According to feedback from cotton traders and textile companies in Jiangsu, Zhejiang, Shandong and other places, the quotations of bonded and long-staple cotton shipped in February/March have increased significantly since January compared with November and December. The resources are mainly concentrated in several large international cotton merchants and importers. In the hands of enterprises, American SJV cotton, Israeli PIMA cotton and Peruvian PIMA cotton are the main products. There are few shipment quotations for Egyptian Giza cotton in 2020/21 (Giza 86, Giza 88).
A trader in Qingdao said that the quantity of imported medium- and long-staple cotton arriving in Hong Kong and warehousing has shown a slight recovery recently, but SJV Pima cotton is relatively small. Sudan, the United States SJV, Spain, and Israel have many medium- and long-staple cotton origins. Not only The sales volume of a single batch is low, and the quality difference is somewhat large. The shipping schedule of SJV 21-2/21-3 38/39 in 2021/22 is concentrated in February/March.
Judging from traders’ quotations, the quotation of Israeli PIMA SM 1-7/16 39GPT (or PIMA SM 1-1/2 40GPT) in Zhangjiagang Free Trade Zone on January 11-12 was 308.75-309 cents/pound; while in 2020/21 The annual US SJV Pima cotton 21-2 48 quotation remains at around 360 cents/pound; the 2019/20 Peruvian PIMA M 1-1/2 (strong 34-35GPT) quotation is also close to 350 cents/pound. As of now, the net weight quotation of U.S. 21-2 48 Pima cotton for customs clearance is 56,800-57,000 yuan/ton (trader’s fixed price), which is higher than the quotation of Xinjiang long-staple cotton 3137 (strong 39/40CN/TEX) in the mainland warehouse, which is 8,000 yuan/ton. Ton or more (taking into account the price difference between public weight and net weight).
Judging from the survey, although long-staple cotton port bonded and cargo quotations have increased recently, domestic cotton textile companies and traders have not made strong inquiries/purchases, and the “warm water” market continues. On the one hand, there is currently a small amount of long-staple cotton in the port spot, many origins, and large differences in quality; the US cotton cargo in 2021/22 is also dominated by SJV 21-2/21-3 38/39 resources; on the other hand, the global epidemic is raging Factors such as the Federal Reserve’s accelerated exit from QE and expectations of three interest rate hikes in 2022 have led to the industry’s lack of confidence in the growth of high-end high value-added textile and clothing orders in the second and third quarters of 2022, and there are few operations to lock in the supply of long-staple cotton raw materials in advance.
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