The cotton yarn market is lightly traded, and most of the textile companies destock at the same price. The order continuity of downstream weaving mills is poor, and the cotton yarn market is expected to remain weak

The cotton yarn market is lightly traded, the speed of goods delivery has slowed down significantly, the inventory is rising, and the price is steadily decreasing. In the off-season, most of the textile companies strictly control production and sales, with the mentality of destocking at the price. Downstream weaving mills have poor order continuity, regular production quality is maintained, and pure cotton yarn is purchased cautiously, and it is mainly used on demand. The overseas epidemic is still spreading, and the market is not optimistic about the market. It is expected that the pure cotton yarn market will maintain a weak trend.　　 [Market Overview] 　　 Today's cotton transactions, inquiries and pending orders are weaker than yesterday. The current pending orders are mostly at CF09 contract 11600 and below, and there are relatively few new pending orders. Yesterday’s night trading Zheng cotton futures closed up in shocks. CF2009 closed at 11,700 yuan/ton, up 35; CF2101 closed at 12,245 yuan/ton, up 30. Today, Zheng cotton futures closed up in shocks. CF2009 closed at 11,675 yuan/ton, up 10; CF2101 closed at 12,240 yuan/ton, up 25.　　 Today, the price of direct-spun polyester staples has fallen, the trading volume is thin, and there are too many shortages or no inventory temporarily. The mainstream transaction center of semi-gloss 1.4D is around 5500-5700 yuan/ton. The quotation of Hebei imitation Dahua yarn declined, T45S mainstream excluding tax was 9200-9300 yuan/ton, Shandong polyester-cotton yarn sales were flat, and TC65/35 32S mainstream reported 14000-14200 yuan/ton.　　 The price of viscose staple fiber is temporarily stable. The mid-range fiber price is 8700-8900 yuan/ton, and the firm offer is mostly loose. The price of high-end fiber is 9000-9100 yuan/ton, and the delivery is not smooth.　　 Entering the off-season, the prices of cotton yarn and polyester yarn fell slightly, and the price of rayon yarn maintained stable operation.　　 Today, the spot market for imported yarns is generally trading, the price is weak, and the market is under pressure. Traders generally say that the market is poor, and the partial price cuts continue to sell. In terms of costs, the current market inventory costs are divergent, and some costs are still very high. The cost of resources arriving in Hong Kong in June is relatively low, and the market prices are relatively chaotic.　　 Today, the price of imported yarn on the outer plate is stable but weak, India's price is lowered, and Vietnam and Pakistan's prices are stable. The Indian government has blocked 59 mobile applications in China. At present, China-India cotton yarn trade has no policy impact, and suppliers are still exporting to China normally. The price of Indian foreign currency US dollars was reduced by 1-3 cents/kg, and some small transactions were made. At present, the logistics of shipments to China is still operating normally. Among the new orders, there are more open-end spinning, and very few transactions for combed yarns. The local trader compact spinning JC26S quoted a price of US$2.35/kg, and RMB 19,900/ton after tax. Vietnam’s foreign currency US dollar prices remain stable. Trader C32S can float US$2.3/kg, and RMB 18,800 after tax. Pakistan's Sirotextile demand has not changed much. The first-line Sirotextile C10S of some traders is quoted at 360 US dollars/piece, and RMB 16,200 after tax/ton.　　 According to the statistics of the market volume of China Textile City, the total sales volume of grey fabrics today is 7.31 million meters, an increase of 640,000 meters from yesterday. Among them, chemical fiber cloth sold 4.83 million meters today, accounting for 66% of total sales, cotton cloth sold 420,000 meters, accounting for 5.7% of total sales, and rayon cloth sold 860,000 meters, accounting for 11.8% of total sales. [Spread structure and arbitrage analysis] 　　 As of June 30, the domestic CY C32 price is 18,590 yuan/ton (-10), the Indian C32S price is 18,300 yuan/ton (0), the spread is 290, and the Vietnamese jet C32S price is 18,450 yuan/ton (0). ), the spread is 140, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On June 30, the contract price of cotton yarn 09 fluctuated and fell. The highest price was RMB 19,150/ton, the lowest price was RMB 18,995/ton, and the closing price was RMB 19,010/ton, down 20 points from the previous trading day. The open interest was 8,434, an increase of 339 lots from the previous trading day.　　[Market outlook]　　Today's cotton yarn CY009 contract price fluctuated and fell. The cotton yarn market is lightly traded, and most of the textile companies destock at the same price. The continuity of downstream orders is poor, and the market is not optimistic about the market. Focusing on the 19,000 front-line support, speculators can go short appropriately. (For reference only) Key words of the article: 　 Cotton Yarn Market