According to feedback from cotton yarn traders in Guangdong, Jiangsu and Zhejiang, the quotations of cotton yarns from Vietnam, Pakistan, Uzbekistan and other places have increased slightly since early July (Vietnam’s C32S and C40S high-end carded yarns have increased slightly); but India’s JC32, The price of JC40S cotton yarn is stable and trending down, and the transaction volume is light.
At present, the differentiation of cotton yarns of different brands, different origins, and different yarn counts is becoming more and more obvious. Inquiries and shipments of bonded, customs-cleared OE16S and below open-end spinning yarns are relatively deserted ( The supply of high-count cotton yarns such as OE21S and OE32S is tight), while the shipments of 8S-16S Pakistani siro spinning yarn are average, and the prosperity is not satisfactory.
From the survey, since late June, the inventory of bonded + non-bonded cotton yarn in China’s main ports has continued to rise slightly. The shipments of Vietnamese yarn, Central Asian cotton yarn, and Pakistani cotton yarn, The arrival volume accounts for a large proportion, while the quantity of Indian cotton yarn and blended yarn entering the bonded warehouse has decreased compared with the April/May fluctuations. A textile import and export company in Ningbo estimates that as of the end of June, the total bonded + non-bonded cotton yarn volume in major ports across the country has reached 180,000-200,000 tons, but the growth momentum has slowed down from the previous two months.
In the past week or so, the quotations of imported cotton yarn in US dollars and RMB have gradually increased, mainly due to the following factors:
1 In recent days, driven by the continuous upward breakthroughs of Zheng Cotton (the intraday high of 16,655 yuan/ton on July 6), domestic cotton spinning mills and middlemen have continued to increase their cotton yarn quotations; secondly, as the central bank raised the foreign exchange deposit reserve ratio, the RMB The exchange rate has turned from appreciation to depreciation, and the direct cost of cotton yarn imports has increased. Data statistics show that in the first half of the year, the RMB hit a maximum of 6.3565 and a minimum of 6.5799, with the maximum fluctuation exceeding 2,200 basis points; third, it was affected by the continued surge in sea freight, container shortages, and the upgrade of epidemic prevention and control at some ports/the backlog of import and export goods. (Slow customs declaration and warehousing of cotton yarn result in late payment fees), and the indirect cost of imported cotton yarn continues to rise; fourth, with the full resumption of work and production of textile and garment enterprises in Southeast Asian countries such as India and Vietnam, and the return of cotton product orders from Europe and the United States; coupled with the addition of ICE Driven by factors such as continuous rebounds and rising cotton futures prices in India, domestic sales and export quotations of cotton yarn in Southeast Asian countries have gradually stopped falling and rebounded. </p