According to feedback from some cotton yarn trading companies in Guangdong, Jiangsu and Zhejiang, etc., since weaving companies and printing and dyeing factories in coastal areas have been shut down for holidays since early to mid-January, cotton yarn inquiries and purchases have basically stagnated; while Vietnam, India, and Pakistan that arrived in Hong Kong in January and Uzbekistan and other producing areas are relatively concentrated, so the inventory of imported ring spinning resources at various ports continues to rise (the growth of C20S-C32S, JC21S, and JC32S is relatively obvious), and trading companies and middlemen are actively preparing for further improvement in consumer demand after the Spring Festival. prepare for.
A textile import and export company in Hangzhou judged that due to the onshore and offshore RMB exchange rates regaining 6.70 against the U.S. dollar (for the first time since July 2022), the price difference between domestic and foreign cotton yarn has narrowed significantly due to “rising internally and falling externally”, and the expected decline in 2023 In the first half of the year, export orders were boosted by the slowdown in interest rate hikes by the Federal Reserve and the reduction in the risk of global economic recession. The market expectations for imported cotton yarn after the Spring Festival are relatively optimistic. In addition, domestic cotton spinning enterprises and middlemen have become increasingly bullish on the price of cotton yarn after the holiday recently (several large and medium-sized yarn mills are expected to increase the price by 300-500 yuan/ton), which will have a greater stimulating effect on bonded and customs-cleared imported yarn. , although traders have increased inventories, they are not willing to ship goods in the short term, and they mainly stock up and wait and see.
Judging from the survey, due to the recent weakness and decline in domestic cotton yarn consumption demand in India, the rebound in cotton yarn quotations from northern spinning mills has “come to an abrupt end”. Therefore, in the past week or so, the price of Indian cotton yarn, regardless of shipment, bonded or customs clearance, has been stable to moderate. Weak; while Vietnam and Pakistan cotton yarns continue to consolidate at 80-85 cents/pound due to the ICE cotton futures market and imported yarn sales are “priceless”, the quotations are mainly stable, and the discount range is relatively low, but Uzbekistan, Azerbaijan, etc. The Central Asian cotton yarn cargo and spot quotations rose slightly following the domestic yarn. In comparison, imported knitting yarn, OE yarn and Pakistani siro spinning yarn in the Guangdong market will still become a breakthrough for traders seeking sales growth.
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