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This week CCSE electronic prices rebounded earlier in the week but than eased on profit-taking combined withtrade-selling. . The last closing prices for December Raw Silk and Dried Cocoon is 218720 yuan and 73840 yuan per ton respectively. Active March Raw Silk opened at 222170 yuan, touched highest 227270 yuan and closed at 220670 yuan. Active Sept. Raw Silk opened 208580 yuan, touched highest 214580 yuan and closed 206780 yuan. As the year comes to an end, the trader interest is changing to Sept. contracts.
From the technical view, prices were seeking lower support.

Daily Chart for Sept. Raw Silk


In CCSE spot market, trading volume for raw silk this week was much higher than previous weeks, but prices didn’t go higher correspondingly. Prices always seek the level at which the most business can get done.