Search
Info Center
Home > Info Center > CCSE Review
Return
ReturnPrice rebounded actively ( April 21-29,2007)
Author：
admin
PublishDate：
2007-04-29 17:06:00
Hit：
498
CCSE electronic prices moved within narrow ranges and then rebounded actively late this week. May Raw Silk closed 183080 yuan, up by 9000 yuan per ton. Sept. Sept. Raw Silk closed 182700 yuan, up by 12000 yuan per ton. May Dried Cocoon rose by 1800 yuan to close 53510 yuan per ton. Sept. Dried Cocoon rose by 4600 yuan to close 56680 yuan per ton.
Influenced by the elctronic market action, it also led to a rise in fresh cocoon purchasing price in some regions of Guangxi, from 700-750 yuan to 800, even above 800 yuan ( around 32% for raw silk percentage of careless cocoon). In Jiangxing and Huzhou, Silkworm eggs is distributed to silkworm raisers around April 29. According to Zhejiang Agricultural Bureau, the province will distribute one million boxes of silkworm eggs, about 5% higher than same period last year.
From the technical view, the price move this week is a medium period rebound after prices falling since last October. Price space for down trend became narrower from traders’ emotions.
In current spot market, raw silk dealing is more active than previous days. Selling price stopped to steady and went up slightly gradually. From previous years’ experience, prices rose in April and May. Whether the price rebound will last till cocoon crop finishes this year, it’s hard to say now.
So the following factors should be taken into account in the coming weeks:
1)In electronic market whether sellers (mainly referring to silk manufacturers, excluding speculators) are willing to liquidate their contracts and suffer loses along with the price uptrend.
2)Abnormal climate is an important factor to influence traders emotion during silkworm growing period.
3)Spring cocoon output in the countrywide will rise or not.
4)Cocoon purchasers’ emotion after they pushed autumn cocoon price higher to suffer losses.
5) Demand situation in May
Daily Chart for Sept. Raw Silk
Influenced by the elctronic market action, it also led to a rise in fresh cocoon purchasing price in some regions of Guangxi, from 700-750 yuan to 800, even above 800 yuan ( around 32% for raw silk percentage of careless cocoon). In Jiangxing and Huzhou, Silkworm eggs is distributed to silkworm raisers around April 29. According to Zhejiang Agricultural Bureau, the province will distribute one million boxes of silkworm eggs, about 5% higher than same period last year.
From the technical view, the price move this week is a medium period rebound after prices falling since last October. Price space for down trend became narrower from traders’ emotions.
In current spot market, raw silk dealing is more active than previous days. Selling price stopped to steady and went up slightly gradually. From previous years’ experience, prices rose in April and May. Whether the price rebound will last till cocoon crop finishes this year, it’s hard to say now.
So the following factors should be taken into account in the coming weeks:
1)In electronic market whether sellers (mainly referring to silk manufacturers, excluding speculators) are willing to liquidate their contracts and suffer loses along with the price uptrend.
2)Abnormal climate is an important factor to influence traders emotion during silkworm growing period.
3)Spring cocoon output in the countrywide will rise or not.
4)Cocoon purchasers’ emotion after they pushed autumn cocoon price higher to suffer losses.
5) Demand situation in May
Daily Chart for Sept. Raw Silk
