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ReturnPrices dropping straight this week(June 16-22,2007)
Author：
admin
PublishDate：
2007-06-22 17:04:00
Hit：
471
CCSE electronic prices slumped this week. Sept. Raw Silk fell from 203480 yuan to close 189680 yuan. Sept. Dried Cocoon closed 60580 yuan, down by 6800 yuan per ton. March 2008 Raw Silk fell from 212100 yuan to close 198900 yuan. March 2008 Dried Cocoon closed 63300 yuan, down by 6800 yuan per ton. Dominant buyers’ taking no action in the e-market , some news including export rebate cut and speculative forces bear much responsibility foe the price drop this week.
China reduced export tax rate from current 13% to 11% on knitted and woven garments as effective from July 1 mainly to curb export growth and it will be no grace period. It’s having an impact on export deals and market emotion.
The forth lot of fresh cocoon crop have arrived in Guangxi with better quantity and quality.
Daily Chart for Sept. Raw Silk Unit: 10000 Yuan per ton
China reduced export tax rate from current 13% to 11% on knitted and woven garments as effective from July 1 mainly to curb export growth and it will be no grace period. It’s having an impact on export deals and market emotion.
The forth lot of fresh cocoon crop have arrived in Guangxi with better quantity and quality.
Daily Chart for Sept. Raw Silk Unit: 10000 Yuan per ton
