According to feedback from cotton traders in Qingdao, Zhangjiagang and other places, driven by the joint increases of ICE and Zheng cotton in the past two days, the quotations of foreign cotton cargo, bonded and customs clearance cotton have all risen. Due to the speculation about the weather in West Texas ; The trillion-dollar economic stimulus plan launched by the United States and Europe is full of expectations for the push and pull effect on the financial, stock and bond markets, and commodity futures. Institutions, cotton merchants, etc. have strong expectations for ICE to make up for the increase. Some traders are even reluctant to sell and hold on to their stocks. Therefore, although ICE and Zheng cotton have risen sharply, most of them have not adjusted their basis.
A medium-sized cotton company in Qingdao stated that recently in 2019/20, Brazilian cotton and US cotton are still the main subjects of market inquiries and shipments; among them, M 1-1/8, SLM 1-1/8, The sales of medium and low-quality Brazilian cotton such as M 1-3/32 are more active than cotton from other producing areas; Australian cotton is expected to arrive in Hong Kong from the end of July to early August in 2020. However, due to the high CNF and CIF quotations of Australian cotton and the high price of Chinese cotton textile enterprises and Traders are increasingly concerned about the quality grade of Australian cotton in 2020 (commodity inspection results may be somewhat different from “bulk goods”). Therefore, although international cotton merchants and import companies have increased customer contact, quoted prices, and reduced basis differences, Chinese companies have not Not very “buy it”; with the orderly rotation of reserve cotton, small and medium-sized yarn mills in coastal areas such as Shandong, Jiangsu and Zhejiang are paying less and less attention to and purchasing Indian cotton in 2019/20. Several traders even said that Indian cotton has been sold in the past week. It is basically unsalable and has obvious characteristics of “price but no market”.
On July 21-22, the quotations for customs clearance of Brazilian cotton M 1-1/8 and M 36 at Qingdao Port were 12,500-12,600 yuan/ton and 12,800-12,900 yuan/ton respectively; while US cotton 31 The quotation of -3-36 generally reaches 13200-13300 yuan/ton, which is 300-500 yuan/ton higher than the same quality Brazilian cotton; while the quotation of SM 1-5/32 Australian cotton is higher than the same quality Brazilian cotton 2300 yuan/ton. tons or more.
Textile enterprises in Henan and Zhejiang said that comparatively speaking, there is not much difference between Brazilian cotton and American cotton and Australian cotton in terms of length, breaking strength, horse value and other indicators. However, impurities, consistency, and differences There are still some gaps in fiber content with Australian cotton, US cotton C/A, and EMOT. First, the spinning rate is slightly lower; second, at the same twist, the strength of cotton yarn is slightly weaker. However, for foreign trade or domestic sales orders with low requirements and low profits, Brazilian cotton can completely replace American cotton. If factors such as origin and cost are not considered, the price difference between Brazilian cotton and US cotton EMOT/MOT is 200-300 yuan/ton, which is more appropriate. </p
