According to feedback from cotton trading companies in Qingdao, Zhangjiagang, Guangzhou and other places, in the past week or so, port cotton stocks have shown an increase in bonded cotton and a decrease in non-bonded cotton. The pressure on storage capacity continues to expand, with arrivals in Hong Kong in March and April. The growth in the quantity of US cotton stored in the warehouse in 2019/20 and 2020/21 is particularly prominent.
A medium-sized cotton import company in Huangdao said that since March, the inquiry, transaction and customs clearance situation of US cotton and Indian cotton have been significantly better than that of Brazilian cotton and West African cotton in 2019/20. Cotton, etc., Brazilian cotton is mainly caused by the high basis difference, the obvious decline in the quality of lint cotton in the middle and late stages, and the resurgence of the epidemic in Brazil, which has a certain impact on cotton land transportation, warehousing and port shipping.
According to statistics from the General Administration of Customs, my country’s cotton import volume in March 2021 was 280,392 tons, an increase of 39.37% compared with the same period last year; but it is worth noting that U.S. cotton and Brazilian cotton The import volumes of Indian and Indian cotton were 131,689 tons, 73,941 tons, and 47,421 tons respectively, with year-on-year changes of 151.59%, -12%, and 42.78% respectively. Among the top six countries in my country’s import volume, only Brazilian cotton year-on-year, The month-on-month figures were all negative, and the decline was relatively large, in sharp contrast to the surge in U.S. cotton imports.
According to statistics and analysis by several international cotton merchants and large import companies, they all agree that the current total bonded + non-bonded cotton warehouses in China’s main ports have exceeded 500,000 tons. It is very likely that Reaching 520,000-530,000 tons, the details are as follows:
First, the warehouses around Qingdao and Jiaozhou Peninsula, with bonded + customs clearance cotton stocks of about 300,000-320,000 tons (including about 270,000 tons in Huangdao) -280,000 tons), mainly American cotton, Brazilian, Indian cotton, Australian cotton, and West African cotton;
The second is bonded + customs clearance cotton in Zhangjiagang area and Nantong, Nanjing and other ports The inventory is about 100,000-120,000 tons (of which Zhangjiagang port cotton inventory is about 81,000 tons), mostly Brazilian cotton, American cotton, and Indian cotton;
The third is Shanghai, Ningbo, and Guangzhou The cotton inventory in other ports such as Tianjin, Shenzhen, and Tianjin is about 100,000 tons, with US cotton, Indian cotton, Australian cotton, Brazilian cotton, and West African cotton accounting for a slightly higher proportion.
From the survey, up to now, the basis quotations and fixed-price resources for customs clearance of US cotton, Brazilian cotton, Indian cotton, etc. in the main port bonded areas are very sufficient, with various grades and quality indicators It can be said that everything is available, and textile companies and middlemen have a relatively large space to select goods and negotiate prices; and the April-June shipping schedules of US cotton, Brazilian cotton, Indian cotton, and Australian cotton are also “crowded”, so it is expected that port warehouses, loading and unloading will be in the second quarter of 2021 The pressure is still difficult to relieve. </p
