Only Half A Month Outside Cotton Quotation Downward Float 600 Yuan / Ton New Cotton Pre-Sale Is Not Warm But Not Fire.

Traders in Qingdao, Zhangjiagang, Shanghai and other places responded to ICE's main contract breaking of 65 cents in recent days, port enquiries, shipments comparison, and Zheng cotton CF1909 contracts fell below 13000, the new low since mid June 2016 and so on. Since late May, the attitude of cotton traders to carry prices and prices has been shaken. The price of cotton quotations outside the Customs has been more obvious than that of ICE and Zhengzhou, and with the reserve cotton.

On 10 and 11 June, Qingdao port SM 1-1/8 cotton (strong 28GPT and above), SM 1-3/32 Australia cotton (strong 30GPT and above) net quoted price is concentrated in 14700-14800 yuan / ton, 16500-16600 yuan / ton, the real paction price also has 50-100 yuan / ton downward float; a few traders to speed up the withdrawal of funds, operation in 2019 cotton and Brazil cotton and the impact of the reserve cotton wheel, seize the sale of 2018/19 cotton in India, S-6 1-1/8, J34 1-1/8 and other low quality lint net quotations to 14300-14400 yuan / ton.

As a whole, in the past half a month, the quotation of cotton prices outside the customs clearance has been reduced by 300-600 yuan / ton, and the quality of high-grade cotton fabrics is not very large (such as 1-3/16, 1-5/32 and other Australian cotton), and India cotton and Brazil cotton, which are bonded and have a large number of customs clearance, have become the hardest hit areas.

Several international cotton traders said that the shipping date was mainly concentrated in 7-9 and 10-12 months in mid May, since the sale of cotton and Brazil cotton in mid 2019.

Although 800 thousand tons of quasi tariff cotton import quotas will be issued to textile enterprises in 2019, and ICE futures have fallen by 65 cents / pound, the enthusiasm of domestic textile enterprises and traders to inquire and sign contracts is lower than expected.

The analysis of life in the industry is that the Sino US trade war leads to a decline in the demand for high quality cotton consumption; two, the high base of Australia cotton in 2019 and the lack of attractive attraction to the textile enterprises; the three is that China's domestic cotton supply is adequate in the 6-9 months and the import supplementary effect is weakened; four, the devaluation of the renminbi is speeding up, which is not conducive to the import of cotton by the textile enterprises and importers.