The Price Difference Between India And The United States Widened

According to the quotations of Cotton Traders in Qingdao, Zhangjiagang, Guangzhou and other places, the current quotations of Indian cotton S-6 SLM 1-1 / 8 and S-6 SM 1-5 / 32 (strong 29gpt) are 11400-11500 yuan / T and 11800-12000 yuan / T respectively (some trade is reluctant to sell, and the quotation of SM 1-5 / 32 reaches 12100-12200 yuan / T), while the quotations of M 1-1 / 8 Brazilian cotton and M-6 SM 1-5 / 32 (strong 29gpt) are 11400-11500 yuan / T and 11800-12000 yuan / T, respectively On 31-3-36, the US cotton prices were 12600-12700 yuan / ton and 13100-13150 yuan / ton respectively. The price difference between Indian cotton and American cotton continued to expand to 1100-1200 yuan / ton, while the price difference between Brazilian cotton and American cotton was also widened to 450-550 yuan / ton.

A trader in Huangdao said that since the launch of the reserve cotton ship on July 1, the inquiry and shipment of foreign cotton at the port, whether bonded or customs clearance, has been cold, and even the relatively active low-quality and low-cost transactions in May / June have been obviously hit. In 2018 / 19 and 2019 / 20, Brazilian cotton, Indian cotton and American cotton have also been significantly hit. Cotton mills in Shandong, Henan, Jiangsu and other places have seen and placed orders, and have a strong wait-and-see mood 。 Although with the rise of ice and Zhengzhou cotton, some traders reduced the basis difference of Indian cotton (CF2009 + basis) in order to promote the volume and delivery of goods, the actual effect is not obvious. On the one hand, Indian cotton impurities are too large, and the consistency is poor. Most of the mills need to unpack, remove impurities and staple fibers. The production rate of cotton yarn is low, and the effect of cost reduction is not prominent; on the other hand, the cotton roller cotton is mainly in India Under the influence of the epidemic situation, we need to be more cautious in order to restore the quality of the new products.

According to the survey, although there are not many Indian cotton quotations in Port Bonded and June / July shipping in 2019 / 20 (quoted in US dollars) and the supply of goods is not sufficient, the quantity of Indian cotton for customs clearance is relatively large. With the gradual arrival of Australian cotton in 2020, the full promotion of the first stage trade agreement between China and the United States, the rotation of reserved cotton, and the large growth of Indian cotton planting area / output in 2020 / 21, etc The attack, traders have to compete for low prices to run goods.