According to customs statistics, my country’s cotton yarn imports in April 2021 were 230,000 tons, an increase of 10,000 tons, or 4.55%, compared with the previous month; an increase of 90,000 tons, or 64.3%, compared with the same period last year (with the severe epidemic situation in Southeast Asian countries and shipping Under the premise that freight rates continue to rise and shipping space is extremely tight, the arrival volume once again exceeded 200,000 tons), an increase of more than 30% compared with April 2019 pure cotton yarn imports, setting a new high since March 2015.
From January to April 2021, my country’s cumulative cotton yarn imports exceeded 800,000 tons, a year-on-year increase of more than 30%; from January to April 2021, China’s cotton yarn imports amounted to 2090 million US dollars, a year-on-year increase of 44.1%. According to industry analysis, the continuous “blowout” growth of imported cotton yarns has exerted continuous pressure on domestic cotton consumption; on the other hand, imported yarns have become more and more substitutable for domestic yarns, and cotton yarns with counts of 32S and below have lost ground.
Why did my country’s cotton yarn imports reach a new high in April? Some cotton companies and textile and clothing companies summarized the following points:
First, since mid-March, the epidemic suddenly broke out in India, got out of control, and spread to neighboring countries, including India, Pakistan, Indonesia, etc. Domestic cotton yarn consumption has declined rapidly, and cotton yarn export quotations in US dollars by yarn mills and exporters have been reduced across the board;
Secondly, ICE and Zheng Cotton both rose in April (the main ICE contract reached a high of 91.66 US dollars). points/pound), but the price increase of domestic yarn and customs-cleared foreign yarn is relatively low or even “standing still”. Traders and cloth factories purchase bonded cotton yarn and ship cargo to replenish their stocks;
Third, the RMB exchange rate has appreciated significantly, which is beneficial to the import of cotton and yarn. According to statistics, as of the end of April, the onshore RMB exchange rate against the US dollar rose above the 6.47 mark, rising by more than a thousand points from the low of 6.58 in early April;
Fourth is Europe and the United States in March/April Orders from countries such as China, India, and Bangladesh are gradually returning. Considering that the U.S. government still imposes a ban on the import of Xinjiang cotton products and some international textile and clothing brands have “touched” Xinjiang cotton, weaving, fabrics, and clothing companies have expanded inquiries about imported yarns. Price and procurement to avoid risks;
Fifth, bonded cotton yarn stocks in China’s main ports such as Vietnam, India and Pakistan, Central Asia, Indonesia and other origins are relatively sufficient, and buyers have room to choose goods. There is a lot of room for negotiation. </p