According to feedback from cotton traders and weaving companies in coastal areas such as Guangdong, Jiangsu and Zhejiang, although ICE cotton futures and Indian domestic S-6 spot quotations have fluctuated significantly recently, since mid-June, port bonded cotton fixed-price traders have expanded, and domestic cotton yarn quotations have increased accordingly. The Zheng Cotton CF2209 contract has been lowered, but the quotations of cotton yarn cargo, bonded and customs clearance cotton yarn have remained stable for more than a week. In particular, 8S-21S siro spinning and medium and high-end OE yarns from Vietnam, Pakistan and other countries have shown strong resistance to falling. Trade The sentiment of merchants supporting the price is strong.
A textile import and export company in Foshan said that since June, except for the quotations of Indian JC21-JC40S cotton yarn shipments and bonded yarn, which have continued to shift downward, the internal and external market of cotton yarn from other origins has been “calm and calm.” It is worth noting that the inquiry/shipment of imported C21-C40S knitted yarn in the past month has been somewhat slower than traders expected (according to previous years’ practice, export orders for knitted yarn and knitted fabrics were successively issued in May/July, and knitting enterprises’ circular knitting machines The operating rate generally reaches 70% or even more than 80%), which is related to the expected escalation of the U.S. government’s import ban on Xinjiang cotton products on June 21, the wide fluctuations in the RMB exchange rate, and the still prominent price inversion between India, Pakistan, Vietnam yarn and domestic cotton yarn. . It is understood that as of now, the quotations for customs clearance of major Indian manufacturers, brands, bleached C32S cotton yarn and domestic C32 yarn are still upside down at 4,000-4,500 yuan/ton. In addition to rigid demand for imported cotton yarn, it is difficult to increase the volume of transactions.
A medium-sized weaving company in Shaoxing, Zhejiang judged that there are two factors supporting the stabilization and resistance of imported cotton yarn internal and external markets. On the one hand, with the arrival of 6 Federal Reserve interest rate meetings, the probability of raising interest rates by 75 basis points has risen sharply, and the U.S. dollar index has risen. , the expectation of a substantial appreciation of the RMB has increased, which is conducive to the import of cotton and yarn; on the other hand, it is reported that not only the United States will impose a ban on goods from Xinjiang on June 21, but also on June 9, the European Parliament followed the United States and passed The “Resolution on Customs Measures against Forced Labor” will have a much higher impact and damage on China’s cotton textiles, clothing and other exports than expected. In order to avoid risks and maintain production, some export-oriented enterprises will increase the purchase and consumption of imported cotton yarn.
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