The overall cotton yarn spot market is poorly traded, the pace of destocking by textile enterprises has slowed down, and the cotton yarn consumption chain is weakly balanced

The overall cotton yarn market is poorly traded, and textile companies maintain slow shipments, and prices continue to be dominated by negative declines. It is reported that there are still orders for individual varieties in the Guangdong market, but they cannot support the overall market for pure cotton yarn. At present, there has been an increase in the phenomenon of reductions and shutdowns of textile enterprises, which is mainly manifested in the production of combed or high-count spinning enterprises, and the comprehensive inventory of textile enterprises is still accumulating. It is expected that the pure cotton yarn market will maintain a weak operation, and pay attention to the downstream situation.　　 [Market Overview] 　　 Today, the overall cotton spot transaction was deserted, the spot price fell sharply compared to yesterday, and the one-buy price transaction remained stable. The current raw material inventory of textile enterprises is low but the current purchase willingness is not strong. The more urgent and rigid orders are in the 11800-11950 range of the CF09 contract, and the number of orders is small; yesterday night Zheng cotton futures fluctuated and closed up, and CF2009 closed at 12,040 yuan/ton, up 45; CF2101 closed at 12,640 yuan/ton, up 45. Today, Zheng cotton futures fluctuated up. CF2009 closed at 12,080 yuan/ton, up 85; CF2101 closed at 12,670 yuan/ton, up 75.　　 Today, the direct-spun polyester short quotes are slightly lowered, and continue to drop. There are fewer downstream orders, production and sales are light, and the semi-gloss 1.4D mainstream transaction center is around 5250-5350 yuan/ton. The quotation of Hebei pure polyester yarn is lowered, and the T32S part is lower at around 9000-9200 yuan/ton. Fujian pure polyester yarn is negotiating for delivery, and T32S mainstream negotiating is 9200-9600 yuan/ton.　　Viscose staple fiber has worsened yesterday. The high-end fiber maintains a higher price of 9,000 yuan/ton. The room for firm negotiation is expanded, and the lower price is the same as the firm price of mid-range fiber. The mid-range fiber is also relatively weak, and the mainstream price is not higher than 8,600 yuan/ton.　　 Today, the prices of carded 32-count cotton yarn, pure polyester yarn, and rayon yarn have fallen, while the prices of other yarns are weak.　　 The import cotton yarn market is lightly traded, and the price is weak. The current market demand is very weak, oversupply and downward pressure continue, and prices are falling as a whole. There are no bright spots in market demand, and they are consistently weak. The fabric factory started operating at a low level, and orders showed no signs of recovery.　　 The foreign trade of imported yarn continued to be lightly traded, the US dollar price remained stable, and it was still difficult to ship at concessions. There were only a small number of transactions. At present, downstream orders have not improved. Traders and factories strictly control cotton yarn inventory. The prices of external disks in India remain stable, and the demand for rotor spinning in China is relatively poor. Some traders JC21S quoted a price of US$2.25/kg, and RMB 18,800/ton after tax. Vietnam’s external quotations remain stable, with some OEC21S negotiated prices at US$1.67/kg, and RMB 13,600/ton after tax. Pakistan’s external disk prices are mainly 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 7.19 million meters, an increase of 430,000 meters from yesterday. Among them, chemical fiber cloth sold 4.93 million meters today, accounting for 68.6% of the total sales volume, cotton cloth sold 400,000 meters, accounting for 5.7% of the total sales volume, and rayon cloth sold 750,000 meters, accounting for 10.4% of the total sales volume. [Spread structure and arbitrage analysis] 　　 As of July 15, the domestic CY C32 price is 18,575 yuan/ton (-5), the Indian C32S price is 18,200 yuan/ton (-100), the spread is 375, and the Vietnamese jet C32S price is 18,400 yuan/ton ( 20), the spread is 175, and there is no arbitrage opportunity.　　 [Technical Analysis] 　　 On July 15, affected by cotton prices, the price of cotton yarn 09 contract fluctuated and rose. The highest price was 19460 yuan/ton, the lowest price was 19315 yuan/ton, and the closing price was 19410 yuan/ton, an increase of 80 points from the previous trading day. The open interest was 7,830, a decrease of 99 lots from the previous trading day.　　[Market outlook]　　Affected by cotton prices, today’s cotton yarn CY009 contract 19,410 yuan/ton. The cotton yarn spot market is not well traded, the pace of destocking by textile enterprises has slowed down, and the cotton yarn consumption chain has reached a weak balance. In the off-season market, the cotton yarn market is expected to maintain stable operation, and it is advisable for speculators to wait and see. (For reference only) Key words of the article: 　Cotton Yarn Spot Market