According to feedback from cotton trading companies and weaving mills in Guangdong, Jiangsu, Zhejiang and other places, although domestic and foreign cotton futures have fallen violently since mid-June, domestic cotton yarn quotations have collapsed, and ship cargo/ The quotations of bonded and port-cleared foreign yarns have also dropped significantly, but the inversion of domestic and foreign cotton yarns has once again greatly increased. Except for some export-oriented and processing companies with export orders to Europe and the United States, they have to make inquiries and purchase cotton yarns from India, Vietnam, Malaysia and other places. The overall trading volume of imported cotton yarn is very light. Imported OE yarns and low-count ring spinning yarns (including Pakistani 8S-16S siro spinning) whose shipments in May were unsatisfactory have also seen a significant decline in recent inquiries and transactions and even “misfires”.
A medium-sized weaving factory in Zhejiang said that because the U.S. government not only imposed an import ban on Xinjiang cotton products, but also “dirty hands” on cotton from Uzbekistan and Pakistan, therefore Since June, the CNF/CIF quotations for cargo and bonded Uzbekistan cotton yarn have been significantly lower than those for Indian yarn and Vietnamese yarn. However, there are still very few cloth factories and middlemen who are willing to take advantage of low prices and open warehouses.
It is understood that due to the plummeting prices of ICE cotton and Zheng cotton, the prices of cotton and cotton yarn fluctuated rapidly. Cotton spinning mills and traders were unable to cope with it. A large number of cotton yarn traders In the past week, import and export companies have adopted a closed-up and reluctant-to-sell mode for cotton yarn spot goods at the port. They have temporarily not quoted external prices (with actual orders, buyers and sellers negotiate), waiting for the market situation to become clearer, resulting in Jiangsu, Zhejiang, Guangdong markets, India, Vietnam, etc. The inventory of JC32S and JC40S in the place of origin is artificially tight.
From the survey, considering that compared with cotton yarn from other Southeast Asian origins, Vietnamese cotton yarn has the advantages of slightly lower price, short transportation distance and better epidemic prevention and control. In addition, The United States has escalated its ban on Xinjiang cotton imports, so the shipment and arrival volume of Vietnamese yarn rebounded significantly in May and June.
