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CCSE electronic market was volatile this week. Price rose on Monday because of the affection of Typhoon Masta. However, the buyers did not continue to push prices higher. Just from Tuesday, price dropped heavily consecutively totaled 10000 Yuan for Raw Silk and 3000 Yuan for Dried Cocoon respectively. The sharp drop this week has completely disrupted the sideways movement and was partly because of the significantly rise during the previous period.

Raw Silk for August 2005 settled finally at 215000 Yuan, and its delivery volume was 366 hands.

Dried Cocoon for August 2005 settled finally at 64600 Yuan, and its delivery volume was 104 hands.

Fundamentally, there still wasn’t bearish news. But there was different opinions on the price moving. The dropping strength has been released comparatively after the slump. Now the electronic market is expected to consolidate within some certain range. Both sides should be patient.