The cotton yarn spot market is not selling well, and the spinning enterprises are mainly destocking mentality. It is expected that the fundamentals of cotton yarn will not improve in the off-season

The cotton yarn market has a sluggish transaction atmosphere, and the spinning enterprises have a mentality of destocking, and some low-price transactions have increased slightly. Due to the serious lack of orders, downstream procurement is cautious, and small-volume on-demand procurement is the main focus. In the off-season, the fundamentals of pure cotton yarn are difficult to improve, and it is expected to continue to maintain a weak trend.　　【Market Overview】　　 Today, the overall cotton spot trading remained stable and slightly improved. The cotton spot price transaction improved compared with yesterday, and the one-buy price transaction remained stable. Today, due to Zheng Cotton's decline, some of the cotton spot orders were swept away, and the willingness to trade at the current price is temporarily weak. Zheng cotton futures fluctuated and closed down yesterday. CF2009 closed at 12,120 yuan/ton, down 10; CF2101 closed at 12,715 yuan/ton, down 10. Today, Zheng cotton futures fell slightly. CF2009 closed at 11995 yuan/ton, down 135; CF2101 closed at 12,595 yuan/ton, down 130.　　 Today, the direct-spun polyester short quotes are slightly lowered, and continue to drop. There are fewer downstream orders, and most are in a wait-and-see situation. The semi-gloss 1.4D mainstream transaction center is around 5300-5400 yuan/ton. The price of pure polyester yarn in Fujian has fallen. T32S mainstream negotiating is 9200-9600 yuan/ton, and Fujian region polyester-cotton yarn is negotiating to sell goods. TC65/35 32S mainstream is 13600-13800 yuan/ton.　　 The quotation of viscose staple fiber was not adjusted yesterday, but the slack in the firm offer has further expanded, and rumors of low prices have also been increasing. Mid-range fiber fell to 8500-8700 yuan/ton, high-end fiber is still below 9000 yuan/ton, but the low-price rumors are further down compared with the previous period, and the lower rumor is about 8700 yuan/ton, which needs to be verified.　　 Today, the prices of various yarns are slightly lowered.　　 The spot market for imported yarns is lightly traded, and prices are stable but weak, with little change. The market is waiting for demand to recover. The current market inventory is high, and demand is weak, and the oversupply is very significant. The short-term price is expected to remain weak.　　 The price of imported yarns on the outer plate remained stable but weak, and the shipment situation did not improve after partial price cuts. The sales situation of downstream weaving mills in July was similar to that in June, and the inventory pressure was greater than in the previous period, before export orders were restored. India's external disk prices remained stable, with some yarn mills reporting US$2.25-2.28/kg for C32S, and RMB 1.88-1.91 million/ton after tax. Vietnam’s external quotations have remained stable, and some yarn mills are scheduled for carding until August. The negotiated price of C32S air jet is US$2.28-2.3/kg, and RMB 1.85-18.6 million/ton after tax. Pakistan's external disk prices remain stable. Traders' general-quality Sirotextile C10S is quoted at US$345-350/piece, and RMB 1.54-157 million/ton after tax.　　 According to the statistics of the market volume of China Textile City, the total sales volume of grey fabrics today is 6.76 million meters, a decrease of 140,000 meters from yesterday. Among them, chemical fiber cloth sold 4.89 million meters today, accounting for 72.3% of total sales, cotton cloth sold 340,000 meters, accounting for 5.0% of total sales, and rayon cloth sold 630,000 meters, accounting for 9.3% of total sales. [Spread structure and arbitrage analysis] 　　 As of July 14, the domestic CY C32 price is 18,580 yuan/ton (0), the Indian C32S price is 18,300 yuan/ton (0), the spread is 280, and the Vietnamese jet C32S price is 18,380 yuan/ton (0) , The spread is 200, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On July 14, affected by cotton prices, the price of cotton yarn 09 contract fluctuated and fell. The highest price was RMB 19,580/ton, the lowest price was RMB 19,295/ton, and the closing price was RMB 19,330/ton, down 220 points from the previous trading day. The open interest was 7,883, 46 hands less than the previous trading day.　　[Market Outlook]　　Affected by cotton prices, today's cotton yarn CY009 contract fell to 19,330 yuan/ton. The cotton yarn market is not well traded, and the textile enterprises are mainly destocking. Under the off-season market, the cotton yarn market is expected to operate weakly. Pay attention to the 19,000 line, and it is recommended that speculators go short appropriately. (For reference only) Key words of the article: 　Cotton Yarn Spot Market