Slow cotton shipments outside the port, stocks continue to bottom out

According to the feedback from cotton trading companies in Zhangjiagang, Qingdao and other places, since the beginning of April, domestic cotton textile mills and intermediaries have made inquiries about foreign cotton shipments, bonded cotton and customs clearance cotton, and they have been cautious in purchasing. Cotton, Indian cotton, West African cotton, and a certain amount of 2020/21 Brazilian cotton arrived in Hong Kong and entered storage, and cotton stocks in China’s main ports continued to bottom out.
From the quotations of traders, the net weight quotation of bonded Indian cotton M 1-5/32 29GPT (2020/21, including CCI round resources) on April 6-7 is concentrated at 145-148 cents/lb, bonded 2020/21 The annual Brazilian cotton M 1-1/8 28GPT net weight quotation is 148-151 cents/lb; the US cotton 31-3/31-4 36/37 28GPT net weight quotation is 149-153 cents/lb, both slightly higher than India Cotton; China’s main ports currently clear Indian cotton M 1-5/32 net weight one price is concentrated at 21800-22100 yuan / ton, lower than the Brazilian cotton M 1-1/8 quotation of 1000-1500 yuan / ton, lower than the US cotton The price of 31-3/31-4 36 is about 2,000 yuan/ton. Indian customs clearance cotton and bonded cotton are concerned by enterprises spinning 40S and below medium and low count yarns.

According to industry analysis, in addition to the high price quotations, the reasons for the slow shipment of cotton in the port include the spread of the epidemic and the upgrading of prevention and control measures in various places. , Hebei and other places, inter-provincial and regional road transportation has been greatly restricted and not smooth (some districts and counties have vehicles passing through the epidemic area, and are not allowed to go off the high-speed), and some cotton-using enterprises have delayed the progress of purchasing and picking up cotton outside the country. In addition, since February 2022, the new export orders of cotton textiles and clothing have been significantly lower than expected, which is also an important factor for OEM and export-oriented enterprises to reduce the consumption of American cotton and Brazilian cotton.

 

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Post time: Apr-15-2022