Pay Attention To The Current Spot Status Of Long Staple Cotton In The Market

From the quotation of some international cotton merchants and traders, up to now, the shipment of Pima cotton (especially SJV Pima cotton) in 2023/24 and the spot/shipment of long staple cotton such as Egypt's Jiza 86/Jiza 88/Jiza 90 are still very few. The price of long staple cotton in 2022/23 at each main port is "high in quantity", and the shipment is relatively scarce, showing a pattern of sharp decline in both supply and demand.

The price trend of long staple cotton is closely related to ICE cotton Zheng Mian obviously deviated (the main contract of ICE cotton in the last four trading days was "four consecutive negative", falling from 85.44 cents/pound to 79.30 cents/pound, and the strong pressure level of 80 cents/pound was opened again). The ship cargo, bonded cotton (quoted in US dollars) and the one time price of RMB did not fall in line with each other, but kept rising, and the price difference with fine cotton continued to widen.

A cotton trade enterprise in Zhejiang said that at present, long staple cotton at home and abroad is in an awkward and tangled state. Although there may be a certain decline in global long staple cotton production in 2023/24, there is also uncertainty about whether consumer demand can be sustained. Therefore, faced with exporters and traders insisting on maintaining high prices, cotton textile mills and middlemen hold more money to wait and see, and the phenomenon of long staple cotton with less market is prominent, How to break the situation needs to wait and see.

According to the survey, since the end of October, the net weight quotation of some traders' spot SJV Pima cotton 21-246/48 strength 42/43GPT long staple cotton (2022/23) is mostly 222-223 cents/pound, and the import cost under sliding tariff is 38800-39000 yuan/ton; The net weight quotation of spot SJV Pima cotton 21-248/50 strength 40/41GPT at the main port of China is as high as 230~231 cents/pound, and the import cost under sliding standard tariff is 40180-40360 yuan/ton. On November 1-2, Shandong, Jiangsu and other mainland warehouses 337/437 Qiangli 40/41CN/TEX long staple cotton offered 32200-33000 yuan/ton (31000-31500 yuan/ton for long staple cotton with lower quality indicators and slightly higher impurities), and 3138 Qiangli 42/42CN/TEX long staple cotton offered 34500 yuan/ton at the highest price.