorded three consecutive positives on Wednesday supported by strong data. US WTI crude oil December futures closed up 1.49 US dollars, or 3.95%, to 39.15 US dollars per barrel; Brent crude oil January futures closed up 1.52 US dollars. An increase of 3.83%, reported 41.23 US dollars / barrel.
2) US election: Biden will win if he wins Nevada
According to the real-time broadcast of the US general election, as of 9 o’clock on the 5th Beijing time, after Biden successively won Wisconsin and Michigan, the US Democratic presidential candidate Biden has received 264 electoral votes, and Trump temporarily awarded 214 electoral votes. The votes are behind. At present, Trump has filed lawsuits in the courts of Michigan and Pennsylvania, which makes the market worried that it will turn into a protracted tug of war or the so-called “controversial election.” If Biden wins Nevada (6 electoral votes), this will be enough for him to win the presidential candidate with 270 votes to enter the White House. Trump must win Pennsylvania, Georgia, North Carolina and Nevada at the same time to win.
3) Once in a century, Japanese clothing giant RENOWN filed for bankruptcy
According to the news from Kyodo News on November 2nd, the RENOWN clothing giant, which has been operating for a hundred years, will officially initiate bankruptcy proceedings! It is reported that the company has a total debt of 13.8 billion yen (approximately 915 million yuan), making it the first listed company in Japan to declare bankruptcy in 2021. It is reported that the company has applied for the implementation of the “Civil Recycling Law” in order to focus on development. But since then, the company has not looked to take over the sponsorship business of the entire company, but embarked on bankruptcy proceedings. According to reports, RENOWN’s business bankruptcy was mainly blamed on the new crown epidemic which led to the company’s continued sluggish performance.
4) Hungary announced the implementation of anti-epidemic measures, and the United Kingdom initiated a second nationwide blockade today
According to Reuters, in order to curb the spread of the new crown virus, on the evening of the 3rd local time, the Prime Minister of Hungary stated that in order to curb the spread of the new crown virus, he has announced a curfew in Hungary and bars and other entertainment facilities will be closed. On the 4th local time, the lower house of the British parliament voted on the government’s second national blockade and restrictive measures proposed on October 31, and finally passed the bill with 516 votes in favor and 38 votes against it.