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ReturnPrices went lower, showing weakness (Nov.25-Dec.1, 2006)
Author：
admin
PublishDate：
2006-12-04 15:33:00
Hit：
477
CCSE electronic prices dropped to new lows this week. Dec. Raw Silk dropped by nearly 10000 yuan to reach 219320 yuan per ton on Friday. March’07 Raw silk closed at 220070 yuan.
Silk traders registered some drop in sales with mills stacking up unsold stocks, hence, rising stocks and demand no more expected rebounding before the year end seemed to contributing to the price plummet this week. Some silk reeling mills sold losses due to the fund shortage near the year-end. Speculative funds grasped the bearish fundamentals to start more systematically selling on the electronic market.
The scenario has been prevailing as raw silk prices were persistently falling, especially white reeled filature witnessed a slump. However, doupion silk yarn market seemed to be more optimistic.
Silk traders registered some drop in sales with mills stacking up unsold stocks, hence, rising stocks and demand no more expected rebounding before the year end seemed to contributing to the price plummet this week. Some silk reeling mills sold losses due to the fund shortage near the year-end. Speculative funds grasped the bearish fundamentals to start more systematically selling on the electronic market.
The scenario has been prevailing as raw silk prices were persistently falling, especially white reeled filature witnessed a slump. However, doupion silk yarn market seemed to be more optimistic.
