American Cotton Will Arrive In Hong Kong In Large Quantities, And There Is No Place To Store Them In The Warehouse?

 

A large import enterprise in Qingdao said that considering the sharp increase in the number of US cotton imports signed by Chinese buyers since mid April (net signing of us upland cotton of 95800 tons, 49300 tons and 44900 tons in 2019 / 20 in three weeks from April 17 to May 7, China still keeps a large number of contracts and ships from 5.8 to 5.14), with a total of nearly 300000 tons signed, and the main buyers are state-owned enterprises and central enterprises Import.

 

Affected by the epidemic situation, the cotton shipping and transshipment businesses at all ports in the United States are also affected to a certain extent. Therefore, the number of American cotton arrivals in 2019 / 20 from June to August depends on the shipping capacity of American cotton. However, considering that both China and the United States are actively and efficiently implementing the agreement, and more than 44 states in the United States have pressed the economic start-up button, the arrival volume of American cotton in China's main port from June to August may exceed 200000 tons.

 

From the perspective of recent quotation, the basis of a large cotton import enterprise has been significantly reduced (CF2009 + basis), and the intention of shipping is more obvious; other small and medium-sized traders are still in a wait-and-see state, hesitating whether to follow up. On the one hand, the price of ice cotton futures main contract has been rising continuously, and the trend of 60 cents / pound in the last test is obvious; on the other hand, according to the current domestic textile enterprises and middlemen With the replenishment mode of "buy as you use, see more and move less", it is difficult to stimulate the downstream purchasing desire. Therefore, a large number of short-term warehouse out, for the United States cotton to vacate the storage capacity of little hope.

 

Since the middle of May, some warehouses such as Qingdao and Zhangjiagang have reported that there is no storage capacity for storing cotton. Some cotton related enterprises and institutions have expressed their approval: first, in recent months, except for some Brazilian cotton and Indian cotton, other cotton output has been basically unsalable; secondly, several large state-owned enterprises, central enterprises and foreign businessmen have ordered the warehouse to "occupy the pit" 1-2 months in advance; thirdly, traders have turned to other ports Because of the low enthusiasm of warehouse moving, not only need to pay a series of fees, but also restrict the sales of cotton.