Search
Info Center
Home > Info Center > CCSE Review
Return
ReturnChanges in trader confidence controlled the market (Oct.1-13, 2006)
Author：
admin
PublishDate：
2006-10-13 17:03:00
Hit：
487
Prices continued to close higher. For October contracts, the last closing price is 273470yuan for Raw Silk and 90060 yuan for Dried Cocoon. Active March Raw Silk toughed new high of 280790 yuan and closed at 277370 yuan and March Dried Cocoon touched new high of 91580 yuan and closed at 90380yuan. Trading volume decreased with sharp ups and downs in prices.
The surge in purchasing price of mid-autumn silkworm cocoon in Zhejiang and Jiangsu, from 1500yuan, to 1600 yuan, even above 1700 yuan, boosted the market sentiment after the long holiday. Currently, cocoon cost is around 270000 yuan for one ton of raw silk, which is very clear to traders.
But affected by the fading stimulation of the bullish news and the need of technical correction, prices went down on Thursday and Friday.
The demand situation will dominate the market in the coming days.
The surge in purchasing price of mid-autumn silkworm cocoon in Zhejiang and Jiangsu, from 1500yuan, to 1600 yuan, even above 1700 yuan, boosted the market sentiment after the long holiday. Currently, cocoon cost is around 270000 yuan for one ton of raw silk, which is very clear to traders.
But affected by the fading stimulation of the bullish news and the need of technical correction, prices went down on Thursday and Friday.
The demand situation will dominate the market in the coming days.
