Price bounced, Cope Prudently with Current Fickle Market (Nov. 9, 2005)
Author:
admin
PublishDate:
2005-11-10 09:46:00
Hit:
551
Quite different from the depressed sentiment before, great renewed buying interest was created Wednesday by the strong counterattack of buyers on Tuesday. Today electronic market in CCSE bounced to up limit. Meantime, The trading volume (on both-way calculation) of March’06 Dried Cocoon totaled 3260 hands, with its net position ( on both-way calculation) reaching 7296 hands noticeably. The battle between buying and selling sides became more sharpened. If either side gave up now, their previous efforts would be of no use.
But we should point first and last that situation of supply and demand is a mid -and-long-term deciding factor that influences the price movement from the view of historical data as well as the future.
Change Open-close prices Net position
Raw Silk for Nov. 2005 4500yuan/ton 228500---233000 436
Raw silk for March 2006 6000yuan/ton 218000---224000 2632
Dried Cocoon for Nov. 2005 1800yuan/ton 73800---75600 48
Dried Cocoon for March 2006 2000yuan/ton 68200---70200 8956