[Downstream holding weak textile enterprises mainly take goods at a fair price, purchase cautiously]
Release date:[2020/7/9] Read a total of [41] time

Downstream holding weak textile enterprises mainly take goods at a fair price, purchase cautiously


【In stock overview】


On July 8th, the cotton spot index CCI3128B was quoted to 12073 yuan/ton (+0); the current price difference is -148 (09 contract closing price-spot price), polyester staple fiber is quoted 5430 yuan/ton (-20), and the viscose is short Fiber price 8500 yuan/ton (+0); CY Index C32S price 18600 yuan/ton (+0), FCY Index C32S (import cotton yarn price index) price 18258 yuan/ton (-11); Zheng cotton warehouse receipt 20418 sheets (-39) ), effective forecast 1964 (-93). On July 8, the reserve cotton wheel sold 8068.2134 tons of sales resources, and the actual turnover was 8068.2134 tons, with a turnover rate of 100%. The average transaction price was 11,567 yuan/ton, an increase of 34 yuan/ton from the previous day.


  【Market analysis】


At present, US EMOT M arrives at 73.6 cents/lb in Hong Kong, India S-6 1-1/8 arrives at 65.55 cents/lb in Hong Kong, Brazil M arrives at 69.05 cents/lb in Hong Kong, and the price of foreign cotton is higher than the previous one The trading day remains unchanged. Although cotton has been performing strongly due to the continuous drought in the main cotton-producing areas, the financial attributes of cotton are more prominent at this time. Yesterday the three major US stock indexes rose together, the Dow recovered 26,000 points, the Nasdaq rose 1.44% and continued to hit a new closing high. Drive the overall bullish atmosphere of the capital market, and yesterday, the dollar fell even more favorable for commodities denominated in US dollars. Yesterday, the ICE cotton contract continued its strong trend, and the seven-day market ended at 64.33 cents/lb. The future price rose 1.01 cents/lb from the previous trading day, an increase of more than 1.5%, and the position decreased by 373 hands to 117,000 hands. From a technical point of view, MACD red column volume. DIFF and DEA fitting golden forks tend to diverge upwards, KDJ indicators fitting golden forks diverge upwards, and technical indicators are in a strong position.


   Recently, the overall cotton spot trading has remained light, and only a small part was sold when Zheng Mian fell. At present, the transaction in the downstream pure cotton yarn market is relatively light. The low and medium count yarns are supported by e-commerce orders and still can be sold in small quantities. The price of cotton yarns has shifted its focus. At present, the market is under the off-season market, the textile enterprises have many losses, and cotton purchases are very cautious. The operating rate of downstream weaving mills continued to decrease under high inventory, and cotton yarns were mostly bought and used. The WHO warned that the epidemic situation is still accelerating, the market is pessimistic about the market outlook, and textile companies are mainly selling at a fair price. Yesterday, Zheng Mian 09 contract adjusted to close Yin Xingxing, closing at 11925 yuan/ton at the end of the day, and the futures price fell 25 yuan/ton from the previous trading day. Open interest increased by 4,707 lots to 342,000 lots. From a technical point of view, MACD Hongzhu slightly contracted. DIFF and DEA fit the golden fork and are in a strong area above the 0 axis. The KDJ indicator fits the golden fork, and the technical indicators are in a strong position. Recently, attention is paid to the first line pressure on the upper rail.


  【Operation strategy】


  Zheng Mian 09 contract short-term operating range 11700-12200. It is recommended that the long-term bargain-hunting funds for early entry continue to hold 10-15% of positions, short-term traders are short selling on rallies, and the profit-loss ratio is 2.5:1 (for reference only


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