From the surveys of ports such as Qingdao, Zhangjiagang and Shanghai, the total amount of bonded cotton and customs clearance cotton in the port has declined from November, and the storage pressure has eased briefly.

Some international cotton merchants and importers estimate that as of mid-November, the total cotton stocks in Qingdao Port were about 25-270,000 tons, down 5-6 tons from the highest level in September/October.

First, not only the arrival of Australian cotton in 2019, the delivery quantity is lower than expected (the total production of Australian cotton in 2019 is “waist”, the quality and grade of lint is also very serious), and the price of Brazilian cotton in 2019 is high, Southeast Asian yarn mill Factors such as snapping and shipping schedules resulted in shipments and warehousing in October/November were lower than the same period of 2018/19;

Second, since mid-October, the domestic Zheng cotton has greatly increased the spot price of cotton, and the price difference between domestic and foreign cotton has increased. The port has a large amount of foreign cotton inquiries and shipments in bonded and customs clearance (mainly SM/M grade Australian cotton, Brazilian cotton, Indian cotton, West African cotton);

The third is the 2019/20 US cotton shipment, arrival in Hong Kong, "thunder thunder, small rain", mainly several large international cotton merchants in the sale of 10/11/12 shipping period US cotton (including Chenmian); Chinese buyers Although it is not good to hold the currency, but because the first phase of the Sino-US trade consultation agreement has not been signed, there is still a lot of change in whether or not to impose tariffs on imported US cotton. Therefore, the purchase order is difficult to hang.

It is understood that on November 11-12, Qingdao Port M 1-1/8 (SLM 1-5/32) Brazilian cotton, M 1-5/32 Indian cotton net weight quoted at 13100-13300 yuan / ton, 13200-13400 Yuan / ton (a few traders S-6 1-5/32 offer 13500 yuan / ton); while SM 1-5/32 Australian cotton net weight offer is as high as 15500-15600 yuan / ton (2019 new cotton).

Henan, Shandong, Jiangsu and other textile mills and middlemen said that although from the quotation point of view, the mainland library Xinjiang "double 29" machine picking Chen cotton and Indian cotton, Brazilian cotton prices are basically in line (currently "double 29" public quotation 13,000-13150 yuan / ton), but on the one hand, there are many batches of cotton clearance in the port, and the quality difference is large. The purchase buyer of more than 200 tons needs a number of traders to jointly scrape the goods. The consistency and stability of lint are not very satisfactory; In terms of port stocks, Indian cotton, West African cotton, and 2018/19 US cotton are mostly short in length (1-1/32, 1-1/16, 1-3/32) and low in breaking strength (26- 28GPT) and color grades are mainly SLM and M, which do not match the actual procurement needs of some large and medium-sized cotton mills. Therefore, the high and low quality foreign cotton shipments in the port can be described as very different, with high quality and high prices and relatively smooth transactions.