Cotton Yarn Market Turnover Improved, Spinning Enterprises Cotton Yarn Inventory Continued To Decline

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Last week, CRB commodity price index closed at 202.46 on Friday, up 6.39 in the week; The domestic Wenhua commodity index closed at 185.82 on Friday, up 0.81 for the week. During the week, the US dollar index rose slightly to close at 91.296 on Friday, while WTI crude oil futures closed at 64.87 US dollars / barrel on Friday, up 4.7% from last week. In terms of commodities, cotton and cotton yarn futures prices fluctuated greatly, and the focus of cotton yarn spot price shifted upward. The price of CCI 3128b on Friday was 15872 yuan / ton, with a cumulative decrease of 133 yuan / ton during the week; On Friday, the spot price of c32s yarn was 24600 yuan / ton, up 50 yuan in the week. In terms of substitutes, cotton yarn price remained stable this week, while polyester yarn price rose slightly. T32 price rose by 40 yuan / ton on Friday and 11760 yuan / ton; The price of CY R30 was 17600 yuan / ton, which was the same as last week.

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From the domestic yarn point of view, this week's cotton yarn Market Trading overall better than last week, but there is still differentiation. Among them, the rotor spinning is weak; Conventional yarn 32 and 40 count cotton yarn has better performance; The performance of high count yarn is average, but it is better than last week. In terms of price, the price of combed yarn will rise by 300-800 yuan / ton this week, while that of combed yarn will increase by 0-500 yuan / ton this week. In terms of enterprise operation, cotton yarn inventory of textile enterprises decreased by about one day compared with last week, and the load maintained the level of last week. In terms of imported yarn, this week's trading situation of imported yarn has improved compared with that of last week, the port inventory of imported yarn has decreased slightly, the price is mainly stable, and there is no arbitrage opportunity for the difference between domestic and foreign prices.

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In general, macro investors focus on the Fed's tolerance for inflation and the impact of the worsening epidemic in India. The recent US economic data has performed well. Powell continues to play down inflation, emphasizing that the recovery is still unbalanced. It is expected that the Fed will not consider reducing bond purchase in the short term. India's epidemic situation and the spread of variant strains are the main risks. Pay attention to the start-up rate and order transfer of Indian textile enterprises. In China, the cotton yarn Market Trading in the week was better than that in the previous week, with some cotton yarn quotations slightly increased. The recent rise in cotton yarn prices was mainly due to the cost side promotion. At present, there are more speculation topics on the cost side, and it is about to enter the traditional off-season of the textile industry. Therefore, we should be cautious about the cotton yarn price. At present, the operation range of cy09 contract is 22500-25000, and the cotton yarn price range is expected to fluctuate.

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■ one week Market Overview

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The closing price of cy109 contract on Friday was 23240 yuan / ton, down 35% in the week; Positions on Friday were 7291, down 60 this week.

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This Friday, the CCI 3128 index was 15872 yuan / ton, down 133 yuan from the beginning of the week; Zhengzhou cotton cfo9 closed at 15600 yuan / T on Friday, with a cumulative decrease of 65 during the week, and a slight decrease in polyester short price. Pf closed at 7212 on Friday, up 166 during the week, and half light 1.4d mainstream was 6700-6950 yuan / ton. Stick short prices continue to decline, 1.2D stick short 14000 yuan / ton

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This week, the cotton yarn turnover was obviously differentiated. The conventional yarn CY c32s and CY jc40s were relatively good, while the other varieties of yarn were in general. In terms of price, the price of cotton yarn CY 32S was 24600, which increased by 50 within the week; CY jc40s price was 28310 yuan / T, up 50 yuan in the week; The price of pure polyester yarn increased by 40 yuan to 11760 yuan / ton, while that of polyester cotton yarn rose by 20 yuan / ton to 17070 yuan / ton.

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This week, China's yarn inventory index is 13.1 days, China's yarn load index is 64.1%, cotton yarn inventory of textile enterprises is 10.4 days, cotton yarn inventory of textile mills is 13 days, and pure cotton yarn factory load is 63.3%.

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In terms of cotton yarn operation, cotton yarn trading continued to differentiate this week. Conventional yarn trading was improved compared with last week. The cotton yarn inventory of spinning enterprises decreased slightly, but the goods taken by weaving factories still remained unchanged. Some textile factories made up their stock due to the rising price of raw materials, and the cotton yarn inventory of weaving factories increased slightly.

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In terms of substitutes, the inventory of finished products of human cotton yarn is 24 days, the load of human cotton yarn is 63%, the inventory of pure polyester yarn is 11.8 days, and the load of pure polyester yarn is 66.8%.

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In terms of substitute operation, this week, the turnover of human cotton yarn was light, the stock of human cotton yarn continued to accumulate, the load decreased slightly, and the polyester yarn trading remained at the level of last week.

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■ [foreign yarn price and operation]

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The atmosphere of imported yarn shipment this week is better than that of last week, but it is still lower than that of the same period in previous years, and the downstream just needs to purchase. India's epidemic situation is still serious, domestic traders reported that due to the epidemic, India's shipping schedule will be delayed. Price: in Guangdong market, Pakistan Siro textile c10s first-line tax inclusive report of 20700-21000 yuan / ton; Fujian market c32s Vietnam knitting bag bleaching tax report 25500 yuan / ton near; In Jiangsu and Zhejiang markets, jc32s in India reported 28200-28400 yuan / ton; The price of black yarn c32s in Shandong market is around 24000-24500 yuan / ton.

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This week, the price of printing yarn outer plate has been raised. The mainstream jc32s knitting machine of cotton mill traders can float at 3.8-3.85 US dollars / kg, equivalent to 28300-28700 yuan / ton. The shipping date in early June is 90 days L / C; The mainstream c32s woven fabric can be floated at US $3.25-3.3/kg, equivalent to RMB 25100-25500 yuan / ton, shipping time in May, 90 days L / C; The mainstream traders in Vietnam's external market, jet c32s, can be floated at US $3.4-3.6/kg, equivalent to RMB 25400-26900 yuan / T, with the shipping date in June and sight L / C; The price of oec21s can be floated at US $2.2-2.25/kg, equivalent to RMB 15800-16200 yuan / ton. The shipment date is in late May and June, and the L / C is available at sight. The mainstream quotation of c10s of siro spinning on the first line of Basa yarn is 525-540 US dollars / piece, equivalent to 21600-22300 yuan / ton. The shipping time is at the end of May and June, and the letter of credit is 90 days; The mainstream quotation of c10s of second-line siro spinning is 495-510 US dollars / piece, equivalent to RMB 20400-21000 yuan / ton, shipping time at the end of May and June, 90 days L / C.

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In terms of yarn operation rate in foreign countries, the starting rate of Vietnam yarn mill is 80%; The operating rate of Indian mills is 69%; The operation rate of Pakistan cotton mill was 87%, which was the same as last week.

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The imported yarn inventory is 11.5 days, and the downstream load of imported yarn is 68.8%.

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This week, the atmosphere of imported yarn shipment is better than that of last week, but it is still lower than the level of the same period in previous years. Import yarn inventory decreased slightly compared with last week, and the load remained at the level of last week.