According to feedback from cotton trading companies in Qingdao, Zhangjiagang and other places, due to the widening of ICE cotton futures and Zheng cotton oscillations in the past week and the slow start of inquiries and purchases by downstream cotton textile mills and middlemen, on February 8 -On the 9th, the quotations for bonded cotton from Brazil, the United States, West Africa and other origins were almost uniform, and the basis quotation resources were relatively small; although the sales of cargo and bonded cotton were still dominated by basis quotations, the fixed prices were also lower than those in January Significantly increased in the second half of the year.
Judging from the survey, the current customs-cleared Brazilian cotton M 1-1/8 (strong 28GPT) net weight fixed price in major ports in China is concentrated at 23,700-23,900 yuan/ton; M 1-5/32 (strong 28/29GPT) net weight fixed price About 24,000-24,200 yuan/ton; while the fixed price of customs-cleared US cotton 31-3/31-4 36/37 (strong 28/29GPT) is concentrated at 24,600-24,800 yuan/ton, the price difference between US cotton and Brazilian cotton of the same quality Increase to 600-800 yuan/ton. In the past two days, the quoted weight of “Double 28” Xinjiang machine-picked cotton in underground warehouses in Shandong, Jiangsu, Henan and other places has been raised overall to 23,600-23,800 yuan/ton (the delivery fee is borne by the seller), which is the same as Brazilian cotton M 1-1 /8 The market quotation is flat or slightly higher (need to consider the price difference between net weight and common weight), and the competitiveness of Brazilian cotton is still recovering and rising.
According to statistics and estimates by several large and medium-sized cotton merchants, since late January, cotton inventory at ports has continued to show a trend of “increasing bonded cotton and decreasing customs-cleared cotton”, and the overall inventory growth is not obvious. On the one hand, due to the continued rise in domestic cotton prices in India, the delivery dates of ginners and exporters have continued to be postponed, and shipments and arrivals at the port have been less than expected; on the other hand, domestic textile companies and traders are on vacation during the Spring Festival. Although the external market is concerned The degree is relatively high, but there are few order operations. It is also understood that although the 1% tariff cotton import quota for 2022 has been issued before the end of January, due to the main contract of ICE cotton futures exceeding 125 cents/pound and the lack of optional resources for bonded US cotton and Brazilian cotton at the port, textile companies, Importers are in a wait-and-see mood.
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