According to customs statistics, cotton imports in June 2021 were 172,100 tons, of which US cotton, Indian cotton, and Brazilian cotton accounted for 36.48% (US cotton accounted for more than 40% in the same period in 2020) and 35.73% respectively. , 19.11%. It is somewhat unexpected that Brazil’s cotton imports were significantly overtaken by Indian cotton.
It is worth noting that Australia’s cotton imports rose to 3,162 tons in June (rising to the fourth place in China’s cotton importing countries). Although the month-on-month growth rate still reached -34.62%, The year-on-year growth reached 634.64%; in May 2021, China only imported 430 tons of Australian cotton, with year-on-year and month-on-month growth rates of -90.91% and -95.91% respectively. Within a month, Australian cotton’s attention and import volume have undergone earth-shaking changes.
According to feedback from cotton trading companies in Qingdao, Zhangjiagang and other places, as of the end of July, the amount of Australian cotton cleared through customs in major ports in China was very small (all cotton resources for 2019/20, M 1-5/32 mostly), mainly processed by traders and clearance, mostly 1-4 containers (1 container accounts for a large proportion); SM 1-5/32 net weight quotations are concentrated at 18900-19200 yuan/ton , due to the high quotation and the concern of textile companies that multiple purchases will lead to large differences in cotton indicators, which is not conducive to the stability of yarn quality. Therefore, although the quantity of Australian cotton cleared through customs is low, shipments are also slow.
From the survey, cotton traders are currently focusing on selling Australian cotton for 2020/21 with shipping dates in August/November, and the supply is very sufficient. Some large and medium-sized cotton spinning mills are optimistic about 2020 /The enthusiasm for inquiry and purchase of Australian cotton in 2021 is relatively high. Industry analysis: On the one hand, the current August/November shipping schedule SM 1-5/32 Australian cotton basis difference is 14-15 cents/pound (M 1-5/32 basis difference 12.5-13.5 cents/pound); while 8/ The basis difference of US cotton 21-3 37/38 in September shipping date has reached 15.5-16.75 cents/pound, and Australian cotton is cost-effective; on the other hand, the 700,000 tons sliding tax cotton import quota in 2021 is valid until December 2021. On March 31st, it cannot be extended for use before the end of February 2022. Therefore, the new cotton that textile companies can choose from August to November is only Brazilian cotton and Australian cotton. Australian cotton has strong advantages in quality, transportation, settlement, etc.; Furthermore, , the epidemic situation in Southeast Asian countries has “pressed the gourd and raised the gourd again”, especially the impact on yarn mills in Vietnam, Indonesia, India and other countries is still continuing. Some high-end orders from Europe, the United States, Japan and other countries have returned to China. On the premise of good profits, cotton spinning mills Increasing the proportion of Australian cotton to cotton will not only improve the quality stability of gauze and fabrics, but also avoid the negative consequences of the U.S. government’s import ban on Xinjiang cotton products. </p
