The Yarn Market Has No Market &Nbsp, And The Post Market Risk Is Gradually Emerging.

Last week (7.5 - 7.9) Goods in stock The price increase slowed down. On the one hand, the procurement of textile mills was reduced. In addition to some textile mills with less stock being still being purchased, other textile factories were waiting to be thrown away. On the other hand, some cotton enterprises began to contact the textile mills voluntarily and intend to sell their cotton. Yarn price rising power weakened, the downstream industry chain profit margins narrowed, purchasing power decreased. The weekly average price of China's cotton price index (CCIndex328) was 18396 yuan / ton, 95 yuan higher than the previous week, 229 yuan 18857 yuan / ton, up 82 yuan, 527 yuan 16888 yuan / ton, up 121 yuan. In the same period, the volume of electronic matching and the quantity of orders increased. In addition to the rise in the average contract price in recent months, all other contracts fell and the center of gravity shifted downward.

1. Spot quotes: yarn The spot market stabilizes. market There is no market price.

Last week, China's cotton price index on behalf of the domestic cotton spot price rose slowly. The general market, the spot market was in a stalemate, and there was no market price. Although the spot price of cotton did not drop, the digestion ability of the downstream industry chain slowed down. 6, 7 and August were the traditional off-season of cotton yarn market. From last week's yarn price trend, prices fell slightly, and there was no impetus for them to rise. At the same time, some cloth factories had reduced the production of pure cotton cloth, but only to keep the source of tourists, others changed the production price of the dacron cloth which was relatively stable. Affected by this impact, cotton spot prices also began to shrink last week. The average price of the standard cotton week rose less than 100 yuan, which was much lower than that of the previous week. Cotton traders began to contact the textile mills to sell cotton in their own hands, and the spanaction price remained unchanged or slightly reduced. Textile mills, in addition to some of the lower inventory of cotton factories are still on the spot procurement, some of the abundant inventory of factories and then further wait for the national cotton auction.

Two, electronic matching: small added positions, strong in recent months.

Last week, the national cotton trading market made a total of 87600 tons of merchandise cotton electronic matching, an increase of 8820 tons compared with the previous week, and the order volume of 170260 tons, an increase of 6300 tons over the previous week. In addition to the strong performance of contracts in recent months, other contracts have shifted downward, and weekly average prices have fallen. As policy faces remain unclear, yarn price rises are weak, and the contracts in the medium and long term are weakening. The average price of MA1007 weeks in recent months is 19012 yuan / ton, which is 155 yuan higher than that of China's cotton price index (CCIndex229) of 18857 yuan / ton.

Increase, except for the reduction of the order quantity of MA1008 contract, the other contract order volume has increased, the main contract volume increased by 2040 tons, MA1010 contract volume increased 3120 tons, the largest increase; 2, weekly order quantity increased slightly, except for the MA1007 contract quantity reduction 7000 tons, the other contract volume increased by 5160 tons, followed by the main contract MA1009 increased 3500 tons, because the contract price of the far month contract was low, traders looked far away month, the position increased; 3, when the week matched MA, the average contract price of each month contract rose near and far down, affected by the spot price stabilization, the MA contract increased in the past month, the other contract fell by 98 yuan to 179 yuan. Last week, the main features of the matching spanactions were as follows: 1. Weekly turnover increased slightly, and the total turnover was 88 thousand tons, compared with the previous week. The highest price in the week is MA1007, the contract price is 19110 yuan, the lowest price is MA1012, the contract is 16400 yuan (328B), the lowest price after conversion is MA1012, the contract is 16700 yuan.

Three, the international market: shipments of US cotton exports reach the annual high point and cotton futures stop.

On the 9 day, the USDA report released that the output of US cotton increased, but the external market rose as a whole, while trade buying support. Therefore, the ICE cotton rose as a whole. According to the latest CFTC holdings data, cotton fell sharply during the ICE period last week, with large withdrawals of cotton funds, especially in the form of speculative single purchase and single insurance reduction. However, from a technical point of view, the period cotton seems to have stopped, the bad short term has been exhausted, can not be too empty market. In the same period, the average price of Cotlook new flower A index was 84 cents / pound, down 2.49 cents / pound compared with the previous week, and 1% yuan under the tariff was 14594 yuan / ton, and the conversion price of sliding tax was 15095 yuan / ton.

Four, market outlook:

Although the state has recently introduced a macro policy to control cotton prices recently, some cotton traders still see the high market. Meanwhile, according to the survey, cotton growers have higher expectations for the purchase price this year, and the risks in the future market are gradually increasing. Too high cotton prices are spanmitted to the downstream industry chain. Some small factories are afraid to stop production because of the high cost. Some big factories may lose money due to the large gap between the export orders and the recent high raw material prices.

At the end of the week, the central bank and the Customs announced the latest statistics. Customs statistics show that in June, the total value of imports and exports in China both set a new record in July 2008, with the export growth rate of textile and clothing products. The central bank's report shows that the growth rate of money and credit has slowed down. As a leading indicator of economic operation, the current decline in monetary and credit growth has, to a certain extent, slowed down people's worries about the economic overheating a few months ago, but at the same time, it also exposed new shoots of economic growth.