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Climbing step continued (Sept. 14,2005)
Author:
admin
PublishDate:
2005-09-14 16:28:00
Hit:
540


Electronic trading market in CCSE rose significantly today. Buying interest has pushed up the prices for three consecutive days. Oct. raw silk touched the low of 206900yuan and closed at 209900 Yuan. March’ 05 raw silk broke through 200000 Yuan and closed at 212300 Yuan per ton. Today’s significantly climbing up, headed by March 06, became the highlight on the market. March’ 06 is still most active for Dried Cocoon, with 704 hands were traded, meantime, other months traded little. However, the anticipated delivery volume (position also called) of March’ 06 Dried Cocoon increased little, indicating both sides were liquidating at such levels.

Fundamentally, raw silk prices continued to rise, but uprise extent lower than that of electronic markets. The volume was moderate, with some traders reserving stockpiles for the interest of earning more money.

            Change    Range   Net position
Raw Silk for Oct. 2005   2400yuan/ton 206900---209900 558
Raw silk for March 2006   3900yuan/ton 208400---212300 1646

Dried Cocoon for Oct. 2005  500yuan/ton 64000---64500   16
Dried Cocoon for March 2006  800yuan/ton 65800---67000  2308
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