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Imported yarn is "strong outside and weak inside", and the bonded volume may gradually peak

Imported yarn is "strong outside and weak inside", and the bonded volume may gradually peak

(Summary description)According to cotton yarn traders in Guangdong, Zhejiang, Shandong and other places, domestic cotton yarn prices have been relatively weak since late October, and the cotton spot market has been sluggish.

Imported yarn is "strong outside and weak inside", and the bonded volume may gradually peak

(Summary description)According to cotton yarn traders in Guangdong, Zhejiang, Shandong and other places, domestic cotton yarn prices have been relatively weak since late October, and the cotton spot market has been sluggish.

Information

According to cotton yarn traders in Guangdong, Zhejiang, Shandong and other places, domestic cotton yarn prices have been relatively weak since late October, and the cotton spot market has been sluggish. The foreign yarn CIF, CNF and RMB quotations after customs clearance have remained stable. Foreign exporters, Importers are relatively calm, with wait-and-see sentiment as the mainstay. On the one hand, due to the large-scale cotton purchasing and storage of India’s CCI in various producing areas, and the price of MSP increased by 50 rupees/quintal compared to 2014 (at the current rupee exchange rate, the purchase price of MSP is about 64.5 cents/lb), plus the United States Rainfall in production areas, slowing of cotton picking progress, and not only a sharp decline in total production in Xinjiang, China, but also a reduction in the supply of high-quality lint by at least 30%, triggering ICE to continue to consolidate at 61-64 cents/pound; on the other hand Affected by the closure of 30% of Pakistan’s spinning mills and corporate strikes (the Pakistani government has raised taxes on imported cotton yarn by 10%, Indian spinning mills and exporters want to increase the export price of cotton yarn, which has caused some advance orders to face execution difficulties, and the conclusion of the TPP agreement has made Vietnam Enterprises have received the same treatment as Japan, Singapore and other countries, and the obstacles to exporting to the United States have been cleared. Therefore, Vietnamese yarn mills, cloth mills and garment factories have begun to deploy a larger “bureau”. Some Chinese traders predict that after December The "consignment volume" of yarn will gradually decline.

In late October, the quotations of C21S and C32S in China’s main ports in India and Pakistan were stable at 17,200-17500 yuan/ton and 18800-19200 yuan/ton; the quotations of C21S and C32 yarns from Vietnam’s origin were higher than those of India due to their cotton blending and better quality. Ba yarn is 200-300 yuan/ton; while the price of domestic cotton yarn is only adjusted by 100-200 yuan/ton following the stabilization of Zhengqi and domestic cotton stocks. The price difference between inner and outer cotton yarn is about 800-1000 yuan/ton. There are two comparatively different prices in the whole market. Obvious features: First, the arrival of JC21, JC26, JC30, and JC32S yarns has increased significantly compared with the previous period, while the arrival of cotton yarns in Pakistan, Thailand, Indonesia and other places below OE16S has declined; second, Chinese importers, The willingness of intermediaries to clear customs for cotton yarns is not strong, and the number of cotton yarns quoted in RMB has decreased, mainly due to the frequent fluctuations in the RMB exchange rate and the increase in transactions between buyers and sellers without tickets. On October 25 and 26, the CIF quotations of OE10S, ​​C21S, C32S, and JC32S produced in Qingdao Port in India were concentrated at 1.53-1.55 USD/kg, 2.12-2.15 USD/kg, 2.42-2.45 USD/kg, 2.68-2.72 USD/kg , The quotation is relatively strong, and the enthusiasm of spinning mills and exporters to adjust prices is not high.

According to the analysis of an importer in Guangzhou, the current foreign yarn market is also showing a pattern of "externally strong and internally weak" like the cotton market. Although the prices of CCI, Indian cotton and domestic cotton and cotton yarn are steadily rising, it still depends on the trend of China's domestic cotton prices. It depends on the affordability of the Chinese buyer. It is understood that as of the end of October, the quantity of bonded foreign yarns in China's main ports will exceed 100,000 tons, and some foreign businessmen and intermediaries estimate 102-1105 tons. However, the 32S, 40S, 50S combed yarns and high-quality yarns currently shipped in Hong Kong or on-the-spot are still mainly the products of Chinese companies in Southeast Asian countries. The proportion of foreign spinning mills without Chinese-funded background is not high (according to statistics, China In Vietnam, more than 50% of cotton yarn and grey fabrics are sold back to China. The quality, CV value and various indicators of 40S and below combed and carded yarns are not lower than domestic yarns. Cotton yarns such as India and Pakistan are easy to dye, The characteristics of high strength are relatively prominent, so the cotton yarn positions below 40S will not take too long to fall.

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