Last trading week before National Day (Sept.26-Sept.30, 2005)
Author:
admin
PublishDate:
2005-10-07 10:59:00
Hit:
545
During last week’s electronic trading sessions, traders kept busy. After a strong start in Monday, electronic prices consolidated no doubt affected by the lower holiday-week demand and leave-to –see activities. But prices, especially raw silk prices, pushed up again on the latter part of this week on the news of cocoon output decrease. But the final output data would be confirmed and made it public by official authorities. March’06 Dried Cocoon hit a high of 69700 yuan and then consolidated below 70000 yuan. Overall, the market went up dramatically.
Cocoon output will rule the market in the coming weeks, however, the final demand is a decisive factor.
Change Open Price Close Price Net position
Raw Silk for Oct. 2005 6300yuan/ton 211100 217400 614
Raw silk for March 2006 5400yuan/ton 212600 218000 2096
Dried Cocoon for Oct. 2006 1400yuan/ton 65200 66600 30
Dried Cocoon for March 2006 2000yuan/ton 67100 69100 3232