According to feedback from some foreign trade companies and weaving companies in Shandong, Guangdong, Jiangsu and Zhejiang, etc., there has been a lack of export traceability orders since late October. In addition, most textile companies have significantly lowered the quotations of domestic cotton yarn (generally more than 1,000 yuan/ton, including imported ones). Affected by the influence of cotton with cotton yarn), port bonded, customs clearance cotton yarn inquiry and shipment performance continued to be weak, including the light transaction situation of Pakistan Siro spinning yarn, India/Vietnam 32S and above combed yarn, Vietnam C16-C40S knitting yarn, etc. no improvement. Because the effect of reducing selling is not obvious for some traders, “destocking” encounters resistance, so the pressure on short-term withdrawals and withdrawals of funds is relatively high.
A textile import and export company in Foshan, Guangdong said that since early November, the storage capacity of cotton bonded warehouses in some major ports in China has begun to run out, and the bonded volume of cotton yarn has continued to rise (the growth of cotton yarn originating in India and Pakistan was relatively prominent in September/October), and sales/exports have been obvious. Lower than expected, resulting in cotton yarn bonded, customs clearance inventory pressure is also very prominent. Some bonded warehouses with good locations and low fees in Qingdao, Zhangjiagang, Ningbo, Guangzhou and other places require cotton yarn trading companies to pay fees more than one month in advance.
It is understood that due to the sluggish demand for domestic cotton yarn consumption, the decline in the start-up rate and the successive declines in domestic cotton prices and ICE futures prices, some Indian yarn mills have recently begun price reduction sales, which has attracted the attention of some domestic weaving mills and cotton yarn traders. However, with Mainly holding the currency is waiting and watching, and the actual shipping orders are not active or enthusiastic. A company in Qingdao said that in the past week or so, the quote price of C16-C40 imported cotton yarn has been adjusted back to 500-800 yuan/ton (the fixed price of Indian-made jet-bleached C16S is 20,500-20,800 yuan/ton, tax included), plus warehousing costs And financial costs have accumulated, and traders’ losses have continued to expand. However, weak transactions and slow sales progress have normalized loss-making operations.
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