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ReturnBullish market unchanged (Sept. 16-22,2006)
Author：
admin
PublishDate：
2006-09-22 17:07:00
Hit：
465
This week the general tone of the cocoon and silk market is bullish. Producers and marketers predict more upside prices potential in the coming weeks. So CCSE electronic prices continued to climb up with decreased anticipated delivery volume. Responding to the circular on the reduction of Daily Price Limit issued Tuesday electronic prices dropped at first but then rebounced. October and March Raw Silk closed at 260150 yuan and 266030 yuan per ton respectively and hit new highs. Meantime March Dried Cocoon touched the highest 87000 yuan and closed at 86600yuan.
Traders discussed advantages and disadvantages of the policy on the adjustment of Daily Price Limit. Many risks and uncertainties also arose from it. However, it will be tested in practice.
This week factory orders were increasing. Raw silk and silk fabric were traded at higher prices. The trades showed more active.
Traders discussed advantages and disadvantages of the policy on the adjustment of Daily Price Limit. Many risks and uncertainties also arose from it. However, it will be tested in practice.
This week factory orders were increasing. Raw silk and silk fabric were traded at higher prices. The trades showed more active.
