The Price Of The Bonded Warehouse Is Facing The Test.

According to the cotton traders in Qingdao, Zhangjiagang, Shanghai and other places, affected by the sharp decline of the ICE and Zheng's market in the past two days, the price of cotton dollar is reduced not only in bonded, spot and shipping dates, but also in the price of port customs clearance or bonded Brazil cotton, India cotton, West African cotton and Mexico cotton.

In September 18th, Qingdao port S-6 M 1-1/8, S-6 M 1-5/32 and M 1-1/8 Brazil cotton low price were 12100-12200 yuan / ton, 12300-12400 yuan / ton and 12500-12600 yuan / ton; some traders, textile enterprises M 1-5/32 Brazil cotton, S-6 M yuan quotation still stuck at 12800-13000 yuan / ton, 12900-13050 yuan / ton line, refused to easily reduce the quoted price.

A trading company in Qingdao said that the price of cotton quotas dropped by 150-250 yuan / ton compared with the first half of September, but the cotton textile mills and middlemen were still not active. On the one hand, the import quota of cotton within the 1% tariff was becoming scarce. Although the tariff quota was very high, the domestic and foreign cotton prices were upside down 500-700 yuan / ton (considering net weight and public price difference) after customs clearance. On the other hand, the auction of national cotton stores was the most important replenishment channel for cotton enterprises, followed by the Zhengzhou warehouse receipt and the 2018/19 Xinjiang cotton spot in CF2001, and once again, the purchase of foreign cotton "icing on the cake".

From the feedback of several foreign and large and medium-sized import enterprises, the growth of port cotton inventories has not been obvious since September. Only a small amount of cotton and West Africa cotton, and Australia cotton arrived in port in 2019, which basically offset the outgoing volume. Therefore, it is estimated that there will be about 43-45 tons of bonded cotton and customs clearance outside the port in September 15th, mainly in ports such as Qingdao, Zhangjiagang, Shanghai and Guangzhou, of which the total amount of 28-30 tons of Qingdao cotton (more than 300 thousand tons) is accounted for, accounting for 60%-70% of the total cotton stocks in the whole country. Considering that there will be new cotton shipments and arrivals in Brazil, the US cotton, the India cotton and the Central Asian cotton in the month of 10/11/12, the pressure of port storage will suddenly increase or even burst, and the number of bonded cotton is expected to continue to record high.