According to feedback from cotton yarn trading companies in Guangdong, Jiangsu and Zhejiang and other places, although the inquiry/shipment of bonded cotton yarn and customs-cleared cotton yarn at ports has been relatively slow since mid-August, some Indian cotton yarn traders have not even opened for more than a week, and the pressure on liquidity has gradually increased. However, due to the recent For more than a week, ICE cotton futures have been consolidating in the range of 110-120 cents/pound. Some yarn mills in India, Pakistan and other countries have a high proportion of production reduction and suspension, and the supply of cotton yarn has declined. Since May, the amount of imported yarn arriving in Hong Kong and warehousing has shown There has been a relatively sharp decline, so there are very few traders vigorously destocking and cutting prices to sell goods, and they are slightly more willing to raise prices and be reluctant to sell.
Cotton yarn operators in Foshan, Shaoxing and other places said that due to the recent low volume of high-quality, bleached and bleached sero spinning yarn from Pakistan, Vietnam and other producing areas, coupled with the continued depreciation of the RMB exchange rate against the US dollar, traders with goods generally closed their orders. Measures: No quotation or sales for the time being.
Weaving companies in Suzhou, Changzhou and other places in Jiangsu Province judged that although the sales of imported cotton yarn were “priced but not available”, the reasons why they still refused to clear their warehouses and ship the goods can be summarized as follows: First, the No. 9 typhoon “Ma’an” this year on August 25 Japan made landfall along the coast from Zhuhai to Zhanjiang, Guangdong. The high temperature weather in South China, East China, Central China and other places has temporarily come to an end. The power and production restrictions for cotton textile, printing and dyeing, clothing and other enterprises have been gradually lifted, and the consumer demand for imported cotton yarn has rebounded. Second, new cotton in the 2022/23 season in northern India and Pakistan has been gradually picked. Not only is it much earlier than in previous years, but the price of seed cotton has doubled compared with the same period last year. The price of new cotton is so high, and the domestic cotton prices in India and Pakistan have obvious support. , driven by high costs and declining production capacity, the room for price reduction of cotton yarn is very limited; third, all parties are still full of expectations for the “Double Festival” traceability orders in the European and American markets in 2022 (the situation of new export orders for foreign trade companies and textile and garment enterprises in coastal areas is relatively low Improvement in June/July), knitting yarn and blended yarn took the lead in recovering, and the operating rate of circular knitting machines rose to about 60%. According to industry analysts, the U.S. ban on Xinjiang cotton has stimulated China’s foreign yarn imports.