Judging from the feedback from cotton yarn markets and weaving enterprises in Jiangsu, Zhejiang, Guangdong, Fujian and other areas, although ICE cotton futures/Zheng cotton have fluctuated significantly since late September, except for Indian compact yarn and carded yarn, the external/internal quotations have experienced a short period of time. In addition to the sharp decrease, the ship/port spot prices of Vietnam OE yarn, Uzbekistan cotton yarn, Pakistan 8S-16S Siro spinning yarn and other cargo/port spot prices have only slightly decreased or stabilized at a high level. The “paper” profits of yarn mills and traders have further improved, but The transactions and shipments of imported cotton yarn have not improved much with the arrival of the “Golden Nine and Silver Ten”, and the market performance is still relatively weak.
A textile import and export company in Hangzhou stated that the operating rate of weaving/garment companies in coastal areas rebounded in September (some large and medium-sized companies have returned to 75-80%), the RMB exchange rate has depreciated sharply, and the market quotation of domestic cotton yarn has not followed the rapid pace of Zheng Mian. The callback, coupled with the certain delay in shipping schedules due to floods in Pakistan, tight energy supply, and a high proportion of yarn mills in southern India that have reduced production and suspended production, exporters and cotton yarn traders are not eager to follow the trend of ICE and Zheng Cotton to reduce prices and sell goods, showing relatively strong performance. Strong resistance to falling.
A large weaving company in Shaoxing said that although the main ICE futures contract has fallen sharply recently, the inversion of domestic and foreign cotton prices has narrowed significantly compared with July/August (imported under 1% tariff), but the quotations of imported cotton yarn from India, Vietnam and other origins and domestic cotton yarn The price of inversion is still generally above 4,500 yuan/ton. Therefore, if you receive medium and long-term export traceability orders, the profit of purchasing foreign cotton spinning, weaving, and garments will be much higher. However, at present, export orders are mainly small orders, short orders, and urgent orders. (Traders in Southeast Asia and South Asia have also placed re-export orders to Europe and the United States in batches). Therefore, in order to meet the deadline and not delay delivery, they can only directly purchase high-priced imported cotton yarn to deal with it. However, the stability of yarn supply and consistency of indicators are affected. , you need to be very cautious when accepting high-cost and high-value-added foreign orders.
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