Search
Info Center
Home > Info Center > CCSE Review
Return
ReturnDropping heavily, seeking Support (Aug.12, 2005)
Author：
admin
PublishDate：
2005-08-12 16:41:00
Hit：
595
CCSE electronic market closed lower Friday and intended to seek further support. Profit-taking of buyers and speculative action of sellers drove the price dropping heavily. Panic sell off was both seen in morning cocoon and raw silk sessions. In afternoon session, price of raw silk continued to drop, however, price of dried cocoon showed some resistance to drop and moved in a narrow range.
Today raw Silk for Sept. 2005 closed at 208400Yuan, touching intraday lowest of 207800 Yuan, with 58 hands were traded.
Active Raw silk for March 2006 closed at 205400 Yuan, touching intraday lowest of 205400 Yuan, with 304 hands were traded.
Active Dried Cocoon for March 2006 closed at 63900 Yuan, touching low of 63800 Yuan, with 572 hands were traded.
Physically, recent spot price had no significant drop and did not show clear turn. However, the trading was small.
Today raw Silk for Sept. 2005 closed at 208400Yuan, touching intraday lowest of 207800 Yuan, with 58 hands were traded.
Active Raw silk for March 2006 closed at 205400 Yuan, touching intraday lowest of 205400 Yuan, with 304 hands were traded.
Active Dried Cocoon for March 2006 closed at 63900 Yuan, touching low of 63800 Yuan, with 572 hands were traded.
Physically, recent spot price had no significant drop and did not show clear turn. However, the trading was small.
