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The cotton yarn market has improved slightly, and the overall market is still weak. Enterprises are currently destocking

by:Chengyi     2021-03-15
Although the overall trading of the cotton yarn market has improved, it is still weak, the market is fragmented, carded yarns are acceptable, the inventory of spinning enterprises is low, and the combed yarns are still poor. The inventory level of textile enterprises is relatively high, and some are gradually Converted to carded yarn. The current production loss of cotton yarn is serious, and the spinning enterprises maintain a low start-up.   [Market Overview]    Today, cotton spot trading is stable, and most of the pending orders are around 12750 in the CF2101 contract. Zheng cotton futures closed up in shocks. CF2009 closed at 12325 yuan/ton, up 35; CF2101 closed at 12,985 yuan/ton, up 35. Jiangsu direct-spinning polyester short semi-gloss 1.4D mainstream 5400-5600 yuan/ton, Hebei pure polyester yarn maintains stability, T32S mainstream 9300-9400 yuan/ton, Shandong polyester-cotton yarn negotiates for delivery, TC65/35 32S mainstream negotiates 13500-13800 yuan/ Ton.   The trading atmosphere of the rayon yarn market is fair, and the company's inventory continues to drop, 1.2D sticky short is 8,820 yuan/ton; the mainstream viscose market in the market is 8,600-8900 yuan/ton.   Today, the price of CY R30 except for rayon yarn is 11,800 yuan/ton, an increase of 50. The prices of the remaining yarns remained stable, and the yarn prices remained unchanged.   The spot market for imported yarns is generally trading, and the prices are mainly stable, and traders can deliver goods. There are occasional price increases in the market, but sales are not fast after the price increase. The main reason is that the inventory is still large and the market has failed to form a unified response to the price increase. The price of the external disk has risen, and the price difference between the internal and external prices has narrowed, forming a certain support for the spot price.   Today, the price of imported yarn on the outer plate is stable and strong, and the price of cotton yarn on the outer plate in India is on the high side. The price of C32S US dollars is 2.28-2.32 US dollars/kg, and the RMB after tax is about 1.88-19,000 yuan/ton. Vietnam's external disk prices remained stable, and some air-jet spinning products slowed down, and buyers continued to inquire, but there were fewer actual orders. C32S package bleaching prices in some factories are quoted at US$2.35-2.4/kg, and RMB 1.88--19,200 yuan/ton after tax. Pakistan's external disk prices remained stable. Pakistan's local demand weakened slightly this week. There was no significant increase in transactions in China. The second-line Siro textile C8S US dollar was quoted at US$350/piece, and the RMB after tax was about 15,500 yuan/ton.   Today, the price of grey cloth CG C32S is 6.32 yuan/meter, down 0.01, and the price of CG JC40 is 6.42 yuan/meter, down 0.01. The prices of the remaining grey fabrics remained unchanged.   China Textile City market transaction volume statistics show that the total sales volume of grey fabrics today is 5.72 million meters, an increase of 330,000 meters from yesterday. Among them, chemical fiber cloth sold 4.09 million meters today, accounting for 71.5% of total sales, cotton cloth sold 360,000 meters, accounting for 6.3% of total sales, and rayon cloth sold 360,000 meters, accounting for 6.3% of total sales. [Spread structure and arbitrage analysis]    As of August 26, the domestic CY C32 price is 18,440 yuan/ton (0), the Indian C32S price is 18,300 yuan/ton (0), the spread is 140, and the Vietnamese jet C32S price is 18,350 yuan/ton (0) , The spread is 90, and there is no arbitrage opportunity.   [Technical Analysis]    On August 26, the contract price of cotton yarn 01 rose slightly. The highest price of the day was 19,765 yuan/ton, the lowest price was 19,500 yuan/ton, and the closing price was 19,725 yuan/ton, an increase of 110 compared with the previous transaction, and the position held was 8,421, an increase of 98 lots compared with the previous trading day. From a technical point of view, the cotton yarn 01 contract price is under pressure on the Bollinger Middle Rail, which is in the weaker region of Bollinger Middle Rail and Lower Rail, and the MACD indicator speed line is below the 0 axis, and the short-term price is weak. [Operational suggestions] The spot transaction of cotton yarn has improved, the operating rate has been slightly increased to 41.7%, and the inventory of pure cotton yarn and grey cloth has decreased. Concerned about whether the price can rebound in the peak season of September, technically, the CY101 contract price has risen slightly, in the range of 19,000 -20150 yuan/ton; when the price rebounds to above 20150, the yarn mill can sell an appropriate amount of value for the inventory. Speculative customers rely on the lower edge of the range to support around 19000, participate in short periods, break 18900 stop loss, position within 20%, profit and loss ratio: 3:1. (For reference only) Key words of the article:   Cotton Yarn Market
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