Fluctuated at high levels and closed lower (Oct.18, 2005)
Author:
admin
PublishDate:
2005-10-18 16:59:00
Hit:
536
Electronic market prices fluctuated at high levels and closed lower diverged completely from the sharp bounce yesterday. Backed by the firm spot price, Nov. prices keep higher than March’06 prices these days, however, the buyers didn’t push prices higher today.
By and large, the phenomenon of rally and consolidation will occur in the electronic trading in the short term.
Physically, silk reeling mills in Zhejiang quoted at about 230000 yuan for 3-4 A raw silk and refused counter-offer.
Change Open-close prices Net position
Raw Silk for Nov. 2005 300yuan/ton 226100---226400 582
Raw silk for March 2006 -1200yuan/ton 226400---225200 2376
Dried Cocoon for Nov. 2005 -500yuan/ton 72700---72200 26
Dried Cocoon for March 2006 -800yuan/ton 72300---71500 3260