The effect of price cuts by textile enterprises is not satisfactory, inventory is still rising, downstream orders are insufficient and it is difficult to improve in the short term, cotton yarn prices are expected to run weakly in the short term

The trading atmosphere in the cotton yarn market is sluggish, and the effect of price cuts by textile companies is not satisfactory, and the inventory is still rising. 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 has improved slightly. Today's purchase order is in the range of CF09 contract 11900-12050. Last night, Zheng cotton futures fluctuated and closed up. CF2009 closed at 12,080 yuan/ton, up 10; CF2101 closed at 12,670 yuan/ Tons, up 20. Today, Zheng cotton futures fluctuated and fell. CF2009 closed at 12010 yuan/ton, down 60; CF2101 closed at 12,575 yuan/ton, down 75.　　 Today, direct-spun polyester staples are negotiating to take the goods, the mainstream is 5250-5350 yuan/ton, the mainstream of Dayouguang 40S/2 pine cone manufacturers is 14000-14300 yuan/ton, and the inventory level varies greatly.　　 Today, 1.2D sticky short fiber is 8350 yuan/ton, and the low price policy of viscose staple fiber has increased. The mainstream market price has dropped to 8200-8500 yuan/ton.　　 Today, the prices of yarns of various varieties fall mainly, with the price of rayon yarn falling by 50 yuan/ton, and the price of pure cotton yarn falling by 50 yuan/ton.　　 Today, the spot market for imported cotton yarn remains stable, and the demand is generally weak. Traders are not shipping fast. Cloth mills have reported that foreign orders have recovered a small amount, but they have not been able to increase the volume at present. Traders are cautious and still have certain expectations for the recovery of demand in the market outlook. At present, the market is still significantly oversupply, and traders have more stocks, waiting for demand to recover. In addition. Domestic yarn stocks are also relatively high at present, and some prices are lower than imported yarns, and the price of imported yarns has little advantage.　　 The prices of imported yarns on the outer plate are stable but weak, and the continuous sluggish domestic downstream demand affects the order mentality, and the purchase of various varieties on the outer plate is light. Downstream fabric mills mainly purchase yarns on demand, and in the short term, the price of imported yarn in US dollars is still dominated by a weak trend. Indian external disk prices are stable but weak. Some traders OEC16S offer US$1.45/kg, and RMB 12,200/ton after tax. Vietnam’s external disk prices remain stable, and OEC16S can float between US$1.54-1.56/kg and RMB 1.25-12.7 million/ton after tax. Pakistan’s external prices remain stable, spinning mills are still operating at a high level of 70% to 80%. Trader Siro Spinning’s C10S quoted at US$350/piece, and RMB 15,600/ton after tax.　　 According to the statistics of the market volume of China Textile City, the total sales volume of grey fabrics today is 9.35 million meters, an increase of 1.47 million meters from yesterday. Among them, chemical fiber cloth sold 6.3 million meters today, accounting for 67.4% of total sales, cotton cloth sold 520,000 meters, accounting for 5.6% of total sales, and rayon cloth sold 1.05 million meters, accounting for 11.2% of total sales. [Spread structure and arbitrage analysis] 　　 As of July 24, the domestic CY C32 price is 18,550 yuan/ton (-5), the Indian C32S price is 18,300 yuan/ton (0), the spread is 160, and the Vietnamese jet C32S price is 18,380 yuan/ton (0). ), the spread is 170, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On July 24, affected by cotton prices, the contract price of cotton yarn 09 fluctuated and fell. The highest price was 19215 yuan/ton, the lowest price was 18895 yuan/ton, and the closing price was 18925 yuan/ton, which was a decrease of 140 points from the previous trading day. The open interest was 8,202, an increase of 131 lots from the previous trading day.　　[Market outlook]　　The closing price of cotton yarn CY009 contract today is 18925 yuan/ton. Spinning enterprises cut prices and sell goods, and inventories are still rising slightly. Weaving mills are more cautious in purchasing. It is difficult for the fundamentals of cotton yarn to improve in the off-season. The cotton yarn market is expected to operate weakly. The current yarn disk price is in a historical position. It is recommended that speculators pay attention to the pressure of 18900. Do more in moderation. Downstream companies can stock up on demand. (For reference only) Key words of the article: 　Cotton Yarn Market