From the perspective of the external environment, the U.S. manufacturing data performed well in March, recording the strongest growth in 37 years. The March non-farm employment report showed that the United States created 916,000 new jobs and the unemployment rate dropped to 6%. It shows that the job market is continuously improving. The promising manufacturing and employment data have enhanced the market’s confidence in the recovery of the U.S. economy. U.S. stocks closed higher across the board. The Dow Jones Industrial Average rose 0.2% during the week, the Nasdaq rose 2.6% during the week, and the S&P 500 Index rose 2.6% during the week. rose 1.1%. In addition, as the diagnosis rate soars, Europe’s economic recovery has been affected; the conflict in eastern Ukraine has resumed, and the situation in Russia and Ukraine is tense. Russia warned the United States it would take all necessary measures after Ukraine said the United States might provide aid in a future war. Tense regional relations and the recurrence of the epidemic in Europe have cast a shadow on the recovery of the world economy. After the holiday, the global market will usher in a series of major events. Continue to pay attention to the minutes of the strategic meeting collectively released by the Federal Reserve and the European Central Bank after the holiday. Details of the IMF seminar. Domestically, the People’s Bank of China stated that the current domestic financial risks have generally converged and are generally controllable, and market expectations have undergone positive changes.
Last week, the CRB Commodity Price Index closed at 186.7 last Friday, down 1.03 from last Friday; the domestic Wenhua Commodity Index closed at 179.42 last Friday, down 1.03 from last Friday. Up 1.47. The U.S. dollar index continued to strengthen during the week, closing at 93.005 last Friday, with a cumulative increase of 0.304 during the week. WTI crude oil futures closed at $61.45 per barrel last Friday, with a cumulative increase of 0.8% during the week. In terms of spot prices, cotton and cotton yarn futures prices stopped falling and rebounded slightly, while cotton yarn spot prices continued to decline. The price of CCI 3128B last Friday was 15,248 yuan/ton, a cumulative increase of 47 yuan/ton during the week; the spot price of C32S yarn last Friday was 24,150 yuan/ton, a cumulative decrease of 220 yuan/ton during the week. In terms of substitutes, the price of polyester raw materials fluctuated last week, and the price of polyester yarn continued to weaken. The price of T32 was 11,800 yuan/ton, a cumulative decrease of 100 yuan during the week; the price of rayon yarn dropped slightly, and the price of CY R30 last Friday was 18,500 yuan/ton. The cumulative drop during the week was 200 yuan/ton.
From the perspective of domestic yarn, the cotton yarn and gray fabric market transactions remained light last week. The yarn price continued to fall, but the decline has slowed down. Some terminals have received domestic sales orders. Sustainability needs to be considered. At present, the pure cotton yarn market is not performing well overall. Cotton yarn stocks in spinning mills continue to accumulate, but they are still at a low level, and the load is mainly stable. In terms of imported yarn, the downstream market is cautious. Traders are slowing down shipments. Imported yarns are arriving at the port one after another. The inventory of imported yarn ports has increased slightly and the load has been slightly reduced. In terms of price, the quotation price of imported yarn has been reduced by 400-1100 yuan/ton during the week, and there is no arbitrage opportunity in terms of internal and external price differences.
In general, the recurrence of the epidemic in Europe and the tense relations between Ukraine and Russia have had a certain impact on the recovery of the world economy. However, the slow recovery of the world economy is still the main tone at present. In the short term, demand Be cautious about macro risks. Domestically, after the market concerns caused by Xinjiang cotton fermented, cotton and cotton yarn futures prices rebounded. However, the cotton yarn market trading showed no signs of improvement. Traders continued to sell goods at low prices to reduce their own inventories, and the spot price of cotton yarn continued to decline. It is reported that a small number of terminal orders have been placed in some areas. The current market mentality is cautious and we will pay attention to the continuity of orders in the future. The current Zheng Yarn 09 contract operating range is 21800-23500. It is expected that the short-term cotton yarn futures price will continue to consolidate. The spot price of CY C32 is 24150 yuan/ton. As the supply of cotton yarn in the low-price selling market of traders increases, cotton yarn profits may narrow. If There is no continuity in terminal orders, and it is expected that the short-term spot price of cotton yarn is likely to be weak. </p
