SunSirs: The cotton yarn futures market fluctuated and closed up, and the spot continued to be weak

Price: according to the data of business agency, on the 18th, the price of 32 cotton yarns in Shandong was about 30566 RMB/ton, down 0.92% month on month.

Analysis: on the 18th, the average price of domestic cotton price index 3128b was 22562 RMB/ton, an increase of 8 RMB/ton compared with the previous day, the settlement price of Zheng Mian's main 2209 contract was 21575 RMB/ton, an increase of 215 RMB/ton compared with the previous day, and the settlement price of cotton yarn's main 2205 contract was 27685 RMB/ton, an increase of 320 RMB/ton compared with the previous day. Macro positive: the people's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25, 2022. In order to increase support for small and micro enterprises and "agriculture, rural areas and farmers", the macro policy side fulfilled the positive expectations, and the futures prices of cotton and cotton yarn fluctuated and rose slightly recently. Yarn finished products are still accumulating, and yarn inventory increased by 2.68 days month on month in March. Due to weak demand, there are not many new orders in weaving factories, and the logistics has not been fully recovered, yarn and cloth inventory continue to accumulate, restraining the rise of cotton yarn prices.

Forecast: due to the poor long-term demand in recent months and the impact of the epidemic, the market has insufficient confidence in the future market, weak order follow-up and weak willingness to purchase raw materials. It is expected that the short-term cotton yarn market will be dominated by weak consolidation.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

Price: according to the data of business agency, on the 18th, the price of 32 cotton yarns in Shandong was about 30566 RMB/ton, down 0.92% month on month.

Analysis: on the 18th, the average price of domestic cotton price index 3128b was 22562 RMB/ton, an increase of 8 RMB/ton compared with the previous day, the settlement price of Zheng Mian's main 2209 contract was 21575 RMB/ton, an increase of 215 RMB/ton compared with the previous day, and the settlement price of cotton yarn's main 2205 contract was 27685 RMB/ton, an increase of 320 RMB/ton compared with the previous day. Macro positive: the people's Bank of China decided to reduce the deposit reserve ratio of financial institutions by 0.25 percentage points on April 25, 2022. In order to increase support for small and micro enterprises and "agriculture, rural areas and farmers", the macro policy side fulfilled the positive expectations, and the futures prices of cotton and cotton yarn fluctuated and rose slightly recently. Yarn finished products are still accumulating, and yarn inventory increased by 2.68 days month on month in March. Due to weak demand, there are not many new orders in weaving factories, and the logistics has not been fully recovered, yarn and cloth inventory continue to accumulate, restraining the rise of cotton yarn prices.

Forecast: due to the poor long-term demand in recent months and the impact of the epidemic, the market has insufficient confidence in the future market, weak order follow-up and weak willingness to purchase raw materials. It is expected that the short-term cotton yarn market will be dominated by weak consolidation.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.