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ReturnHigher, concerned about export (May 27-June 2, 2006)
Author：
admin
PublishDate：
2006-06-02 16:53:00
Hit：
468
All the delivery months settled higher this week. Active Sept. Raw Silk touched the highest of 221600 yuan on Thursday and closed at 216500 yuan per ton on Friday, 13200 yuan higher than last weekend. And Sept. Dried Cocoon touched the highest of 70800 yuan on Thursday and closed at 69000 yuan per ton on Friday, 2800 yuan higher than last weekend. Meantime, the price drop on Friday seems to be a technical correction and the market reaction to Indian customs notification on imposition of silk fabric anti-dumping taxes.
Spot market performed actively. Raw silk 3A rated between 225000-235000 yuan per ton. And the export price of Raw Silk 3A to India was around 26 dollars per kg. The market is on the way of confidence and recovery. Now players in the market should pay much attention to the policy-side action and the export after the cocoon crop.
