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According to the feedback of some cotton yarn trading enterprises in Foshan, Guangdong and Shaoxing, Zhejiang, the quotation performance of imported cotton yarn and blended yarn is very disappointing in the past half month, and some do not understand. From May 15 to May 28, ICE cotton futures rebounded sharply, the main 7 contract rose from 73.68 cents/pound to 83.19 cents/pound, an increase of 9.51 cents/pound, Vietnam, Pakistan, Indonesia, Uzbekistan and other countries, although the cotton mills and exporters are more willing to rise. However, in addition to the tentative increase of FOB/CNF quotation of cotton yarn by a few brand manufacturers, most textile enterprises have a strong wait-and-see atmosphere, and yarn prices are "standing still".
As ICE cotton futures hit the top dive last week, the July contract even broke 80 cents/pound, 75 cents/pound, and even broke the new low of 72.26 cents/pound since November 2022, Vietnam, India and other countries cotton mills bonded, spot and far month shipping cotton yarn quotes were quickly adjusted downward, making cotton yarn exporters and traders a little unprepared. I feel flustered. On the whole, the outer cotton yarn/blended yarn quotation compared with ICE cotton futures is prominent in the trend of "following the fall and not following the rise, and not following the next".
A medium-sized textile export company in Hangzhou said that ICE experienced a "roller coaster" market in a short period of two weeks, making cotton yarn traders generally feel at a loss, yarn quotes once follow ICE "fast rise and fall", or lead to a large loss of customers such as downstream weaving factories/fabric/clothing enterprises and middlemen. And with the decline of the ICE plate, the quotation of foreign cotton mills/exporters in dollars, the willingness of cloth factories and other terminals to accept yarn prices has declined rapidly, and the operation of pressuring prices and pressuring procurement is also very fierce.
From the survey point of view, since the end of May, in addition to Pakistan's low count Siro spinning, ring spindle spinning quotes continued to stabilize, Vietnam yarn, Indian yarn, Central Asian cotton yarn quotes once again entered the "fall and fall" channel, not only a large part of cotton yarn trading enterprises, middlemen losses continue to expand, Moreover, the phenomenon of cotton yarn procurement on credit at the demand end such as cloth factories in coastal areas and 1-3 months 'account period has gradually increased, and the situation of traders with high imported yarn inventories has worsened.
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