Data From General Administration Of Customs: China'S Cotton Import Volume Ranks First In Brazil

In November, China's cotton imports remained stable on a month on month basis, and a large number of Brazilian cotton arrived in Hong Kong. The cost performance ratio was advantageous, and the proportion continued to increase.

According to the data of the General Administration of Customs, China imported 110000 tons of cotton in November, a year-on-year decrease of 64.6%, and the month on month ratio was flat. Among the major import source countries, Brazil ranks first in cotton import, accounting for 64%; Australia ranked second, accounting for 20%; The proportion of American cotton decreased to only 5%.

From January to November 2024, China imported 2.48 million tons of cotton, a year-on-year decrease of 46.7%; Cotton yarn imports totaled 1.37 million tons, down 10.8% year on year.

In November, a large number of new cotton came on the market to supplement the supply of domestic cotton market. Downstream demand was flat, and cotton commercial inventory rose to a high level, with a substantial increase on a month on month basis. As of November 30, the commercial inventory of cotton nationwide was 4.674 million tons, an increase of 143000 tons on a year-on-year basis and 1.786 million tons on a month on month basis, up 61.9%. The cotton industrial inventory of textile enterprises in the warehouse was 925000 tons, with a year-on-year increase of 18000 tons and a month on month increase of 103000 tons.

Affected by the slack season of the cotton textile industry, downstream orders weakened, enterprises' purchasing enthusiasm for lint was not high, and domestic cotton prices fell in shock. Internationally, influenced by factors such as the US election result has been determined, the US dollar index has risen, and the US Department of Agriculture (USDA) report has lowered global output, the international cotton price fell first and then rose, and the difference between domestic and foreign cotton prices has narrowed.

The average monthly price of China's cotton price index (CCIndex3128B) was 15328 yuan/ton, down 1499 yuan year on year and 201 yuan month on month; Cotlook The monthly average price of Index A was 81.5 cents/pound, down 9.9% year on year and 2.5% month on month. The tariff price of 1% was 14286 yuan/ton, lower than the domestic cotton price of 1042 yuan, and the price difference was 98 yuan larger than the previous period.