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Prices higher modestly (July 8-21,2006)
Author:
admin
PublishDate:
2006-07-21 17:06:00
Hit:
453

July Dried Cocoon and Raw Silk settled at 74200yuan and 234500 yuan per ton on the last trading day of July 11st.

All months prices rose slightly with increasing anticipated delivery volumes in the past two weeks. Active Sept. and March Dried Cocoon closed at 72300 yuan and 67600 yuan per ton respectively. And active Sept. and March Raw Silk Closed at 221600 yuan and 208700 yuan per ton respectively.

As for the summer cocoon crop, purchase prices in different areas hit record high with relatively worse quality due to weather-related problems. On the other hand, farmers in major cocoon producing areas are increasing the order volume of autumn silkworm eggs responding to high prices.

Key factors in price forecast for the second half of this year is whether the relatively low level of export for the first of this year will sustain or change and the autumn cocoon harvest anticipation. Overall, the market is waiting for positive leads. Though crop prospects loom over the market, maybe demand is expected to neutralize the effect.
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