According to the survey, due to the main contracts of the Zhengzhou period breaking through 13,000 yuan/ton, 12,800 yuan/ton, and 12,600 yuan/ton in recent days, as well as the picking, processing, and listing of new cotton in 2019/20, the foreign cotton inventory at the port continued to rise slightly. Affected by factors such as rising prices and high shipping pressure, port customs clearance and bonded foreign cotton quotations in RMB were passively lowered. Some cotton traders with small inventories (generally 5-10 containers) rushed to clear the 2017/2018 West African cotton, Brazilian cotton, and Indian cotton. Cotton, Greek cotton, etc.
On September 25th and 26th, the RMB fixed price of S-6 M 1-5/32″ and S-6 SM 1-5/32″ in Qingdao warehouse were 12400-12500 yuan/ton respectively. 12600-12700 yuan/ton (customs cleared); M 1-1/8″ Brazilian cotton basis price is 12600-12650 yuan/ton; and 2017 SLM 1-1/8″ Mali, Chad, Burkina Faso, etc. The lowest quotation for cotton from the origin (Mozambique) is only 10,500-11,500 yuan/ton. A trader’s bonded warehouse in Zhangjiagang quotes 550 tons of M 1-5/32″ Brazilian cotton in RMB 11,600-11,800 yuan/ton (the impurities are different, the indicators are slightly different, and the quotation is slightly adjusted. The buyer is required to bring his own cotton import quota within 1% tariff. ; , US cotton traders are under relatively high pressure (including bonded and customs clearance). On the one hand, Brazilian new cotton has begun transportation, shipping, and shipping in 2019. It is expected that it will be delivered or entered into the bonded area in mid-to-late October, and old cotton will be sold and exported. The goods are making matters worse; in addition, the current port bonded and on-hand old cotton is of low grade (SLM, M grade), low length (1-3/32″, 1-1/16″, etc.), and low strength (29GPT and below) The proportion of resources is high, so even if the price reduction promotion effect is not ideal; on the other hand, the RMB depreciation rate exceeded 4% in August, and traders took the initiative to clear foreign cotton. The cost increased significantly compared with the previous period, so the dollar quotation of foreign cotton increased; 1% of domestic imports Quotas are scarce, and cotton textile companies are focusing on restocking cotton reserves and Xinjiang old cotton in 2018/19. Foreign cotton is in the position of “grandma doesn’t love it, but uncle doesn’t love it”. Although the arrival and storage volume of Australian cotton in Hong Kong in 2019 gradually increased, However, for the net weight quotations of SM 1-5/32″ and GM 1-1/8″, which both reached 15,200-15,400 yuan/ton, buyers were not interested in making inquiries or taking delivery of goods.</p
