External Cotton Accumulation Port, Current Sales Downturn

It is understood that the current international cotton traders and domestic large

The number of cotton textile mills and investigative institutions have a large number of differences in the number of bonded cotton and customs cotton in China's main ports. The data of foreign trade are generally 65-70 million tons of cotton in Qingdao, Shanghai and Zhangjiagang and other major ports, of which only the bonded cotton and non bonded cotton in Qingdao port reach 26-28 million tons (including the short term public warehouse as bonded warehouse). If the scattered stock in the surrounding Zibo, Yantai, Weifang and other bonded areas is scattered or up to about 350 thousand tons, there are also 13-15 million tons of cotton in the two port bonded depot of Shanghai and about 100000 tons of cotton in Zhangjiagang free trade zone.

However, after investigation by a domestic trading company and cotton manufacturers, the actual number of cotton outside the port is less than 500 thousand tons, of which Qingdao Port Bonded cotton and non bonded cotton are 20-22 tons, and Zhangjiagang and Shanghai ports are about 100 thousand tons.

It is noteworthy that, because the storage capacity of the main port free trade zones in China is already in an "overload" state, and the costs of storage and insurance continue to rise, and whether there is a greater uncertainty about whether the import quota of cotton will be increased, some international cotton traders are beginning to spread the storage area of US cotton, India cotton and new year's cotton to Malaysia, Indonesia, Vietnam, India and other countries to facilitate the port. On the one hand, it helps to avoid a large number of Chinese enterprises due to insufficient quota.

On the other hand, the storage cost of these ports is very low, and it is only 6-7 days from the port of Klang to China's main port, which can meet the needs of Chinese textile enterprises at any time.

On the 28 day, the price quoted by an importing cotton trader in Qingdao port is as follows: the price of India cotton S-61 - 1/8 is 17500-17600 yuan / ton; the price of C/A cotton SM1-1/8 "is quoted at 18200-18300 yuan / ton; the price of cotton EMOTSM1 1/8" is 18300-18400 yuan / ton, the price has not been adjusted with the small increase of the 27 ICE disk, but the cotton trader reflects that the cotton trade in the past two days is very unsatisfactory, and the main reason is the lack of cotton import quota.

A Shanghai import company reflects that the number of bonded cotton has reached about 30 thousand tons, but the cotton mill has little purchase of its own quota, and the number of pfer quotas in the market is even less. Even if the importer fails to pay 2000 yuan / ton, the average daily turnover of two or three counters is a drop in the bucket for the enterprises.

For the short term ICE trend, most of the international cotton traders are bearish, because the international market will maintain a large price difference with the domestic market to make the port 60-70 tons of cotton enter the Chinese market. Today's two USDA planting report and the EU summit will have a greater impact on the market.

And cotton enterprises rely mainly on wait-and-see and are reluctant to enter the market.