Imported yarn quotations continue to rebound and traders’ confidence picks up
According to cotton yarn traders in Qingdao, Ningbo, Guangzhou and other places, domestic weaving factories and middlemen have significantly increased their inquiries and purchases of OE yarn and C10S-21S imported yarn since September. The situation has slowed down, and the weekly shipment volume of some merchants’ C21S and below cotton yarns has dropped from 5-8 containers to 2-3 containers (except Pakistan’s C10S and 16S siro spinning), which is mainly affected by seasonal orders and domestic cotton yarns. The impact of the impact; as for the C32S and C40S yarns for jet and rapier use in India, Pakistan, and Vietnam, not only the demand and trading volume continued to grow, but the quotation of spinning yarn also increased by about 500 yuan/ton. The buyers and sellers are in a stalemate, but traders There is generally sufficient confidence, and we are waiting for weaving mills and middlemen to take the initiative to place orders. On the one hand, since early to mid-September, the FOB, CNF, and CIF quotations of C21S-40S, JC21S, and JC32S yarn mills in India, Pakistan, Vietnam, etc. have bottomed out and have generally been raised. 0.10-0.15 US dollars/kg (some high-end yarns reported an increase of 0.20 US dollars/kg), while bonded yarn only reported an increase of 300-500 yuan/ton, which is easy for buyers to accept; on the other hand, since mid-September, Zheng cotton futures and reserve cotton transactions The average price and the spot price of cotton in 2016/17 have both risen sharply, and the costs of cotton textile mills have continued to rise; the rotation of reserve cotton ended at the end of September, but the difference between the average price of reserve prices and the spot price of new cotton is nearly 2,000 yuan/ton, so it is estimated that domestic production The price of yarn may increase significantly, and imported yarn will naturally “rise all boats”; furthermore, as of the end of September, the quantity of bonded yarn from India and Pakistan at ports is not large, and the inventory is low. The main reason is that India’s domestic cotton prices soared by 50-60% in July and August. %, the FOB and CNF quotations for far-month shipping dates have soared. The spot quotations of traders at ports such as Qingdao and Guangzhou are 0.15-0.20 US dollars/kg lower than the quotations of yarn mills in India and Pakistan. Weaving factories and middlemen are very cautious about imports. Enthusiasm for yarn inquiries and orders dropped below “ice level”.
Recently, some traders reported that the yarns ordered by a few traders for September/October shipments from India and Pakistan arrived at the port, and the contract prices of C21SA and C32SA were Generally, it is 2.45-2.50 US dollars/kg, 2.58-2.65 US dollars/kg. The customs clearance cost for C32S jet is about 20,500-20,800 yuan/ton, which will definitely relieve the pressure on traders who order imported yarn at high prices in July and August. An import company in Henan stated that the company had only ordered 300 tons of Indian yarn for September/October shipping. On the one hand, the price of C32S in India and Pakistan fell to 2.55-2.60 US dollars/kg, which triggered a large number of purchase orders. Not only China, but also Bangladesh , East Asia, and Southeast Asian countries are rushing to order, and low-priced Indian yarns are “more than enough”; on the other hand, due to the great uncertainty in the grade and quality of Indian and Uzbekistan cotton in 2016/17, the quality of cotton yarn mills and exporters Sellers cannot guarantee it, so Yuanyue “futures” yarn cannot be placed until after mid-November.
It is also understood that some weaving mills and traders are more enthusiastic about short-term purchases of bonded yarn spot and prompt shipment of cotton yarn, and port inventories continue to decline. trend. First, the price of S-6 old cotton in India continues to rise recently (rising to 92.30 cents/pound on September 23). The 2016/17 seed cotton and lint cotton are also “high”. Therefore, the FOB, CNF quotations still have rising momentum; secondly, China’s domestic demand for C32S and 40S has recovered in an all-round way, coupled with the surge in domestic cotton yarn, it is not a big problem for yarn prices to rise by 500-800 yuan/ton in the short term; 3. The quotations of port traders are once again “inverted” compared with the quotations of cotton mills and exporters in India, Pakistan and other countries. The bonded spot production dates are mostly from May to July, and indicators such as cotton distribution and spinning yarn quality of cotton mills are relatively stable. The quotations of imported yarn continue to rebound, and traders’ confidence is recovering.
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