Insufficient transaction momentum in the cotton yarn market, spinning enterprises mainly destock, and partial transactions

In the cotton yarn market, the transaction momentum was insufficient, and the textile enterprises mainly destocked, and the transaction prices fell in some parts. At present, export orders are slowly recovering in a small amount, new orders for domestic demand are not many, and downstream prices are generally lowered, most textile companies are losing money, operating pressure is doubled, and inventories are still rising due to low start-ups. The downstream holiday phenomenon has increased, the purchase of cotton yarn is light, and the market has a strong off-season atmosphere. It is expected that the pure cotton yarn market will continue to be light, and the price will be weakened.　　 [Market Overview] 　　 Today, the spot price of cotton maintained a light transaction, with only sporadic transactions; yesterday night trading Zheng cotton futures fluctuated and closed down. CF2009 closed at 11,880 yuan/ton, down 10; CF2101 closed at 12,395 yuan/ton, down 10. Today, Zheng cotton futures oscillated and closed up. CF2009 closed at 11910 yuan/ton, an increase of 20; CF2101 closed at 12,435 yuan/ton, an increase of 30.　　 The price of direct-spun polyester staple dropped slightly today, and the mainstream transaction center of semi-gloss 1.4D is around 5700-5900 yuan/ton. The quotation of Hubei pure polyester sewing thread is stable, the mainstream price of Dayouguang 40S/2 loose tube is 14200-14800 yuan/ton, the quotation of polyester-cotton yarn in Fujian is stable, the mainstream TC65/35 32S is 14200-14300 yuan/ton.　　 The domestic downstream performance of viscose staple fiber was particularly sluggish, with 1.2D viscose staple fiber at around RMB 9,100/ton.　　 The prices of cotton yarn and rayon yarn dropped slightly, while the prices of other yarns maintained stable operation.　　 Today, the spot market for imported cotton yarns is lightly traded. Traders' quotations are mainly stable, and the actual transaction prices are partially down. At present, the port inventory is rising, the demand is weak, the market oversupply pattern is very obvious, and the cotton yarn market continues to be under pressure in the short term.　　 There is little change in the foreign market for imported yarns. The US dollar price remains stable, and some transactions continue. The price of Indian external disks is stable but weak. The price of C32S knitting in US dollars is about 2.24 US dollars/kg, and the RMB after tax is about 19,000 yuan/ton. Vietnam’s external US dollar prices remained stable, and some transactions in open-end spinning and carding continued. The factory’s OEC16S US dollar price was around US$1.55-1.57/kg, and RMB 1228-12.9 million/ton after tax. Pakistan's external price is stable but weak. The transaction price of the second-line Siro spinning C10S is about 340 US dollars/piece, and the RMB after tax is about 15,300 yuan/ton. The local market for Ba yarn has poor denim orders, and the towel industry is fair.　　 According to the China Textile City market transaction volume statistics, the total sales volume of grey fabrics today is 6.49 million meters, a decrease of 290,000 meters from yesterday. Among them, chemical fiber cloth sold 4.21 million meters today, accounting for 64.9% of total sales, cotton cloth sold 470,000 meters, accounting for 7.2% of total sales, and rayon cloth sold 740,000 meters, accounting for 11.4% of total sales. [Spread structure and arbitrage analysis] 　　 As of June 19, the domestic CY C32 price is 18,600 yuan/ton (-50), the Indian C32S price is 18,300 yuan/ton (0), the spread is 300, and the Vietnamese jet C32S price is 18,500 yuan/ton (0). ), the spread is 100, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On June 19, the contract price of cotton yarn 09 fluctuated and rose. The highest price was 19,320 yuan/ton, the lowest was 19,225 yuan/ton, and the closing price was 19,295 yuan/ton, up 15 points from the previous trading day. The open interest was 8,106, which was 103 hands less than the previous trading day.　　[Market outlook]　　The cotton yarn CY009 contract price fluctuated and rose today. In the cotton yarn market, the transaction momentum is insufficient, and the textile enterprises mainly destock, export orders are restored in a small amount, and the domestic demand orders are not much new. Downstream prices are generally lowered, and the off-season atmosphere is strong. It is expected that cotton yarn prices will run weakly. It is advisable for speculators to wait and see. (For reference only) Key words of the article: 　Cotton Yarn Market