Domestic Market Demand For Yarn Is Stable And Price Is Weak.

The cotton yarn market is still in general trading, and the price is weak. In recent years, conventional combed yarn has been running at a faster rate, but the quantity is not large. European and American orders have not yet come to good news, the demand for pure cotton yarn is difficult to boost, and the comprehensive start-up of spinning enterprises is still at a low level, and the pure cotton yarn market is expected to remain weak.

[market overview]

　　 Today cotton spot business, enquiry list is still light. Today, cotton turnover is slack, and only a few Cotton Traders lock base sales are larger than a large number of cotton. Today, the mainstream market position is stable at 09 contract 11400-11600, and a small part of the list appears withdrawal. Today, Zheng cotton futures concussion rose, CF2009 closed 11800 yuan / ton, up 70; CF2101 received 12305 yuan / ton, up 55.

Direct spinning polyester and short price stability, negotiation to carry goods, half light 1.4D mainstream trading center of gravity maintained at 5700-5900 yuan / ton nearby. Fujian pure polyester yarn sales are not smooth, T32S mainstream quotation 9800 yuan / ton, polyester cotton yarn quotation stability, TC65/35 32S mainstream 14000-14200 yuan / ton.

Viscose staple fiber market this week generally stabilized, the factory quotes have not changed significantly, the mid range fiber quotation is more than 9000-9300 yuan / ton, high-end fiber maintain 9500 yuan / ton level.

　　 The cotton yarn market continues to be stable. At present, the production and sale of the cotton mill can not be smooth. But after the early signing, the inventory pressure is relatively low. At present, the downstream is more sensitive to yarn price and prefer low price goods. Cotton yarn, polyester yarn spot price stability, low price operation.

　　 At present, the imported yarn spot market is trading lightly, the price is stable, and the market is quiet. At present, the market demand is weak, demand has not yet seen significant recovery, persistence is unknown. But traders generally look forward to the resumption of European and American demand and the resumption of domestic market demand. Local demand is constantly increasing, and the demand for market speculation is better than the actual demand in the current period.

Today, the import and export business of the imported yarn has dropped slightly. Some factories and traders have improved their prices since last week. The price of India's external market is mainly stable, and the widespread artificial problems make it likely to drop further. The local factory C32S quoted us $2.18 / kg and RMB 18 thousand and 500 yuan / ton after tax. The price of Vietnam's external market is stable. Some factories have increased their stock prices since last week, and their inventories have declined. The partial C32S drifting dollar price is still 2.26-2.3 USD / kg, RMB after tax is about 1.85-1.89 yuan / ton. Pakistan Siro textile today's inquiry increased, local traders quoted price is still high. The second tier siro spinning C10S price is US $340-350 / kg, RMB after tax is about 1.54-1.59 yuan / ton.

　　 According to the volume statistics of China Textile City, the total sales volume of grey cloth today is 8 million 110 thousand meters, an increase of 1 million 150 thousand meters compared with yesterday. Among them, 5 million 10 thousand tons of chemical fiber cloth were sold today, accounting for 61.8% of the total sales, and 620 thousand tons of cotton cloth, accounting for 7.6% of the total sales, and 920 thousand tons of cotton cloth, accounting for 11.3% of the total sales.

Pricing structure and arbitrage analysis

　　 As of May 20th, the domestic CY C32 price was 18700 yuan / ton (0), the India C32S price was 18300 yuan / ton (0), the price difference was 400, there was no arbitrage opportunity.

[technical analysis]

　　 In May 20th, the price of cotton yarn 09 contract rose. The highest price is 19660 yuan / ton, the lowest price is 19305 yuan / ton, closing price is 19340 yuan / ton, compared with the previous trading day, it dropped 30 points and the position was 9061, which was 594 more than that of the previous trading day.

[outlook]

Today, the price of cotton yarn CY009 contract is down, and spot price is running weak. Polyester yarn and cotton yarn market remained stable. Short term inventory pressure is not high. Yarn prices are expected to be weak in the short term. It is advisable for speculators to wait and see. (for reference only)