Search
Info Center
Home > Info Center > CCSE Review
Return
ReturnIs the policy bottom the real bottom? (Dec.2-8,2006)
Author：
admin
PublishDate：
2006-12-08 15:59:00
Hit：
478
All delivery months settled higher on CCSE this week. Influenced by the article on market stabilization released by China National Cocoon & Silk Coordination Office on Dec. 4th,main months managed to hold above critical levels. Active March and September Raw Silk closed at 222170 yuan and 208580 yuan respectively. And active March and September Dried Cocoon closed at 75400 yuan and 66280 yuan respectively.
Daily chart for March Raw Silk: RMB Yuan 10,000
From the technical view, this could be regarded as a rally after the indicators were oversold. We will witness whether the electronic rally will continue to boost the spot transactions in the coming weeks.
On CCSE spot market, export enquiries being received are likely not to increase as against last month, however, trading prices were some higher than electronic prices. Added to this is the continuous expansion on the reeling production capacities, which would push the cocoon consumption of cocoon higher this year and make producers sell low and buy high raw materials more constantly. Overall, the market maintain a mood of caution amid optimism.
