According to feedback from cotton trading companies in Qingdao, Zhangjiagang, Guangzhou and other places, the main CF2309 contract of Zheng Cotton exceeded 17,000 yuan/ton yesterday (the intraday high was 17,015 yuan/ton), and the ICE cotton futures near-month contract once again fell below 85 cents/pound ( The intraday low of 84.38 cents/pound), the price difference between imported foreign cotton and Xinjiang cotton in inland warehouses under 1% tariff and sliding tariff continues to expand. The cost advantages of US cotton, Brazilian cotton and Australian cotton are becoming more and more prominent. Not only are the ports bonded The inquiry and transaction activity of foreign cotton have increased significantly (basis trading is the main one), and customs clearance and shipment of foreign cotton have also accelerated significantly.
Although domestic cotton textile mills and middlemen are highly motivated to purchase goods, some international cotton merchants and traders are not very willing to sell and are reluctant to sell. A few cotton companies with high cotton holding costs and high cash flow pressure have been On the one hand, the bargaining space for actual orders has been compressed. On the other hand, the price of pending orders has been tightened, and buyers are encouraged to bid, basis difference, lock basis and other trading methods.
Judging from traders’ quotations, on June 5-6, the quotations of customs-cleared Brazilian cotton in major ports in China were very confusing, with M 1-1/8 (strong 28GPT) and M 1-5/32 (29/30GPT) quotations respectively. The price is 17200-17600 yuan/ton (the highest basis price exceeds 18000 yuan/ton), 17600-18200 yuan/ton, while the bonded US cotton 31-3 36/37 (strong 28/30GPT) quotation jumps to 17900-18200 yuan /Ton.
On June 6, the quotation of “Double 28” Xinjiang machine-picked cotton in Jiangsu, Shandong and other inland warehouses was 17,500-17,700 yuan/ton, and the quotation of “Double 29” was 17,900-18,050 yuan/ton, taking into account the settlement difference between gross weight and net weight. , Xinjiang cotton price is 500-700 yuan/ton higher than the same indicator of Brazilian cotton. Some small and medium-sized cotton-using enterprises do not have a 1% tariff cotton import quota and have a rigid demand for imported cotton. In addition, the price advantage of customs-cleared cotton is obvious, so they have increased efforts to inquire about prices, inspect goods, and replenish inventories of customs-cleared cotton.