Search
Info Center
Home > Info Center > CCSE Review
Return
ReturnContinued to consolidate at relative highs (Sept. 28,2005)
Author：
admin
PublishDate：
2005-09-28 17:04:00
Hit：
551
Electronic market prices continued to consolidate at high levels today after recent rally. Most delivery months closed at yesterday’s levels as a result of inter-influences of profit-taking of buyers and cutting- losses of sellers. Oct.'05 and March'06 raw silk closed at 214400yuan and 216200yuan respectively. The actions showed some participants left and waited on sideline for avoiding psychological pressure before the long holiday.
The cocoon purchase became the topic of most traders this week. The Jiaxing-huzhou region of Zhejiang province began purchasing fresh cocoons on September 27 and then came into new harvest, what the buyers could make use of is the news of lower output and quality, which could be regarded as the support to current firm prices on CCSE. Given current strong sentiment, the buyers don’t want prices to ease easily after the new round of pulling up.
Change Range Net position
Raw Silk for Oct. 2005 300yuan/ton 213800---214700 560
Raw silk for March 2006 0 215600---216500 1846
Dried Cocoon for Oct. 2005 -300yuan/ton 66600---66900 28
Dried Cocoon for March 2006 -200yuan/ton 68800---69400 2656
The cocoon purchase became the topic of most traders this week. The Jiaxing-huzhou region of Zhejiang province began purchasing fresh cocoons on September 27 and then came into new harvest, what the buyers could make use of is the news of lower output and quality, which could be regarded as the support to current firm prices on CCSE. Given current strong sentiment, the buyers don’t want prices to ease easily after the new round of pulling up.
Change Range Net position
Raw Silk for Oct. 2005 300yuan/ton 213800---214700 560
Raw silk for March 2006 0 215600---216500 1846
Dried Cocoon for Oct. 2005 -300yuan/ton 66600---66900 28
Dried Cocoon for March 2006 -200yuan/ton 68800---69400 2656
