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Followed the temporary rally yesterday, CCSE electronic market turned around to decline Wednesday. This has confirmed that the rise yesterday was just a bounce, which was just based on a period of consecutive drops. Meanwhile, today’s trading volume was enlarged but total net position reduced.

Today Raw Silk for Sept. 2005 opened at 207800 Yuan and closed at 204000 Yuan, with 76 hands were traded.
Active Dried Cocoon for March 2006 opened at 64100 Yuan and closed at 63300 Yuan, with 770 hands were traded.
Active Raw Silk for March 2006 opened at 204800 Yuan and closed at 203000 Yuan, with 336 hands were traded.

Raw silk from Sichuan was quoted 215000 Yuan more or less. And raw silk from Zhejiang and Sichuan was about 2000 Yuan higher. The pressure from spot market was still small at this moment. However, source in physical market said that the quotes of raw silk exports dropped slightly.