Outside The Customs Clearance, Cotton Is Very "Down", Port Storage Capacity Pressure Upgrading

According to the cotton trade feedback from Qingdao, Zhangjiagang, Ningbo and other places, during the May 1st period, the shipping date of the month and the price of bonded cotton dollar were adjusted downwards along with the ICE width, not only a certain amount of ON-CALL point price contract was concluded, but also the Chinese buyers were more active in inquiring and signing contracts, and the signs of "bottom picking" were obvious; while the quotations for cotton quotas outside the ports were mostly adopted on the basis of "CF2009+ basis"; plus crude oil futures. Up, so the impact of ICE's decline is not big, and the domestic and foreign cotton price trend is slightly away.

In May 7th, Qingdao port 2019/20 ME 31-3-36 (strong 28GPT), Brazil cotton M 36 (strong 28GPT) and India cotton M 1-5/32 (strong 29GPT) net weight quoted price were 12450-12500 yuan / ton, 12000-12100 yuan / ton, 11500-11600 yuan / ton respectively, in addition to the United States cotton before the fall 50-100 yuan / ton, India cotton price competitiveness continued to rise. On the one hand, India's domestic cotton consumption and exports stopped due to the closure of the country, and India cotton spot and MCX cotton fell again and again three; on the other hand, the S-6 of Gujarat in 2019/20 not only declined significantly, but also failed to meet the requirements of Chinese enterprises due to weather factors, and buyers were not interested in India's other regions and varieties of cotton. A trader in Jiangsu said that although India cotton quotations were lower than Brazil cotton 400-500 yuan / ton, lower than the US cotton 800-1000 yuan / ton, lower than the inland bank 3128B Xinjiang cotton 100-200 yuan / ton, cotton prices quoted more, but the textile factory is still not very cold, inquiry, see goods are not active.

Some cotton enterprises reflected that during the May 1st period, the turnover and shipment of Port Bonded cotton and clear cotton were slightly warmer than that in the middle of 4, but the overall situation was still "more in port, more warehouses and less outlets". The port bonded and non bonded cotton stocks continued to increase slowly. A logistics company in Qingdao believes that, as China began to sign a large number of contracts for importing US agricultural products (including American cotton) and international cotton producers to increase the intensity of the US cotton straight hair and port transfer, coupled with the expansion of domestic cotton supply and demand contradiction, the pressure of storage capacity of China's main cotton ports increased only in 5/6/7 months, so we urged some cotton enterprises with many years of cooperation to lease their spare capacity as soon as possible, so as to prevent the increase in storage fees and " The goods come to the ground and die.