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ReturnElectronic prices touched new lows (March 17-23,2007)
Author：
admin
PublishDate：
2007-03-23 16:34:00
Hit：
478
Prices of nearly all CCSE electronic month prices fell to lowest levels in six months on Friday because of a slowdown in buying activity this week. April Raw Silk closed 190580 yuan, compared to 205580 yuan last Friday. Sept. Raw Silk fell by 11100 yuan to close 178880 yuan. April Dried Cocoon closed 58070 yuan, compared to 61270 yuan last Friday. Sept. Dried Cocoon fell by 3800 yuan to close 53180 yuan.
It’s too soon to tell whether the dropoff will hold or was a short-term phenomenon, analysts said. But it definitely has the market’s attention for the moment, overshadowing the former market optimistic expectations. At the same time, demand seemed not to be reacting positively to the lows prices.
Next Monday is the delivery day for March contracts. Now March delivery works runs smooth and busy.
March end has come. Some quantities of raw silk and dried cocoons are still kept in warehouses. New crops will arrive in Guangxi in Middle April. Such factors were still putting pressure on the market. On the other hand, production cost is in increasing this year.
About The silk market outlook this year, feel free to discuss it. ( msn: esilkinfo@yahoo.com.cn)
Daily Chat for Sept. Raw Silk Unit: 10000 yuan per ton
It’s too soon to tell whether the dropoff will hold or was a short-term phenomenon, analysts said. But it definitely has the market’s attention for the moment, overshadowing the former market optimistic expectations. At the same time, demand seemed not to be reacting positively to the lows prices.
Next Monday is the delivery day for March contracts. Now March delivery works runs smooth and busy.
March end has come. Some quantities of raw silk and dried cocoons are still kept in warehouses. New crops will arrive in Guangxi in Middle April. Such factors were still putting pressure on the market. On the other hand, production cost is in increasing this year.
About The silk market outlook this year, feel free to discuss it. ( msn: esilkinfo@yahoo.com.cn)
Daily Chat for Sept. Raw Silk Unit: 10000 yuan per ton
