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Electronic contract prices continued the bounce and lifted higher on renewed buying interest today. It seems that strong supports are found around 200000 Yuan/ton and 62000 Yuan for 20060325 Raw Silk and Dried Cocoon respectively. Meanwhile, it’s noteworthy that the attention paid on back months is increasing again this week. Anyway, price movements are determined by supply and demand in the market. The market inclines to stabilize after it released some risk through recent slump.

Fundamentally, spot silk market moved stably recently. The quotes changed little compared by yesterday.

　　　　　　　　　　　　　Change 　　　Range 　　Net position
Raw Silk for Sept. 2005　　　1200/ton　　204800---206500　　530
Raw silk for March 2006　　　1200/ton　　202400---206000　1804

Dried Cocoon for Sept. 2005　200/ton　　　62800---63300　　　110
Dried Cocoon for March 2006　300/ton　　　63600---64500　　2198