Foreign cotton arrives in Hong Kong with great potential, but the quality of US cotton varies



According to feedback from cotton trading companies in Qingdao, Zhangjiagang and other ports, a relatively large number of U.S. cotton arrived in Hong Kong and was warehoused in Ma…

According to feedback from cotton trading companies in Qingdao, Zhangjiagang and other ports, a relatively large number of U.S. cotton arrived in Hong Kong and was warehoused in May/June, leaving Brazilian cotton, Indian cotton, Australian cotton, etc. far behind. With 2020/21 The annual upland cotton is mainly used, supplemented by a small amount of 2019/20 old cotton.

A large international cotton company estimates that as of late June, the total inventory of bonded cotton + customs clearance cotton in China’s main ports may have reached 580,000-600,000 tons (exclusive) Mainland customs bonded + non-bonded cotton), among which the inventory of US cotton in 2019/20 and 2020/21 may have reached 40%-45%, while the number of Brazilian cotton bonded + customs clearance is also relatively large, or accounts for the total port cotton inventory. 20%-25% of the volume, Indian cotton, African cotton and cotton from other origins together account for 30%-40% of the total foreign cotton inventory at the port. The shipment and arrival volume of US cotton in May/June/July is relatively strong, which intensifies The storage capacity of Qingdao, Zhangjiagang, Shanghai and other port bonded areas is under pressure.

From the survey, although the quantity of 2020/21 U.S. cotton arriving in Hong Kong and warehoused in May/June returned to first place, U.S. cotton is not only SLM and other low color grades The proportion has increased, and the proportion of horse value 2.7-3.5 has also increased significantly compared with March/April. Although the fiber length of US cotton in the middle and late stages of lint generally reaches 35/36/37 (the proportion of 34 or 1-1/16 is lower), The breaking strength is 27GPT and above, but the spinnability and consistency are weakened due to the low horse value, and the matching degree with the actual needs of enterprises spinning medium and high count yarns is reduced.

A textile company in Henan said that although the foreign cotton stocks in major ports such as Qingdao and Zhangjiagang are currently very sufficient, on the one hand, cotton textile companies seriously lack cotton import quotas and can only “draw cakes to satisfy their hunger” “; On the other hand, the foreign cotton quotations after customs clearance by traders and large-scale textile enterprises are obviously high, and it is difficult for textile enterprises to accept and digest them.

On June 22-23, Qingdao Port US cotton M 31-3 36/37 quotations were concentrated at 16850-17050 yuan/ton, bonded M 1-1/8 US cotton RMB The quoted price is 15,000-15,100 yuan/ton (the buyer brings his own customs clearance for cotton import quota within 1% tariff); and the current quotation of 3129B (strong 28CN/TEX) in Shandong, Jiangsu and other inland warehouses is about 16,350-16,500 yuan/ton (depending on the specific Indicators and warehouses are different or there are some differences), taking into account the difference in public weight and net weight, the actual transaction price of Xinjiang cotton is 200-300 yuan/ton lower than that of US cotton. Xinjiang cotton has a slight advantage over US cotton of the same quality and grade in terms of quotation. </p

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Author: clsrich

 
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