China Cotton network news: According to the feedback of some cotton trading enterprises in Qingdao, Zhangjiagang, Nantong and other places, with the continuous shock rise of ICE cotton futures since late December, December 15-21, 2023/24 American cotton not only continued to increase the contract, but also the shipment reached a new high, coupled with the support of the previous week’s port price RMB resources, bonded cotton inquiries/transactions are now short-lived stabilization and rebound. In recent days, the phenomenon of “special price”, “price reduction package” and promotion of international cotton traders/trading enterprises has decreased significantly compared with November/December, and some cotton enterprises offer only for old customers, a single contract of more than 200 tons.

However, on the whole, due to the current cotton inventory in the main ports of China is still high and difficult, coupled with the large quantity of American cotton and African cotton for shipment in 12/1/2/ March, cotton enterprises above scale in Shandong, Jiangsu and Zhejiang, Henan and other places generally judge that the pressure of cotton merchants’ capital return is relatively large before and after the Spring Festival, so they still adhere to the principle of buying on demand and purchasing according to order, and have no plan to expand the stock quantity. Wait for January and February cotton trading enterprises to cut prices and run the opportunity to appear.

From the quotation of some international cotton merchants and trading enterprises, the net weight of the bonded Brazilian cotton M 1-5/32 (strong 28/29/30GPT) in Qingdao Port in the past two days is quoted 91-92 cents/pound, and the import cost under the sliding tax is about 15,930-16100 yuan/ton. And Henan, Shandong, Jiangsu and other internal storage “double 29″ Xinjiang machine cotton public weight offer 16600-16800 yuan/ton, taking into account the net weight, public weight settlement difference, the current Brazilian cotton and the same index of Xinjiang cotton along the hanging range has been enlarged to 800-1000 yuan/ton, some textile enterprises holding quotas above the scale of the port bonded cotton, the attitude of the spot continues to warm.

Source: China Cotton Information Center