Spinning Orders Are Still Acceptable, Foreign Trade Orders Are Still Not Restored, And Prices Are Weak.

The pure cotton yarn market is relatively stable, and the price is weak. In the near future, the demand for orders for domestic textile enterprises is still small, but stock prices have dropped slightly, but foreign trade orders haven't improved. The overall order of textile enterprises is still insufficient and generally losing money. The basic fundamentals of pure cotton yarn market are still poor. It is expected that the pure cotton yarn market will remain weak and the price will not rise.

[market overview]

　　 In the early morning, Zheng cotton fell, and more bills were swept away. In the afternoon, Zheng cotton range shook, and cotton spot transactions were less. Today, the mainstream position slightly shifted to 09 contract 11400-11550. Today, Zheng cotton futures concussion dropped, CF2005 closed 11250 yuan / ton, fell 30, CF2009 received 11590 yuan / ton, or 55.

Direct spinning polyester and short prices continue to rise, high turnover is less, production and marketing to light, half light 1.4D mainstream trading center maintained at around 5800-5900 yuan / ton, Jiangxi and Fujian pure polyester yarn T32S mainstream quote 9800-10000/ tons, Zhejiang pure polyester yarn vortex spinning T30S mainstream reported 10300-10600 yuan / ton, part of the export orders began. The price of polyester cotton yarn in Jiangxi and Fujian has risen partly, and the mainstream of TC65/35 32S is 14000-14200 yuan / ton.

Viscose staple market is relatively calm, high-end prices can maintain 9500 yuan / ton.

　　 After the volume of cotton yarn has been traded, the goods have slowed down at the beginning of the week. The factory has mainly shipped goods, and the industry load has increased to 50 in the near future. The price of polyester yarn continues to rise due to the influence of raw materials.

　　 Today, the spot price of imported cotton yarn is mainly stable, and the market is generally not very active. But local speculative market continues, "copy the bottom" part of the continued occurrence. There are no more than 40% bookings in downstream factories, and orders are still not optimistic.

Enquiries for imported yarn continued, but the number of buyers decreased from the weekend, less than last week. The price of India's external market is stable. The C21S price of local factories is priced at US $1.98 per kilogram. After tax is about 16 thousand and 800 yuan / ton, the price is slightly higher than the mainstream price of the market, and the turnover is light. Vietnam's foreign market price is weak, buyers bid low, recent carding goods difficult. The price of C32S drifting jet is about US $2.26 / kg, and RMB after tax is about 18 thousand and 500 yuan / ton. The price of siro spinning outside the Ba yarn has dropped, but there are not many recent enquiries and transactions. The factory's second line siro spinning C10S US $340 / kg, RMB after tax is about 15 thousand and 400 yuan / ton, and the turnover is light.

　　 According to the volume statistics of China Textile City, the total sales volume of grey cloth today is 6 million 180 thousand meters, which is 2 million 240 thousand meters lower than that of yesterday. Among them, 4 million 90 thousand tons of chemical fiber cloth were sold today, accounting for 66.1% of the total sales, and 440 thousand tons of cotton cloth, accounting for 7.1% of the total sales, and 540 thousand tons of cotton cloth, accounting for 8.7% of the total sales.

Pricing structure and arbitrage analysis

　　 As of May 18th, the domestic CY C32 price was 18720 yuan / ton (0), the India C32S price was 18300 yuan / ton (0), the price difference was 420, there was no arbitrage opportunity.

[technical analysis]

　　 In May 18th, the price of cotton yarn 09 contract first fell and then rose. The highest price is 19355 yuan / ton, the lowest price is 18985 yuan / ton, closing price is 19220 yuan / ton, compared with the previous trading day, it rose 250 points and the position was 8106, an increase of 209 hands compared with the previous trading day.

[outlook]

Today, polyester and short prices continue to rise, spinning orders are still good, yarn inventory is small, but foreign trade orders have not improved, the overall fundamentals are still not good. It is expected that short-term prices will be sideways, and speculators are advised to wait and see. (for reference only)