According to feedback from some cotton trading companies in Qingdao, Zhangjiagang, Shanghai and other places, since last week, except for some transactions at the port customs clearance cotton basis, foreign cotton resources quoted in US dollars such as bonded cotton and ship cargo have continued to have few inquiries and slow shipments. In the “late spring cold” state, especially the high-grade and high-index US cotton, Australian cotton, and Brazilian cotton with SM 1-5/32, SM 1-3/16 and above, the transaction is not ideal.
An international cotton merchant in Qingdao said that currently, domestic cotton textile mills and middlemen are in a very strong wait-and-see mood, and only a small number of them just need to price or bid to get goods. On the one hand, the latest export orders for cotton textiles and clothing in February and March are still small and weak, and large orders , there is an obvious shortage of mid- and long-term orders; coupled with the stricter traceability requirements of brand clothing companies and buyers such as the United States and the European Union than in the previous period, cotton companies’ demand for foreign cotton consumption is expected to continue to weaken; on the other hand, after the Spring Festival, imported cotton from the United States and Brazil The sales of cotton, Australian cotton and other cotton-spinning yarns continued to be light, and the inventory accumulation rate of yarn mills increased. Enterprises took the initiative to reduce the intensity of replenishment of foreign cotton.
Judging from the survey, the net weight quotation of Brazilian cotton M 1-1/8 (strong 28/29GPT) for customs clearance in China’s main ports on March 13-14 was 16,400-16,600 yuan/ton; the net weight quotation of M 1-5/32 was 16,700- 17,000 yuan/ton; and the net weight quotation of US cotton M 1-1/8, 31-3/41-3 37 (or M 1-5/32) for port customs clearance in 2021/22 is only 16,500-16,600 yuan/ton, 16,700 -16,900 yuan/ton. Compared with US cotton, Brazilian cotton is still not cost-effective; while the fixed price of US cotton EM M 1-1/8 and US cotton EM SM 1-5/32 (strong 29GPT) in 2022/23 The price is as high as 17,400-17,500 yuan/ton and 17,600-17,700 yuan/ton, which is higher than the 2021/22 Chen cotton quotation of 800-1,000 yuan/ton, and the price difference is significantly wider than in February.
A medium-sized textile company in Xuzhou, Jiangsu Province reported that the company’s recent small amount of foreign cotton inquiries and purchases have been concentrated on low-basis, high-profit US cotton/Indian cotton/African cotton/Mexico cotton that has been cleared at the port. It mainly spins C32S and below count cotton yarn is supplied to small and medium-sized weaving enterprises in Jiangsu, Zhejiang, Guangdong and other places (export traceability orders completed). The spinning profit is mostly 500-800 yuan/ton, but with the release of the “Gold, Three, Silver and Four” orders, 4 The monthly operating rate may be lowered.
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