Downstream Orders Are More Difficult To Recover In The Short Term, Weaker Yarn Trading And Weaker Price.

The market of cotton yarn has been differentiated, the demand of regular comb varieties is still good, the stock of spinning enterprises is tight, the remaining varieties are light, the price is stable and weak, and the spinning enterprises are more strict in controlling inventory. At present, the apparel orders in Europe and the United States are hard to improve in the short term, while the traditional off-season is coming, and the pure cotton yarn fundamentals are empty, and the pure cotton yarn market is expected to remain weak.

[market overview]

　　 Today, cotton spot trading is light, spot price inquiry sheet air is weak; Zheng cotton rose, cotton spot price, resource demand has improved, turnover is better. At present, the non emergency list is mostly in the CF09 contract 11350-11500, and the emergency list is mostly in the CF09 contract 11650 or above or the current price. Today, Zheng cotton futures concussion rose, CF2009 closed 11740 yuan / ton, up 45; CF2101 received 12270 yuan / ton, up 45.

Direct spinning polyester and short price increases, preferential goods, half light 1.4D mainstream trading center of gravity maintained at 5700-5900 yuan / ton nearby. Hebei pure polyester yarn price stability, T32S mainstream quotation in the vicinity of 10000 yuan / ton, Fujian polyester cotton yarn price stability, TC65/35 32S mainstream 13900-14200 yuan / ton.

Viscose staple fiber market continues to stalemate, mainstream factory prices are stable at 9300-9600. The acceptance of the price is not strong, and some of them just need to be satisfied by traders.

　　 There is a weak atmosphere in the cotton yarn market, and the price of local yarn has been increased due to the rising price of raw materials. Other yarns are stable and stable.

　　 Today, the import market of cotton yarn is still light and the price is stable and weak. The main reason is that the cost of port has declined, and traders still have partial profits. In terms of market demand, the start-up of the cloth factory is maintained as a whole. The market is not much improved, but the market is obviously better than that in April.

The price of imported yarn is stable today, and the turnover is light. India and Pakistan are starting to recover faster, but the new orders are still not optimistic. Textile and garment export orders are difficult to recover in the short term, and import market demand is unlikely to improve. The price of India's external market is stable, and the demand for combed yarn has been weakening recently. At present, the cotton mill can cope with manual problems, and the load increases. The local factory OEC16S 1500csp price is quoted at US $1.58 / kg and RMB 13 thousand and 100 yuan / ton after tax. The price of Vietnam's external market is steady, and the goods are still slow. The cotton mill has a pessimistic view of the market demand. After the appreciation of the exchange rate today, there are a small number of 21 parts spinning locally. C32S the price of the rapier is US $2.18 / kg, and RMB 18 thousand yuan / ton after tax.

　　 According to the volume statistics of China Textile City, the total sales volume of grey cloth today is 7 million 10 thousand meters, an increase of 810 thousand meters compared with yesterday. Among them, 4 million 440 thousand tons of chemical fiber cloth were sold today, accounting for 63.3% of the total sales, and 460 thousand tons of cotton cloth, accounting for 6.6% of the total sales, and 740 thousand tons of cotton cloth, accounting for 10.6% of the total sales.

Pricing structure and arbitrage analysis

　　 As of June 2nd, domestic CY C32 price was 18700 yuan / ton (0), India C32S price 18300 yuan / ton (0), price difference 400, Vietnam jet C32S price 18480 yuan / ton (-20), price difference 220, no arbitrage opportunities.

[technical analysis]

　　 In June 2nd, the price of cotton yarn 09 contract rose. The highest price is 19550 yuan / ton, the lowest price is 19250 yuan / ton, closing price is 19360 yuan / ton, compared with the previous trading day, it increased by 45 points and the position was 8537, which was 223 more than that of the previous trading day.

[outlook]

Today, the price of cotton yarn CY009 contract rises, and cotton spot demand is light today. Cotton yarn market differentiation, regular comb demand is better, the other varieties of price weakness leading. At present, the apparel orders in Europe and the United States are hard to improve in the short term, while the traditional off-season is coming, and the pure cotton yarn fundamentals are empty, and the pure cotton yarn market is expected to remain weak. It is advisable for speculators to wait and see. (for reference only)