The Transaction Of RMB Resources Is Light. Textile Enterprises Are Not Eager To Replenish Inventory
According to the feedback of cotton trade enterprises in Zhangjiagang, Qingdao and other places, due to factors such as the sharp callback of Zheng Mian on November 21, the continued weak demand, and the cotton textile enterprises that only have traceability orders just need to purchase, plus the impact of this week’s base difference quotation of Xinjiang cotton in warehouses inside and outside Xinjiang, and the overall decline of the one time price, the RMB quotation of cotton resources outside the port has been weak in recent days, with a decline of 100-200 yuan/ton.
A cotton merchant in Qingdao said that although there is still a certain amount of customs cleared American cotton, Brazilian cotton and Indian cotton in China’s main ports, the number of single batches is small, the number of batches is large, and the quality indicators of cotton from the same origin are slightly different. In addition, the current quotations of port M 1-1/8 Brazilian cotton, 31-3/31-4 36 and inland warehouse “Double 28″ machine picked cotton are more than 2500 yuan/ton, so the domestic textile enterprises have weak acceptance and digestion capacity, and some traders cut the basis difference The effect of price reduction is not significant. According to the survey, at present, the arrival and warehousing of Brazilian cotton at the main ports in China will continue to increase in 2022. The quotation is not only more than 500 yuan/ton higher than that of the same quality cotton in 2021, but also the new Brazilian cotton is dominated by M 1-5/32 strength 28/29/30GPT, and its spinnability and other indicators are higher than that of the old cotton in 2021.
Quotation of a large cotton enterprise on November 23 (customs clearance): 14,200 yuan/ton for Indian cotton S-6 29mm (Qiangli 28/29GPT) in 2020/21; The quotation of Benin cotton M 1-1/8 (strong 28GPT) in 2021/22 is 16,850 yuan/ton; In 2021, Brazilian cotton M “Double 28″ (or Single 29) will be quoted at 17550 yuan/ton, and in 2021/22, American cotton 31-3/31-4 37 (Qiangli 30/31GPT) will be quoted at 18650-18750 yuan/ton. Although the overall quotation is slightly lower than that in the first half of November, and there is a large discount for actual orders with more than 5 counters at a time, there are still few customers who make inquiries and are interested in placing orders.
A textile enterprise in Suzhou, Jiangsu Province believes that the number of American cotton, Brazilian cotton and Australian cotton shipped in November/December/February is relatively large. In addition, the centralized use of sliding tariff and 1% tariff quota in 2022 before the end of December will leave just enough demand for imported cotton procurement. The pressure of supply and demand is expected to continue to rise. In addition, 1% tariff cotton import quota will be issued after the beginning of the New Year Before March, traceability orders entered the off-season and Zheng cotton’s main contract continued to consolidate in the range of 13000-13500 yuan/ton and other negative factors. The inquiry/shipment of port clearance cotton is still difficult to release and recover, and the pressure of traders may only rise.
Post time: Nov-26-2022