Cotton companies each take a “one way”, and there is no improvement in the export of new cotton
As of October 27, the cumulative processing volume of cotton in Xinjiang has reached 1.25 million tons. With the increase in the amount of seed cotton purchased by ginning companies, lint processing The total volume has also increased steadily. However, from the perspective of spot transactions in the market, the willingness of supply-side ginning companies to negotiate with demand-side textile companies is low, and spot transactions are basically at a standstill. Since most of the country’s textile production capacity is concentrated in inland areas such as Shandong, Jiangsu, and Henan, in previous years new cotton came on the market and shipments to Xinjiang would gradually increase, but this year there has been no improvement.
According to some relevant companies, there are many reasons for the unusual lack of cotton exports from Xinjiang this year: first, it is difficult for downstream textile companies to accept high-priced new cotton in a short period of time, and downstream production and sales are not prosperous, lacking driving force; second Second, most ginning companies have not yet determined their shipping prices and are reluctant to sell until prices rise, making it difficult for industry players to define a relatively “reasonable” market price. Third, global energy is tight, gasoline and diesel prices have risen, and shipping costs out of Xinjiang have soared. The rising cost of moving warehouses to the mainland has also inhibited the purchasing enthusiasm of some mainland companies; fourth, the spot price of lint cotton is 2,000-3,000 yuan/ton with the CF2201 contract, the main force of Zheng cotton, and hedging registered warehouse receipts cannot be carried out smoothly, which inhibits the shipment of lint cotton to the mainland (in previous years During the same period, many companies moved lint cotton to the mainland for delivery and registered warehouse receipts); Fifth, the COVID-19 prevention and control situation in many places has recently escalated. The inspection process of logistics vehicles in and out of Xinjiang has increased, and the number of transport vehicles has decreased, which has also brought certain resistance to cotton leaving Xinjiang. .
According to estimates by some logistics companies, Xinjiang cotton shipments in October this year may drop by 50%-60% compared with the same period last year. Currently, the upstream is holding goods for sale based on cost, while the downstream is replenishing cotton raw materials based on sales and production. Price differences cannot be resolved temporarily and are also the most prominent factor affecting shipping transactions. Some companies also said that the power restriction requirements of some textile companies in the mainland have been relaxed recently, and the company’s startup rate has rebounded. If Xinjiang cotton is purchased intensively in the future, the lint shipment situation will improve.
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