According to the feedback of some cotton trading enterprises in Zhangjiagang, Qingdao and other places, driven by the bottom rebound of ICE cotton futures since May 15 and the recent thunderstorms in the southwest cotton region and the Southeast cotton region of the United States, the sowing work is blocked, etc., the resource base of bonded cotton, spot and ship cargo and other US dollar quotes remain relatively strong, under the premise of high losses and insufficient spot supply of high-quality cotton at the port. Some cotton enterprises have a “one positive and one negative” operation in which high-index and high-grade American cotton and Australian cotton are selling while a large number of cotton from Turkey, Brazil, India, Africa, Mexico, Argentina and other producing areas are listed. In addition, with Zheng cotton futures ushered in the “five consecutive Yang”, the port of RMB resource base difference quotation (basis difference increase), the price of a small rise. Traders quote, shipment sentiment with ICE, Zheng mian both rebound and gradually stabilized, but the short-term goal of achieving profit is still not small pressure.

From the point of view of some cotton enterprise quotes, May 21-22 Qingdao Port bonded Brazil cotton M 1-5/32 (strong 28/29GPT, horse value 3.5-4.9) net weight quotes focused on 86.24-87.74 cents/pound (due to specific quality indicators, warehousing and traders accumulated costs are different), The import cost under 1% tariff quota is about 15065-15325 yuan/ton; On May 22, Henan, Shandong, Jiangsu and other places in the mainland warehouse 3129B (fracture specific strength 28/29CN/TEX) Xinjiang machine-picked cotton quoted about 16250-16550 yuan/ton (including warehouse receipt, the delivery fee is borne by the seller), considering the difference in net weight and public weight settlement. At present, the price of cotton inside and outside the same index under the 1% tariff is hanging 1200-1700 yuan/ton, which is about 200 yuan/ton more than in early May, but due to the limited number of cotton import quotas under the 1% tariff, the lack of new traceable orders and the total cotton inventory at the port is still about 600,000 tons, the customs clearance of bonded cotton is still slow.