According to feedback from some cotton spinning companies in Jiangsu, Henan, Zhejiang and other places, shipments of high-count carded yarn and combed yarn have been weak since the Spring Festival, significantly lower than the expectations of all parties before the holiday. Weaving, clothing, and foreign trade companies in coastal areas have reported that new orders for high value-added textiles and clothing are not smooth, and the impact of the U.S. import ban on cotton-related products has expanded. Whether it is Xinjiang long-staple cotton or bonded and customs-cleared foreign long-staple cotton, the price is high and the supply is tight. The net profit of high-count yarn has been greatly reduced, and the enthusiasm of spinners to accept “short, flat and fast” orders is not high.
A medium-sized textile company in Jiangsu said that the current price of Xinjiang 3137-grade long-staple cotton in 2021/22 from inland warehouses in Jiangsu, Shandong and other inland warehouses is stable at 55,500-55,600 yuan/ton (53,500-54,000 yuan/ton for delivery from inland warehouses in Xinjiang), Qingdao The net weight quotation of American Pima cotton cleared by Hong Kong is as high as 58,000-58,500 yuan/ton. Based on the current prices of domestically produced and imported long-staple cotton, it is relatively difficult for spinners to receive orders.
Judging from the survey, although cotton trading companies and cotton textile mills are less willing to concentrate on long-staple cotton and replenish their stocks in large quantities in 2021/22, and the industry’s concerns about the intensification of the conflict between Russia and Ukraine and the “countdown” for the Federal Reserve’s interest rate hike have intensified, Long-staple cotton processing enterprises are still very reluctant to support prices and are reluctant to sell. First, the contradiction between insufficient supply and demand in China and the global long-staple cotton market is very prominent in 2021/22; second, due to low output and the inability to achieve large-scale machine mining, cotton farmers in Aksu, Bachu and other places will expand the long-staple cotton planting area in 2022. The willingness is not high.
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