In March 2023, my country imported 137,000 tons of cotton yarn, a month-on-month increase of 45.84%, and a year-on-year increase of 10.31%; it exported 24,500 tons of cotton yarn, a month-on-month increase of 34.52%, and a year-on-year increase of 4.56%. Cotton yarn imports and exports in March showed a “two-way rush” growth. . Among them, Vietnam, Pakistan, and India accounted for 46.28%, 13.75%, and 13.54% of cotton yarn imports in that month respectively. It is particularly noteworthy that India’s cotton yarn imports increased by 216.42% month-on-month and 276.51% year-on-year. Not only did they quickly rise to third place, And the import ratio is almost the same as that of Pakistan.
Recently, some large and medium-sized light textile import and export companies in Guangdong, Jiangsu and Zhejiang have reported that in April and May, weaving factories and middlemen in coastal areas were more enthusiastic about Indian yarn inquiry/purchase than Pakistani cotton yarn, especially Indian compact yarn. , there is strong interest in high-count combed yarns of 40S and above; in addition, the quantity of Indian cotton yarn arriving, warehousing, and customs clearance in April not only increased significantly compared with January to March 2023, but also accounted for 30S and above. Therefore, the industry predicts that the import volume and proportion of Indian cotton yarn will exceed that of Pakistani cotton yarn in April.
A cotton yarn trader in Nanjing said that the company has strong confidence in the growth of Indian cotton yarn imports in May and June. On the one hand, as the main contract of ICE cotton futures last week once again exceeded 80 cents/pound and 84 cents/pound, Pounds, the spot quotations of US cotton/Brazilian cotton/Australian cotton have been raised accordingly, so the ex-factory prices of cotton yarns in Vietnam, Pakistan, Indonesia, Thailand and other countries have been forced to follow suit; and since May, India’s domestic S-6/J-34 and other cotton Spot and cotton yarn quotations have both fallen, and the competitiveness of Indian yarn FOB/CNF quotations has further improved; on the other hand, the foreign exchange crisis alarm in Pakistan has not been lifted, and it is still very difficult for spinners to issue and receive letters of credit (very few textile companies can issue LC180 days letter of credit), to a certain extent, restricts Chinese traders and cloth factories from signing contracts to purchase Pakistani cotton yarn, while the import of Indian cotton yarn is very smooth and is not affected by other factors.
In addition, since April, the Zheng Cotton CF2309 contract has been advancing rapidly. Most cotton spinning companies have had to start raising cotton yarns under the premise that profits have been greatly compressed and even production and sales have been reversed. The price difference between customs-cleared Indian yarns and domestic cotton yarns has continued to narrow, which is also beneficial to foreign yarns. import.