The cotton yarn market is relatively deserted, and the spinning enterprises are mainly de-stocking mentality, and the phenomenon of downstream reduction and production stoppages increases. It is expected that cotton yarn will run weakly in the short term

The cotton yarn market has no obvious changes in trading, and the market is still relatively deserted. The spinning enterprises have a mentality of destocking, and prices are more negotiable. The phenomenon of downstream production cuts and shutdowns continues to increase, further reducing the demand for pure cotton yarn. At present, cotton yarn spinning enterprises have not seen general reduction and shutdown actions, and the comprehensive inventory is still rising. It is expected that pure cotton yarn will maintain a weak operation. [Market Overview] 　　 The overall cotton spot trading today is weaker than yesterday, and the current point-price purchases just need pending orders are mostly in the 11700-11900 range of CF09 contract; today Zheng cotton futures fluctuated up, CF2009 closed 12080 yuan/ton, up 100; CF2101 closed 12655 Yuan/ton, up 85.　　 Today, the direct-spun polyester short quotation fell and it was difficult to sell goods. The mainstream transaction center of semi-gloss 1.4D was around 5200-5300 yuan/ton. The price of pure polyester yarn in Fujian remained stable, with T32S mainstream at 9200-9600 yuan/ton, while the price of polyester-cotton yarn in Hebei declined, while TC80/20 32S mainstream at 10700-11300 yuan/ton excluding tax.　　 Today's 1.2D is short of 8,500 yuan/ton. It is expected that the market’s previous wait-and-see sentiment will come to an end, and a concentrated transaction period may enter. The price of other mid-range fibers was still around 8,500 yuan/ton yesterday and is expected to be adjusted downwards.　　 Today, the prices of yarns of various varieties have maintained stable operation, and the price of rayon yarn has fallen by 15 yuan/ton.　　 Today, the spot market for imported cotton yarn is generally trading, and the price is mainly stable. Traders' shipments are still slow, and the downstream start-up recovery is not significant. The cotton yarn inventory in the market is still relatively high, and the weak domestic yarn prices have kept traders under pressure. Today, the external price of imported yarn is mainly stable, and a small amount of transactions are held in India. Most areas in India are again blocked. The external price of Vietnam is mainly stable. Some traders offer good quality OEC21S in USD 1.71/kg, RMB after tax. About 13,900 yuan/ton. Pakistan’s external disk prices remain stable, and local traders’ second-line Sirofang C8S quotes are US$345/piece, and RMB 15,400/ton after tax.　　 According to the statistics of the market volume of China Textile City, the total sales volume of grey fabrics today is 7.17 million meters, an increase of 270,000 meters from yesterday. Among them, chemical fiber cloth sold 5.18 million meters today, accounting for 72.2% of total sales, cotton cloth sold 370,000 meters, accounting for 5.1% of total sales, and rayon cloth sold 680,000 meters, accounting for 9.5% of total sales. [Spread structure and arbitrage analysis] 　　 As of July 21, the domestic CY C32 price is 18,560 yuan/ton (0), the Indian C32S price is 18,300 yuan/ton (0), the spread is 260, and the Vietnamese jet C32S price is 18,400 yuan/ton (0) , The spread is 160, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On July 21, affected by cotton prices, the contract price of cotton yarn 09 fluctuated and rose. The highest price was 19425 yuan/ton, the lowest price was 19215 yuan/ton, and the closing price was 19305 yuan/ton, an increase of 40 points compared with the previous trading day, and the holding volume was 7,772, which was 85 hands less than the previous trading day.　　[Market outlook]　　The closing price of cotton yarn CY009 contract today is 19305 yuan/ton. The cotton yarn spot market is still poorly traded, and the spinning enterprises have a serious mentality of destocking. Insufficient orders from downstream weaving mills and increased production cuts and production stops. The cotton yarn market is expected to run weakly. Focusing on the 19200 frontline, it is recommended that speculators go short appropriately. (For reference only) Key words of the article: 　Cotton Yarn Market