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Electronic market prices fluctuated at high levels and closed higher.
Raw silk prices eased a little and then picked up. As for dried cocoon, trading was still concentrated on March’06, however, its trading volume couldn’t be enlarged these days. Till now, buyers still rule the market.

Fundamentally, spring and middle-autumn cocoon crops, which accounted for most of total output around the year, have ended. The explosion in consumption has brought stocks down to very low levels. As we see the stocks go down, silk prices will sustain at high levels.
　
　　　　　　　　　　Change 　　Range Net position
Raw Silk for Nov. 2005　　　0 224000---225200　592
Raw silk for March 2006　　600yuan/ton 225800---227600 2362

Dried Cocoon for Nov. 2005　 500yuan/ton 71400---72000　 18
Dried Cocoon for March 2006　 400yuan/ton 72200---72800　3250