According to feedback from some cotton supervision warehouses in Aksu, Korla and Kuitun, Xinjiang cotton highway shipments have been declining since mid-April. Except for the key flows to Jiangsu, Shandong, and Henan, the performance is relatively stable, as are Hubei, Hebei, Anhui, and Sichuan. The flow direction is significantly reduced.
A cotton trader in Heze, Shandong Province said that in the past half month, Xinjiang cotton truck shipments are still dominated by cotton traders and futures companies, and mainland cotton spinning mills directly export Xinjiang cotton to Xinjiang. There are not many domestic purchases and pick-ups, and most of the shipments are grade 4127 and above. Xinjiang cotton with low color grade or high warehouse receipt discount for Zheng cotton is slow to leave the warehouse. Judging from the quotations of ginners and cotton enterprises, from April 26 to 27, the quotations of cotton picked by machines in the “Double 28” machine-picked warehouses in the mainland were concentrated at 16,000-16,200 yuan/ton, while the “Double 28” machine-picked cotton in the supervision warehouses in Xinjiang The quoted price of cotton is 15,750-15,900 yuan/ton.
In the past two weeks, the growth momentum of cotton road shipments in Xinjiang has stopped abruptly. The author investigated and summarized the following points:
First of all, 3 Since March, some small and medium-sized mainland cotton spinning mills have not been ideal in receiving orders (especially medium- and long-term orders). Not only have raw materials such as cotton and polyester staple fiber remained at a low level, but in order to reduce the risk of a large amount of cash flow being squeezed, finished product inventories have also remained at a relatively low level ( Some spinning mills have a heavy stock of OE yarns and low count spinning yarns).
Secondly, due to the increase in road and railway shipments from February to March, the current supply of Xinjiang cotton in the inland warehouses is very sufficient, and the price difference of the same grade of cotton inside and outside Xinjiang has narrowed to 250-250. 350 yuan/ton, which is 200-300 yuan/ton lower than the highest point in February, which has suppressed the relocation sales of ginning factories and cotton traders in Xinjiang.
Furthermore, due to factors such as the recent cooling and snowfall in many places in Xinjiang and the approaching May Day holiday, the number of vehicles leaving and returning to Xinjiang has decreased, and transportation companies and individual drivers have continued to increase truck transportation prices. , some cotton-related companies have suspended shipments or switched to railway transportation.
Finally, the delivery period of the CF2109 contract is still early, and cotton traders and futures companies have sufficient time to generate warehouse receipts in Xinjiang’s warehouses or move warehouses to inland delivery warehouses. Of course, the main contract of Zheng cotton in April rebounded from 14,485 yuan/ton to 15,990 yuan/ton. The low enthusiasm of cotton spinning mills and middlemen for price-setting purchases is also an important factor. </p
