Rose slightly (Sept. 9, 2005)
Author:
admin
PublishDate:
2005-09-09 16:58:00
Hit:
534
Electronic trading market prices closed slightly higher and still fluctuated in narrow ranges. Recent market action suggested that a breakthrough is to be seen in the near future. Some traders insisted cocoon production fall short of demand, but statistics suggested a balanced market this year. Under such situation, price movement will to a large extent depend on outside factors, especially in terms of export. Therefore, export should be paid more attention now.
Physically, raw silk quotations dropped about 1000 yuan compared to yesterday. In detail, raw silk 3A from Jiangsu and Zhejiang region is quoted between 204000 and 214000 yuan per ton, and raw silk from other regions between 202000 and 208000 yuan per ton. The spot trading trading volume increased as silk reeling mile reserved capital for starting autumn harvest season.
Change Range Net position
Raw Silk for Sept. 2005 900yuan/ton 203000---203900 722
Raw silk for March 2006 0 201500---202400 1650
Dried Cocoon for Sept. 2005 -300yuan/ton 62000---62500 64
Dried Cocoon for March 2006 400yuan/ton 63600---64000 2124