According to cotton yarn trading companies in Jiangsu, Zhejiang, Guangdong, Fujian and other places, inquiries and shipments of bonded and customs-cleared cotton yarn have not picked up further since late May, and demand and consumption for domestic OE yarn, C40S and below ring spinning yarn have continued The growth forms a certain degree of contrast. The trading of carded yarn and carded yarn in India and Vietnam above 50S continues to be deserted.
It is worth noting that, in addition to some contract purchases of Pakistani OE yarn, 8S-16S Siro spinning yarn and 20S-C32S high-quality packaged bleached yarn, the July/August shipping schedule is Indian, Central Asian yarn (Uzbekistan) Stan, Turkmenistan, etc.), Indonesia, and Thailand yarn inquiries and orders are not optimistic.
Importing companies in Qingdao, Hangzhou and other places said that due to some small and medium-sized Vietnamese yarn mills reducing production or even shutting down in May/June; in addition, the main ICE cotton futures contract continues to be at 57-60 cents/pound. The consolidation within the carriage has resulted in high yarn cost, CNF or FOB quotations in Vietnam. In order to avoid the risk of contract execution in the later period, not only did Chinese buyers focus their attention and inquiry on spot or futures cotton yarn in bonded warehouses, but Vietnamese yarn mills also reduced their quotations for cargo yarn to varying degrees.
A 30,000-spindle yarn factory in Vietnam believes that since mid-April, Chinese companies have signed a large number of contracts to import 2019/20 US cotton, and they mainly focus on high-quality, high-grade and high-spinnability, resulting in the length of the international market. 1-1/8, the supply pressure of US cotton above 28GPT is rising. In order to ensure the stable quality of cotton yarn from June to September and improve the competitiveness in the international market, some Vietnamese yarn mills may increase the purchase quotation of US cotton or turn to signing contracts to import high-quality indicators from Brazil. Cotton, West African cotton, and Central Asian cotton are in full competition with Chinese companies.
As for the reasons for the lack of internal and external inquiries and transaction motivation for imported cotton yarn, and the relatively fragile corporate confidence, industry analysis has the following points: First, there was no retaliatory consumption in the domestic textile and clothing market in April and May. The orders received by weaving and clothing companies are recovering slowly; according to convention, the domestic sales market will enter the off-season from July to August; secondly, although Europe and the United States have successively pressed the economic start button, and a small number of export orders have arrived, Sino-US relations have once again become tense. , delicate period, the possibility of trade, political or even military confrontation cannot be ruled out; thirdly, with the V-shaped reversal of US stocks, the pressure for RMB depreciation has suddenly increased, and the cost of imported cotton yarn has increased. From the evening of May 27 to the early morning of May 28, the offshore RMB once depreciated by 500 points, and the exchange rate hit a low in nearly nine months. </p
