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ReturnPrice uptrend wasnˊt accepted by market ( April 30-May 11,2007)
Author：
admin
PublishDate：
2007-05-11 16:33:00
Hit：
478
CCSE electronic market was closed from May 1-7 for Labor Day celebration. Some buyers and technical rebound requirements pushed up prices, however, such uptrend couldn’t be accepted by the market. Electronic prices slumped on May 10 and 11. The last closing price for May Raw Silk and Dried Cocoon is 183980 yuan and 56610 yuan per ton respectively. Sept. Raw Silk closed at 179180 yuan and Sept. Dried Cocoon closed 55480 yuan.
In the spot market, purchasing price changes of fresh cocoon was dominated by electronic market scenario to some extent. In Guangxi, purchasing price experienced a cycle—low, then high and then low. Traders emotion showed unsteady before cocoon harvest in Zhejiang and Jiangsu regions. Such price fluctuation is estimated to continue this month, however, cocoon purchasers and silk mills won’t benefit from price increasement before cocoon harvest.
Daily Chart for Sept. Raw Silk
In the spot market, purchasing price changes of fresh cocoon was dominated by electronic market scenario to some extent. In Guangxi, purchasing price experienced a cycle—low, then high and then low. Traders emotion showed unsteady before cocoon harvest in Zhejiang and Jiangsu regions. Such price fluctuation is estimated to continue this month, however, cocoon purchasers and silk mills won’t benefit from price increasement before cocoon harvest.
Daily Chart for Sept. Raw Silk
