Prices slump Slowed Consumption (Nov. 6th-10th, 2006)
Author:
admin
PublishDate:
2006-11-10 17:05:00
Hit:
486
This week CCSE electronic prices were heading towards new lows amid growing pessimism. Active March Raw Silk fell 12,000 yuan from last Friday’s 245,270 yuan to 233,270 per ton with decreased anticipated delivery volume. Key March Dried Cocoon fell 3,800 yuan to close at 77700 yuan per ton with decreased anticipated delivery volume.
Speculative fund were apparently disappointed by market performance and drove down prices more heavily.
Prices further declined. "How low do prices need to go in order to stimulate demand?," some traders asked. Many silk reeling and weaving mills were felling the pinch of violent fluctiation in prices as stock piled up. In fact the market demand was draged down by the booms and slumps in prices.