Judging from the quotations of traders in Qingdao, Zhangjiagang and other places, the basis quotations for customs clearance of Brazilian cotton M36 (strong 28GPT) and US cotton 31-336 (strong 28GPT) in the past two days are 12330-12380 yuan/ton and 12700 respectively. -12750 yuan/ton (CF2009+basis); while the 2019/20 Indian cotton M1-5/32 (strong 29GPT) is quoted at 11500-11550 yuan/ton, not only does the price difference with US cotton 31-336 widen to 1100-1200 Yuan/ton, and the price difference with 3129A/B Xinjiang machine-picked cotton in mainland warehouses has also expanded to 700-800 yuan/ton. Judging from the selling price alone, Indian cotton can be said to be full of sincerity, and is quite competitive compared with other cotton from other origins, such as foreign cotton and Xinjiang cotton. Competitiveness.
A medium-sized cotton trading company in Huangdao reported that since late May, the growth of non-bonded cotton stocks at the port has not been obvious, and the outbound and inbound volumes of some Brazilian, Indian cotton and high-quality U.S. cotton operators have The price is the same or slightly larger. The transactions are still dominated by bonded and customs-cleared Brazilian cotton, US cotton, and Indian cotton. On the one hand, considering that the sales and pre-sales of Australian cotton, Brazilian cotton, and US cotton have been fully launched in 2020, some traders have seized the opportunity to lower prices. The price of the 2018/19 port cotton inventory was sold out, and the funds were cashed out; on the other hand, recent inquiries and transactions for foreign cotton with high spinnability and low premiums (mainly grades M and SLM) at the port have continued compared with March and April. Picking up (currently, the net weight quotation of Brazilian cotton of the same quality and grade in Qingdao Port is basically in line with the quotation of Xinjiang cotton in mainland warehouses).
Recently, the June/September shipping date SM1-5/32 Australian cotton was quoted at 96.90-77.50 cents/pound (2020 Australian cotton), and the basis narrowed to 1850-1950 points; while SM1- The basis difference of 3/32 Australian cotton is still as high as 2150-2250 points. It is worth noting that since late May, the spot and shipping quotations of Australian cotton in 2020 have been significantly reduced compared with April/May, and some international cotton merchants have no longer quoted prices or provided supply. According to industry analysis, firstly, there has been continuous rainfall in Australia’s main cotton-producing areas recently, and the quality and grade of unharvested cotton are expected to decline significantly, which is worrying. Most Australian export companies and international cotton merchants have suspended their quotations; secondly, China-Australia relations continue to deteriorate. . In May, China suspended imports of Australian beef and imposed an 80% tariff on Australian barley. However, the Australian government still refuses to repent after having suffered the consequences. The additional tariffs on Australian cotton are likely to become another “killer weapon” for China to counter Australia; third, the recent RMB The sharp depreciation is not conducive to Australian cotton purchases on spot and shipping dates. </p
