The Number Of Bonded Cotton Increased And Why Cotton Was Not Salable.

On the one hand, the port free trade zone was significantly higher than the outbound warehouse, some warehouses even 2-3 days to produce a few lint; on the other hand, with the March. U.S.A The western coast of Long Beach, Losangeles and other ports to resolve the strike, the United States cotton shipments and arrivals began to exert force, Uzbekistan, Tajikistan and other Central Asian cotton are also pressing the shipment.

It is noteworthy that since April, China's domestic high-grade "no three silk" "low three silk" cotton supply is tight, 4/5 cotton for 2015 months in April is very few (mainly contract delivery), and there are still about 500 thousand tons of cotton import quota has not yet been used before the 1% tariff, the US cotton inquiry and transaction not only did not stride forward, but on the contrary, shipments were difficult or even once unsalable, so what caused the US cotton not to "go forward" and continue to compress India cotton, cotton and Central Asian cotton market share in China?

The main reasons are as follows:

First, with the shipment of American cotton into the middle and later stages, the cotton quality, especially fiber length, strength and horse value (B grade ratio) is less obvious than that of Xinjiang cotton and Brazil cotton.

Cotton mills in Jiangsu, Shandong, Henan, Hebei and other places indicated that the "cotton consistency", the short staple rate and the fiber length of 2013/14 and 2014/15 showed a downward trend, and the quality gap between Australia and cotton increased. The rate of American cotton short cotton delivered by individual cotton companies was even higher than that of Australia cotton 0.5%, and the results of the US cotton inspection results were much larger than that of the buyers themselves. At present, the number of bonded cotton in C/A SM and EMOT SM of each port is quite large, but the length is less than 1-5/32 and above. With the low cotton price now, the enthusiasm of American cotton processing enterprises and farmers is not high enough, and the phenomenon of international cotton merchants' consigning goods is also more prominent, and lint's "consistency" is not ideal.

Second, the United States cotton in offer There is no advantage. Uzbekistan, West African cotton and Brazil cotton gradually occupy part of the US cotton market. Brazil cotton is mainly composed of M and SM grades, and the grade and "consistency" have increased in recent two years, to a certain extent, to replace the middle and low grade cotton. Since April, as the port has cleared the price of high-grade cotton such as American cotton, Brazil cotton and Ukrainian cotton, the price of Xinjiang hand picked cotton has not been adjusted with the large fluctuation of ICE and Zhengzhou futures market. The quotations of C/A SM 1-1/8 and EMOT 21-3-36 are stable at 15900-16100 yuan / ton, 15700-15900 yuan / ton, higher than that of the inland warehouse 2128 grade Xinjiang hand picked cotton is nearly 1800-2000 yuan / ton, higher than SM 1-1/8, Brazil cotton and India cotton S-6 are about 500-700 yuan / ton, 2000 yuan / ton, which are higher than the cotton textile enterprises' bearing capacity. Therefore, purchasing Central Asian cotton and Brazil cotton very high grade West Africa cotton instead of middle grade cotton or become a trend.

Third, Imported The serious shortage of quotas restricts the activity of US cotton inquiry and transaction. According to the survey, as of the end of March, the import quota of cotton within 894 thousand tons and 1% tariff was issued in 2015, which has been used around 50%, and the quota is concentrated in the hands of large and medium-sized cotton textile factories and large import companies. Small and medium-sized cotton and cotton spinning enterprises have no quotas available. At the same time, the relevant state departments and customs have increased auditing and supervision over the import quotas of rent-seeking such as "proxy import" and "entrust import" since February, so that the behavior of buying and selling cotton quotas has been greatly reduced.

As most bonded cotton and port customs clearance, the source of cotton is concentrated in several large foreign businesses. cotton In the hands of business enterprises, small and medium-sized traders can only receive "second-hand" cotton, leaving the profit margins very narrow. Most of the textile enterprises with import quotas are directly ordered from the US origin and international cotton traders to reduce intermediate links. Traders can only take "moving bricks" and "splicing" as the main business.