According to feedback from cotton yarn traders in Ningbo, Guangdong, Qingdao and other places, despite the continuous upward breakthroughs in the RMB exchange rate, the continuous outbreak of the new crown epidemic in the EU, and the gradual end of orders and deliveries during Thanksgiving and Christmas, the external quotation of Indian cotton yarn ( FOB, CNF or CIF) remained stable and slightly increased; while the quotations of cotton yarn from Vietnam, Pakistan, Indonesia and other producing areas stabilized at a high level, and yarn mills and exporters were not willing to take the initiative to reduce prices to facilitate transactions.
A large trading company in Ningbo said that the strong quotation of Indian cotton yarn is mainly due to the successive increases in the CCI auction floor price, the spot increase driven by MCX futures, and the start-up rate of domestic textile and clothing companies in India has rebounded to 85% or even 90%. Above, the load is close to the peak and other positive supports; coupled with the fact that CCI has started to purchase MSP at high prices in Punjab, Hayana, Telangana, Rajasthan and Madhya Pradesh, the price of raw materials is “easy to rise but difficult to fall”, superimposed Domestic consumer demand has recovered strongly. Therefore, even if weaving mills and traders in China, Vietnam, Indonesia and other countries have significantly weakened and shrunk the shipping schedule, bonded Indian yarn inquiries and purchasing atmosphere, the quotations of Indian and Pakistani yarns have remained stable despite the trend. Go strong.
According to statistics, India’s total cotton yarn export volume reached 92,400 tons in September, a year-on-year increase of 40.8% and a month-on-month increase of 0.8%. Exports to Bangladesh are very strong; from January to September, India’s cotton yarn export volume was 721,000 tons. , a year-on-year increase of 0.06%. Considering the outbreak of the new crown epidemic in 2020, the production and sales of Indian cotton textiles and clothing have been greatly affected; coupled with the appreciation of the Indian rupee against the US dollar, the high price of CCI cotton and other negative factors, in 2020 India’s cotton yarn exports in the first three quarters were very impressive; but it is worth noting that in September, India’s cotton yarn exports to China dropped sharply by 27.5% month-on-month, and from a survey of traders and cloth mills in Jiangsu, Zhejiang, Guangdong and other places, China’s purchase of cotton yarn in October Everyone still doesn’t buy Indian yarn, and the probability of continued decline month-on-month is high.
A weaving company in Shandong said that the price of Indian cotton yarn has only risen but not fallen, and the impact of the epidemic on cotton yarn production, shipping, delivery, etc., resulting in contract delays are just one of the reasons why Indian yarn is “neither popular nor popular.” 1; Compared with Vietnamese yarn, Pakistani yarn, and Central Asian yarn (mainly Uzbekistan yarn), a large number of low-quality, low-grade Indian cotton was put on the machine in the later period, which caused the index of 32S and above Indian yarn to decline, poor stability, and heavy foreign fibers ( It is not conducive to dyeing, and the current main raw material is still old cotton from 2019/20); some Indian yarn mills and exporters also suggest that buyers postpone the purchase of cotton yarn or postpone shipment to January/February 2021 (the raw material is new cotton from 2020/21) ). </p
