The Sentiment Of Holding And Selling Of Port Cotton Trade

       According to the feedback of some cotton trade enterprises in Qingdao, Wuhan, Zhangjiagang and other places, affected by China's imposition of 15% tariff on American cotton and the continuous shock and decline of Zheng Mian Futures since the end of February, cotton enterprises have raised the RMB resource base of American cotton that has been cleared in China's main ports in recent two days, the range is mostly 200-400 yuan/ton. Compared with January and February The margin of large order customers has also narrowed, and even the sentiment of holding and selling has briefly risen.

Judging from the quotations of some cotton enterprises, the spot price of US cotton in Qingdao Port on March 5-6 is M The basis of 1-1/8 (strong 28GPT, horse value 3.5-4.9, benchmark CF2505) generally rose to 2400-2800 yuan/ton; RMB Meimian 31-3 The base difference of 36/37 (strong 29-30GPT, horse value 4.0-4.9) reaches 3100-3500 yuan/ton; RMB Meimian 21-2 The basis of 37 (strong 30-32GPT) rose to 3560-4000 yuan/ton, which was significantly higher than that of the previous period. The cotton related enterprises said that the price of American cotton was still rising unilaterally, and the inquiry/purchase follow-up of cotton using enterprises/middlemen was not obvious. The wait-and-see atmosphere at the demand side was thick, and the stalemate and game between the buyer and the seller were intense.

It is also understood that with the implementation of China's counter-measures against the imposition of tariffs on the United States, a temporary favorable situation has been formed for bonded American cotton at ports and spot American cotton (including the 2024/25 shipment of American cotton to the main port of China before April 12). Traders' list/quotation for American cotton has significantly decreased compared with January/February, and some cotton enterprises even hold back from selling. In consideration of avoiding the increase in raw material costs due to the imposition of 15% tariff on American cotton as much as possible, this week's inquiry/purchase of port bonded cotton and in transit cargo by cotton textile enterprises/traders in rigid demand who hold 1% tariff cotton import quota shows an obvious growth trend.

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Post time: 2025-03-07 17:32