Bonded Cotton Clearance 700 Yuan / Ton Monthly Cotton Traders "Face To Face"

In early August, the ICE cotton futures contract opened a key point of 60 cents / pound (low 57.26 cents / pound), a new low since April 2016. The shipping date for the far month and the price of the bonded cotton dollar fell sharply. The bonded cotton and customs cotton quotas were not "spared". Last week, the 600-700 yuan / ton was lower than in July July. Traders and middlemen not only increased their losses, but also increased the pressure on shipments.

On the one hand, Sino US trade war is hopeless at the end of the short term. The Trump administration has not only imposed a 10% tariff on China's imports of 325 billion US dollars since September 1st, but also threatened to cancel the Sino US consultations in September. China will be forced to carry out a strong countermove, and the trade war will not have much room for maneuver. On the other hand, the Renminbi suddenly broke through 7. On the premise that the Fed's water supply and trade wars and geopolitical conflicts are more intense, the path of RMB depreciation has opened, and the cost of imported cotton has risen sharply, which has continued to decline relative to the competitiveness of domestic cotton.

According to the survey, on August 10-12, the net quotations for the M 1-1/8 of Qingdao, Zhangjiagang, Guangzhou and other places in the bonded area 2018/19 1-1/8, Brazil cotton, SM 1-1/8, West African cotton (Cameroon, Burkina Faso, Benin, etc.) and S-6 1-5/32 were 12950-13050 yuan / ton, 13150-13250 yuan / ton, 13200 yuan / ton respectively, while the buyer had 1% quotas for cotton imports quota SM 1-1/8, the lowest price of West African cotton was 12500-12600 yuan / ton.

A large cotton trade enterprise in Qingdao has said that the operators are "facing the enemy from all sides" and the situation is not optimistic. For the sake of security, it is difficult; two, Zheng "CF1909" risks 12000 yuan / ton, Xinjiang cotton price base price and rapid reserve price of cotton reserves, bonded cotton and clean cotton have become "frightened birds". They are led by domestic cotton. Three, Australia cotton and Brazil cotton have been processed, shipped and arrived in port. Not only have quality advantages, but also the offer is very sincere, leaving no time to sell port or Brazil cotton, West African cotton and American cotton in 2018/19 port; four is 2019 sliding tariff, cotton import quota is still issued "rumors", cotton textile enterprises still have only 1% quotas available, and the number of inquiries is large and the number of real ones is small. First, the sharp fall of ICE triggered a sharp fall in the international cotton spot and far month shipping quotas, and traders' spot losses were generally above 10 cents / pound.