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ReturnPrice bounced (Oct.17,2005)
Author：
admin
PublishDate：
2005-10-17 16:49:00
Hit：
550
Electronic contraction market prices closed significantly higher today after the retreat of last Friday. Dried cocoon and raw silk prices both rose to up limit in morning sessions, then raw silk price continued to rise in afternoon sessions while dried cocoon price consolidated for almost all the afternoon sessions. Backed on the current supply and demand situation, buyers still dominate the market price.
Physically, silk reeling mills in production areas and holders in marketing areas still have strong willing to quote higher. But traders are lack of confidence to pick up with the hike, turning around from sideline to buying.
Change Open-close prices Net position
Raw Silk for Nov. 2005 2400yuan/ton 223700---226100 588
Raw silk for March 2006 4200yuan/ton 222200---226400 2236
Dried Cocoon for Nov. 2005 1100yuan/ton 71600---72700 20
Dried Cocoon for March 2006 1000yuan/ton 71300---72300 3314
Physically, silk reeling mills in production areas and holders in marketing areas still have strong willing to quote higher. But traders are lack of confidence to pick up with the hike, turning around from sideline to buying.
Change Open-close prices Net position
Raw Silk for Nov. 2005 2400yuan/ton 223700---226100 588
Raw silk for March 2006 4200yuan/ton 222200---226400 2236
Dried Cocoon for Nov. 2005 1100yuan/ton 71600---72700 20
Dried Cocoon for March 2006 1000yuan/ton 71300---72300 3314
