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Electronic Prices closed mixed today after the correction of last Friday. The bullish spot market and the large capital of selling side resulted in the consolidation of CCSE electronic market. But Nov. price sustained higher than March’06 prices these days. Meantime, sellers didn’t seem to choose to liquidate at current time.

Technically, heavy pressure was found at above 73000 yuan/ton for March dried cocoon and 230000yuan/ton for March raw silk, which was formed in October. Given recent rally, the technical resistance made traders feel at a loss with regard to the market ahead. If the market shows no strength, the market will probably continue consolidation this week.
　
In CCSE spot market, offers kept higher than electronic market.


　　　　　　　　　Change Open-close prices Net position
Raw Silk for Nov. 2005　　　0 233900---233900　502
Raw silk for March 2006　　-900yuan/ton 230300---229400 2384

Dried Cocoon for Nov. 2005　 100yuan/ton 74900---75000　 32
Dried Cocoon for March 2006　 400yuan/ton 71900---72300　4560