According to several international cotton merchants and importing companies, since the end of April, the inquiries and shipments of the bonded, spot and customs clearance quotations of cotton outside the port have continued to weaken in 2-4 months, except for S-6, Mexican cotton and black cotton. The Greek cotton quilt has a deal, the difference is strong, the US cotton, the Brazilian cotton and a few "high and cold" Australian cotton goods, the signing is relatively deserted. On the one hand, there is no timetable for the Sino-US trade consultations to be “dumped” and when the 800,000-scheduled tariff import quotas are issued. Therefore, textile enterprises and traders are increasingly cautious about the “overdraft” import quotas; The day started 1 million tons of reserve cotton, although the pressure is limited, but the results are effective. With the CF1909 contract of Zheng period, the integer mark of 16000, 15800, 15600 is broken, the ginning factory and the trader are “basis purchase” and “the price of the pending order”. The price of spot resources fell across the board, the price gap between domestic and foreign cotton continued to narrow, and the competitiveness of domestic cotton increased.

The cotton enterprises in Shandong, Jiangsu, Guangdong and other places said that the current number of cotton in Hong Kong and Macao is low and the price is high. The quality of Brazilian cotton is low and the price is not good. The amount of bonded cotton in West Africa and Mexico is insufficient. The difference between cotton in different batches and batches is relatively large. The purchase depends on luck. Although the Indian cotton has a large amount of inbound and bonded, the quality of S-6 and MCU5 can be higher than that of national cotton and real cotton, but CNF, CIF and other quotations are on the high side, and the profit of spinning cotton yarns of 40S and below is not high or even “upside down” (spinning cotton yarn of 40S or more needs to add a certain proportion of Xinjiang cotton, Australian cotton, American cotton or high quality Brazilian cotton, black cotton), so At present, only the 2017/18 and 2018/19 American cottons can meet the demand and yarn quality indicators. The current situation can only wait: First, we expect the Chinese and American negotiating parties to reach a consensus as soon as possible, sign the agreement, cancel the US Cotton imports are subject to a 25% tariff; second, waiting for the reserve cotton to start, hope to have a larger proportion of Xinjiang cotton, medium and high-quality real estate cotton, and effectively solve the problem of using cotton enterprises.

According to the survey, although the main contract of ICE futures has reached 78 cents/lb in a week, cotton, cotton, cotton, Indian cotton and other foreign cotton have once again reported a collective increase, but the RMB quoted price of the port customs clearance cotton has not performed consistently. The trend of strong external weakness is very prominent. April 25-28, Qingdao Port S-6 1-5/32 offer 15200-15400 yuan / ton to stabilize; SM 1-1/8 Brazilian cotton offer 15500-15600 yuan / ton, SM Mexican cotton offer 15100-15300 yuan / Tns, although there is great concern about the shipment of 1 million tons of reserve cotton out of foreign cotton, it is boosted by the import cost, external disk support and the quality of the national reserve cotton, spinnability or the inability to meet the demand of small and medium mills. In the short term, the willingness of traders to cut prices will not be strong. The mentality of "holding resources and watching them change" prevails.

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