RMB Appreciation Against The US Dollar: Domestic And Foreign Markets Resonate And Import Yarn Rises

Since the national day, ice cotton futures have risen sharply, and various contracts of Zhengzhou cotton have been "opened"; in addition, the purchase price of Xinjiang seed cotton continues to be high and go high, and all the way forward rapidly. Therefore, in recent days, not only the domestic cotton yarn, grey cloth and other terminal products have risen in response, but also some cotton mills, from the perspective of risk prevention and selling price, suspend and suspend the quotation of foreign cotton yarn and reduce the medium length Line to order, the market entered a deep game, delicate period.

Cotton yarn traders in Qingdao, Ningbo, Guangdong and other places reported that in the past week, not only the shipping prices of cotton yarn in India, Pakistan and Vietnam decreased in December / 1 / February, but also the quotations of bonded cotton yarn and customs clearance cotton yarn were greatly increased along with the cotton and cotton yarn futures. Some trading enterprises were worried about the difficulty of cotton mills and middlemen to accept the rise of yarn price and the difficulty in digestion, which would affect the medium and long-term cooperation As a result, the supply of cotton yarn and polyester cotton yarn on the shelf is obviously reduced, and even no quotation is given to customers.

A Shaoxing supply chain management company said that since the national day, the company's customs clearance of c20s-c40s Vietnam yarn, Pakistan yarn, Central Asia yarn quotation has generally increased by 400-500 yuan / ton; a small number of high-quality package bleached cotton yarn has increased by 500-700 yuan / ton, which is basically close to the domestic yarn; however, fabric factories and fabric enterprises are not smooth in inquiry and receiving goods, and even have a little resistance, so they still need to "trade time for space".

According to the survey, although the quotations of bonded and shipborne cotton yarn and polyester cotton yarn are continuously strong and supplementary, the contract procurement of Chinese weaving enterprises and cotton yarn traders is still relatively active (except for oe8s-oe12s rotor spinning), the main reasons are as follows:

First, the RMB appreciated sharply against the US dollar, and the cost of imported cotton and cotton yarn dropped rapidly. On October 9, the onshore exchange rate of RMB against the US dollar rose nearly 1100 points; in the session, it broke the 6.7 level, breaking the high point since April last year (the RMB exchange rate has increased by nearly 6% since June); second, the worry about the US government's extensive import ban on Xinjiang cotton products has made many export-oriented processing enterprises and foreign trade companies choose India Pakistan and Vietnam yarn in one step In addition, the foreign trade orders received by the textile and clothing enterprises in coastal areas continued to recover in September (short, flat and fast), so the purchase of imported cotton yarn transition, and the single order is reasonable. Some traders estimated that China's import of yarn to Hong Kong in September may be close to 165000 tons, with a month on month increase of more than 5%. This momentum of growth is still continuing in October.