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Today electronic market prices closed higher for raw silk and consolidated for dried cocoon today. Oct. raw silk performed well and closed at 216800 yuan. Dried cocoon consolidated within narrow ranges due to previous profit margin. These days’ market suggested that the electronic market is expected to sustain the high levels. A break-through is to be seen. However, its extent and strength will be lower than the market participants expectation. Pressure is scaling up.

　　　　　　　　　　　　Change 　　　Range 　　Net position
Raw Silk for Oct. 2005　　　2400yuan/ton 214400---216800　570
Raw silk for March 2006　　1200yuan/ton 215900---217400　1982

Dried Cocoon for Oct. 2005　 100yuan/ton 66600---67100　 30
Dried Cocoon for March 2006　 200yuan/ton 68900---69300　　2840