Market Quotation: Long Staple Cotton Quotation Is Concentrated At 29800-30800 Yuan/Ton, Which Is Hard To Stop

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According to the feedback of cotton trade enterprises in Jiangsu, Shandong, Henan and other places, although Zheng Mian has entered the bottom rebound rhythm in the past week or more, the quotation of Xinjiang long staple cotton in warehouses inside and outside Xinjiang is still weak, continuing the downward trend, and the fear of ginning plants and traders in Xinjiang is rising.

From the quotation of some cotton enterprises, on May 23-24, the quotation of 436/437 long staple cotton (breaking specific strength 39-41CN/TEX) from Aksu regional supervision warehouse was concentrated at 29800-30800 yuan/ton; The quotation of non main grade long staple cotton is 28700-29500 yuan/ton; 336/337 long staple cotton (breaking specific strength 39-41CN/TEX) is quoted at 31000-31800 yuan/ton. The overall quotation of long staple cotton is about 200 yuan/ton lower than that in the middle of May. Although the decrease has narrowed, it is difficult to reverse the continuous decline.

According to the survey, in May, with the "small step fast walk" downward adjustment of the quotation of long staple cotton, Xinjiang ginning plants and traders continued to increase the number of long staple cotton orders placed on various e-commerce platforms and matchmaking markets. Cotton enterprises no longer held the market, refused to sell, and no longer held goods to sell up. The supply of long staple cotton in Xinjiang and mainland warehouses increased, but they tried to speed up the sales with long staple cotton enterprises In sharp contrast to Wei'an's enthusiasm for shipment, cotton using enterprises and middlemen are still very low in their enthusiasm for inquiry and delivery. Most of the long staple cotton resources in the mainland warehouse are sold in a cold manner, and the phenomenon of "less market with price, less demand with goods" is prominent.

In the second quarter of 2024, the performance of newly increased yarn count orders with high added value was significantly lower than expected (there were more and more "reduction" of yarn count in export traceability orders), the demand for 60S and above cotton yarn continued to decline, and it was difficult to stabilize and recover in the short term. On the other hand, although the quotation of long staple cotton in 2023/24 has been declining all the way, the sales progress of ginning plants is still lagging behind, and the domestic supply is sufficient. The cotton using enterprises have a prominent mentality of "buying up instead of buying down", hoping to sell at a lower and more appropriate price. Of course, in 2023/24, the "buy as you need replenish as needed" mode of domestic textile enterprises above designated size in purchasing long staple cotton will also make cotton enterprises feel "powerful and nowhere to use".