Imported yarn: both volume and price fall, port inventory may continue to increase

According to feedback from cotton yarn trading companies in Guangdong, Jiangsu and Zhejiang, etc., from late January to mid-February, inquiries/shipments of bonded and customs-clea…

According to feedback from cotton yarn trading companies in Guangdong, Jiangsu and Zhejiang, etc., from late January to mid-February, inquiries/shipments of bonded and customs-cleared cotton yarns at ports were relatively active, and demand for yarns from Vietnam, India, Pakistan, Uzbekistan, etc. The momentum of phased recovery. On the one hand, after the Spring Festival, weaving enterprises in coastal areas quickly resumed work and production, the operating rate rebounded, raw material replenishment started immediately, and middlemen’s cotton yarn stocks were low, and their willingness to stock up increased; on the other hand, domestic cotton yarn after the holiday Prices are generally up 500-1,000 yuan/ton, while imported cotton yarns are generally stable and slightly stronger (except for Indian yarns). The price inversion of domestic and foreign cotton yarns has narrowed significantly. Terminal companies with export orders and rigid demand have expanded purchases.

However, in the past week or so, as the majority of orders have been short-term and small orders (some weaving, fabric, and clothing companies have completed pre-holiday orders), the “Gold, Three, and Silver” have not stimulated the market enough, and strong expectations have not been effective. As a result, the confidence of cloth mills has declined, and they have reduced or even suspended the purchase of cotton yarn. Therefore, not only the transactions of Pakistan and Vietnam Siro spinning have gradually weakened and faded, but the transactions of OE yarn, 40S and ring spinning have also touched the bottom. Top and fall.

Judging from the survey, due to the shock and decline of Zheng cotton and Zheng cotton yarns in recent days, the quotations of domestic yarns by textile enterprises and middlemen have been loosely lowered by 200-300 yuan/ton. Although the quotations of imported yarns have stabilized overall, traders have “hidden” With the increase in operations, only a few companies have directly lowered their yarn prices slightly in response to increased discounts and preferential margins for actual orders.

A light textile import and export company in Shaoxing said that except for the relatively strong quotations of OE yarns in Vietnam/India and other places on the market, other specifications and origins of cotton yarns are “increasingly low”. In the overall correction of ICE futures, Zheng cotton and terminal exports In an environment where orders are still weak, cloth factories and middlemen are also more aggressive in lowering prices, and traders are somewhat passive.

It is understood that since mid-February, the shipments of combed yarns produced in India and Vietnam have been lighter than OE yarns and carded yarns (the external quotations of Indian JC40S and above cotton yarns have been partially increased), and the accumulation rate of cotton yarn trading companies has increased, and funds have increased. Expansion of occupation. A cotton yarn import company in Qingdao reported that the quantity of Indian cotton yarn expected to arrive in Hong Kong in February/March is relatively large, mainly C20S-C40S carded yarn and JC21-JC32S yarn (including knitted yarn); while Vietnam, Indonesia, Thailand and other origins Cotton yarn shipments/arrivals are also showing a steady upward trend (expectations of a substantial recovery and full recovery in cotton yarn demand in the Chinese market in 2023 have led Southeast Asian spin mills and domestic traders to increase their efforts in foreign yarn shipments/purchasing), so foreign yarn ports Inventory will continue to increase.

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Author: clsrich