According to feedback from cotton traders in Qingdao, Zhangjiagang, Shanghai and other places, inquiries and shipments of cargo, bonded and customs-cleared Australian cotton have declined significantly since mid-November, 1-3/16, 1-7/32 The transaction of high-index lint cotton has been sluggish (including 2019 and 2020). However, because Australian cotton resources are mainly concentrated in the hands of several large international cotton merchants and large import companies, the awareness of “joint price guarantee” is relatively strong. Therefore, even if ICE and Zheng Cotton Falling, the loosening of Australian cotton quotations in internal and external trading is still not very obvious, and export companies and traders have a strong sentiment of supporting prices and selling.
On November 17-18, Qingdao Port customs clearance Australian cotton M 1-5/32 (strong 29-30GPT) quoted price of 16,300-16,500 yuan/ton, higher than 31-3 36 (strong 28GPT) US Cotton is nearly 1,000 yuan/ton; SM/GM 1-3/16 (strong 30-31GPT) Australian cotton is quoted at 16,900-17,200 yuan/ton. Overall, the quotation of Australian cotton in mid-November was only 200-300 yuan/ton lower than the highest point in 2020. The resources available for Australian cotton in 2020 are few, the monopoly of large enterprises, and the quality and grade of US cotton in 2019 and 2020 are not “awesome”. is the main reason.
An international cotton trading company in Huangdao stated that as of mid-November, not only the amount of bonded and customs-cleared Australian cotton at the port was relatively large, but the quotations were also very concentrated (including a certain proportion of 2019 Australian cotton); and There is also a lot of Australian cotton on the November/December/January shipping schedule (lint strength for later shipments generally reaches 30GPT and above, with high indicators and spinnability), but Chinese cotton textile companies and middlemen do not “buy in” to Australian cotton. , the characteristics of “a market with few prices” are prominent. First, the Chinese government has adopted a series of restrictive measures on a variety of commodities imported from Australia; second, the price of Australian cotton is “extremely high”, and the normalization of the epidemic has caused a continued downturn in orders for my country’s high-end textile and clothing products. Therefore, Australian cotton and The matching degree of actual demand of textile enterprises has declined. Judging from the survey, the current basis difference of 11-5/32 and 21-3 37 Australian cotton in China’s main ports for the November/December shipping schedules are 14.5-15.5 cents/pound and 16-17 cents/pound, respectively. The basis difference of December shipping date M37 is only 7.25-8.5 cents/pound; thirdly, high-quality and high-index US cotton and Brazilian cotton are increasingly substituted for Australian cotton, and Australian cotton is increasingly marginalized and cold-processed. The clearer. On the one hand, in recent years, Chinese textile companies and traders have never stopped questioning the results of Australian cotton commodity inspection, and the credibility of commodity inspection indicators has declined; on the other hand, Brazilian cotton varieties have been improved, equipment updated and the quality of milling has improved, and land transportation , warehousing and shipping bottlenecks have been gradually resolved, and competitiveness has rapidly improved, on par with US cotton and Australian cotton. </p
