Price surged (Nov.11, 2005)
Author:
admin
PublishDate:
2005-11-11 17:08:00
Hit:
552
After releasing the adjustment measures on Nov.7, the exchange again adjusted the method and ratio of Trading Margin yesterday in order to avoid larger risk and protect middle and small sized traders’ interest. Reacted to the change of policy side, the electronic market prices raised to up limit after the suspension of transaction yesterday. The shrinking trading volume today indicated buyers were greatly optimistic to the future and had strong inclination to hold their contracts. Meantime, selling side seemed to be heavily burdened by capital problem.
Change Open-close prices Net position
Raw Silk for Nov. 2005 2100yuan/ton 233000---235100 442
Raw silk for March 2006 6000yuan/ton 224000---230000 2598
Dried Cocoon for Nov. 2005 0yuan/ton 75600---75600 48
Dried Cocoon for March 2006 2000yuan/ton 70200---72200 8908
Physically, the stable situation of spot price has lasted for some time, but lack of purchase volume to confirm. Corresponding to the rally of electronic market, the spot trading volume is likely to be increased.