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ReturnProfit-taking of Buyers pushed price down (Aug. 9, 2005)
Author：
admin
PublishDate：
2005-08-10 09:12:00
Hit：
613
The price of cocoon and silk electronic contracts dropped sharply Tuesday in CCSE. But trading was active in late session. However, it was apparently that the opinions of the buyer side and the seller side toward forward months widened further.
Raw Silk for Aug. 2005 opened at 219800 Yuan and closed at 218600 Yuan, with 62 hands were traded.
Dried Cocoon for March 2006 opened at 67500Yuan and closed at 66300Yuan, with 514 hands were traded.
The spot raw silk price didn’t continue rising and kept a stable level during recent days. The price of raw silk from Sichuan Province ranged between212000 Yuan and 215000Yuan. Raw silk from Jiangsu and Zhejiang was quoted between 215000 Yuan and 220000 Yuan. It was an effective factor to push the electronic contract buyers to take profit from market.
