China'S Main Port Bonded Warehouse Pressure Lightens Cotton Traders' Bearish Market ICE

According to some foreign businessmen, the main port free trade zones in China as of October 24th

The quantity is about 45-50 tons. In Qingdao, Zhangjiagang and Shanghai, the three major port bonded cotton stocks have dropped for three consecutive months, and the phenomenon of "cotton is in trouble" has been alleviated. Among them, the number of bonded cotton in Qingdao, Weifang and Zibo is still over 150 thousand tons, but it is mainly concentrated in the hands of several relatively large foreign and import trade enterprises. The number of bonded cotton inventory of small and medium-sized traders has dropped rapidly in 9 and October.

A large import and export company of Jiangsu and Zhejiang sold more than 20 thousand tons of India cotton, American cotton and West African cotton in September, and some cotton mills and trading companies in China received the goods in time, paying 40% customs duties in full at the price of 80 cents / pound.

It is understood that since mid October, Qingdao, Zhangjiagang and other places have a certain number of customs clearance India cotton, the United States cotton sales, a large part of it is not through the 1% tariff, sliding tariff or processing trade quota import, but to pay 40% tariff import.

Some importers say that the total import duty rate is about 82-83 cents / pound, which is basically the same as the price of customs clearance after the purchase of quota.

Since mid October, the price of ICE disk has continued to rise, breaking through the high point of 77.49 cents earlier, triggering a continuous increase in the price of cotton, West Africa cotton and Central Asian cotton in the sailing season, reducing the difference between domestic cotton and the domestic cotton, and reducing the price advantage of the outer cotton. Therefore, most foreign businessmen responded that, since mid October, there were very few cotton traders and traders in the inquiry, cable samples and orders, and the resistance to shipping cotton was heavier. In recent days, the price of ICE has declined.

The inquiry price of US cotton, Central Asia cotton and African cotton began to resume.

Generally speaking, the price of domestic bonded cotton, especially the RMB settlement quotation, is not greatly affected by the rise and fall of ICE disk. The main reference object is the trend of State purchasing and storage, domestic futures and electronic matching.

Since the first ten days of October, the price adjustment of SM grade cotton, cotton and cotton textiles has been only 100-200 yuan / ton, and foreign and large importers have been concentrated low price shipments in the first 9-10 months, plus some shipment contracts have been postponed to the first half of 2013. The pressure of capital flow has been alleviated to a certain extent, and the possibility of short selling is not great. But in the long run, most foreign investors are not optimistic about the first half of 2013.

It is believed that once the end of the purchase and storage of the Chinese government is concluded, the expected trend of both cotton and cotton going back to the bottom will be stronger.