The Willingness To Deeply Reduce The Quotation Of Imported Yarn Is Not Strong
In terms of high cost, stable domestic cotton market, and downstream printing and dyeing plants, cloth factories and clothing The enterprise's raw material inventory is not sufficient and other favorable support. Although the market demand is weak, the willingness to deeply reduce the quotation of imported yarn is not strong.
A trader in Foshan, Guangdong Province still quoted 22600-22800 yuan/ton and 25500-25700 yuan/ton for C21 and C32 Pakistani woven A-yarn; Indian C32 and JC32S cotton yarns are quoted at 25700-25800 yuan/ton and 28200-28400 yuan/ton, which has remained stable for a week. However, according to the market and downstream customers, the actual transaction price has dropped by at least 500 yuan/ton compared with the quoted price, the domestic transaction price of C32S Indian and Pakistani A-yarn has reached nearly 25000 yuan/ton, and some small brands of cotton yarn with poor cotton matching even dropped below 24800 yuan/ton. Two large importers in Ningbo, Zhejiang Province and Nanjing, Jiangsu Province reported that since November, the average daily turnover of C21 and C32 yarns has been about two counters, and the inquiry and transaction of ring spinning, siro spinning C16, C12S and C10S are worse, and even one counter can not be guaranteed to be sold a week. "Unable to move the goods" is the common feeling of importers. On November 10 and 11, the quotation of Indian brand A yarn OE21S and ring spinning C16S was 18600-18700 yuan/ton and 22000-22200 yuan/ton respectively, and on November 11, the quotation of American cotton yarn OE16S and OE21S after customs clearance was 18800-19000 yuan/ton and 19200-19500 yuan/ton respectively. Rotor spinning can partially replace ring spinning.
As ICE market is still in the downward phase of consolidation, the main contract in December may fall below 75 cents in the short term. In addition, USDA has raised the data of Indian cotton production in 2009/10-2012/13. Due to the large number of cotton picking and listing in India, the ex factory price of S-6 ginning plant has dropped to 40500 rupees/candy (82.8 cents/pound). The weak decline in cotton prices corresponds to the rise in Indian yarn inventory, The export demand weakened and the market price fell, especially the purchase demand from China. Therefore, on November 10 and 11, the export quotations of cotton yarns from India and Pakistan continued to fall. The CIF quotations of Indian C32S and C21S large enterprises and brand A yarns were concentrated at US $3.15-3.18/kg and US $2.92-2.95/kg; Some Indian cotton mills and exporters are eager to dump goods and recover funds. The quotations of C32S and C21S are lower than US $3.15/kg and US $2.90/kg.
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