Outside The Port Cotton Shipments Warmer Textile Enterprises To Buy Cotton Spot Transition

According to the cotton trade enterprises in Qingdao, Zhangjiagang, Shanghai and other places, since the late October, domestic textile factories and middlemen have gradually increased their enquiries about the cotton and bonded cotton, especially the high-quality cotton products such as SM/GM, 1-5/32 and 1-3/16. Part of the trade cleared the warehouse in 2018/19, India, West Africa, Central Asia and Brazil, and the price difference between the offer and the actual transaction price was generally 50-100 yuan / ton.

Some traders have decided that the reasons for the recent shipments of cotton outside the port are as follows: first, since the late October, the cotton prices of zhengmian and domestic cotton have entered the rising channel, and the difference between domestic and foreign cotton prices has continued to expand, and the competitiveness of Brazil, India and Africa has been enhanced. Two, it has entered the month of 11/12, and the 800 thousand tons of sliding tariff tariffs have been issued in 2019. The cotton import quota needs cotton textile enterprises to digest. Three, before the middle of December, the quality of Xinjiang cotton in the 2019/20 year was very low, and the ginning factories and traders had a high risk of hedging, resulting in the high quality cotton supply "Xinjiang adequate and the mainland tight"; and four, the appreciation of the RMB against the US dollar was conducive to importing cotton and cotton yarn. Since September, the RMB exchange rate has bottomed out. In November 4th, the offshore renminbi rose to a higher level against the US dollar, rising to a maximum of 7.0229 yuan during the day, a step closer to 7.

Strong 28GPT) RMB net weight quoted price is 13150-13300 yuan / ton, 13200-13350 yuan / ton respectively, and S-6 1-5/32 (strong 28GPT) Renminbi quoted price 12900-13000 yuan / ton; and at present, the mainland "double 29" machine picking cotton weight quoted price is concentrated in 13200-13300 yuan / ton, higher than imported cotton 200-300 yuan / ton; in addition, in the past half month, the ICE futures market has continued to be in 63-65 cents / pound body consolidation, while domestic cotton spot holds strong upward, sliding tax 2019 next year, SM cotton (Brazil) and Xinjiang cotton "double 29" price difference has been reduced to 300-400 yuan / ton (considering net weight and weight settlement), textile enterprises use the sliding tariff quota purchase confidence to rise continuously. On 4-5 November, Qingdao port customs clearance S-6 1-5/32 (strong 29/30GPT), M 1-1/8 Brazil cotton (