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Market Situation: Medium And Long Staple Cotton Inventory Rises Slowly, And The Internal And External Price Difference Is Still High

2022/1/13 11:04:00 0

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According to the feedback from Cotton Traders and textile enterprises in Jiangsu, Zhejiang, Shandong and other places, since January, the quotation of long staple cotton for bonded and February / March shipment has increased significantly compared with that in November and December. The resources are mainly concentrated in the hands of several large international cotton merchants and import enterprises, mainly American SJV cotton, Israel Pima cotton and Peru Pima cotton, In 2020 / 21, there are few shipping quotations for Giza cotton in Egypt (Giza 86 and Giza 88).

A trader in Qingdao said that the number of imported medium and long staple cotton arriving at Hong Kong and put into storage recently showed a small recovery, but the quantity of SJV Pima cotton was relatively small. Sudan, the United States SJV, Spain and Israel had more medium and long staple cotton producing areas. Not only the single batch sales volume was low, but also the quality was somewhat poor. In 2021 / 22, the shipping date of SJV 21-2 / 21-3 38 / 39 was concentrated in February / March.

From the perspective of traders' quotation, the quotation of Israel Pima SM 1-7 / 16 39gpt (or Pima SM 1-1 / 2 40gpt) in Zhangjiagang Free Trade Zone on January 11-12 was 308.75-309 cents / pound; However, in 2020 / 21, the US SJV Pima cotton 21-248 will maintain at about 360 cents / pound; The price of Peru Pima m 1-1 / 2 (strong 34-35gpt) in 2019 / 20 is also nearly 350 cents / pound. Up to now, the net weight quotation of 21-248 Pima cotton in the United States is 56800-57000 yuan / ton (trader's one-off price), which is higher than that of Xinjiang long staple cotton 3137 (Qiangli 39 / 40cn / Tex) in the mainland, which is more than 8000 yuan / ton (considering the price difference between public weight and net weight).

According to the survey, although the port bonded and shipping quotation of long staple cotton have increased recently, the domestic cotton textile enterprises and traders have not made much effort to inquire / purchase, and continue the "warm boiled water" market. On the one hand, the quantity of medium and long staple cotton in port spot is small, with many producing areas and great quality difference; In 2021 / 22, SJV 21-2 / 21-3 38 / 39 is the main source of US cotton cargo; On the other hand, the global epidemic, the Federal Reserve's accelerated exit from QE and the expectation of three interest rate hikes in 2022 have led to the industry's lack of confidence in the growth of high-end high-value-added textile and clothing orders in the second and third quarters of 2022, and there are few operations to lock in the supply of long staple cotton raw materials in advance.