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 far month and the price of bonded cotton dollar were adjusted downwards along with the width of ICE, not only a certain amount of ON-CALL point price contract was concluded, but also the Chinese buyers were more active in inquiry and signing, and the signs of "bottom up" were obvious; the quotations for cotton quotations outside the port were mostly taken as "CF2009+ basis". Coupled with the sharp rise in crude oil futures, the impact of ICE's decline is not large, and the trend of domestic and foreign cotton prices is slightly away.

In May 7th, Qingdao port 2019/20 ME 31-3-36 (strong 28GPT), Brazil cotton M 36 (strong 28GPT), India cotton M 1-5/32 (strong 29GPT) net weight quoted price 12450-12500 yuan / ton, 12000-12100 yuan / ton, 11500-11600 yuan / ton, 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 closed due to the closure of the country, and India cotton spot and MCX cotton fell again and again three; on the other hand, the output of Gubang S-6 in 2019/20 was greatly reduced, and the quality and grade could not meet the requirements of Chinese enterprises due to weather factors. Buyers were not interested in cotton and other cotton varieties in other areas of India. A trader in Jiangsu said that although India cotton quotes were lower than Brazil cotton 400-500 yuan / ton, lower than the United States 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 import a large number of American agricultural products (including American cotton) and international cotton traders 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 on storage capacity of China's main cotton ports increased only in 5/6/7 months. Therefore, some cotton companies with many years of cooperation were urged to lease their free storage capacity as soon as possible, in order to prevent the increase in warehousing fees and "goods arrived". The situation of "death on the ground" appears.