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The market was calm and quiet in the last two weeks with most prices still fluctuating within narrow ranges. Aug. Raw Silk opened 191450 yuan and closed 191150 yuan. March Raw Silk opened 194100 yuan and closed 193800 yuan. Aug. Dried Cocoon opened 58720yuan and closed 57520 yuan. March Dried Cocoon opened 62900 yuan and closed 63100yuan per ton.

In the spot market, cocoon and silk prices have remained largely steady in the last two weeks. Silk sales behaved some better. Silk production and consumption are likely to be well balanced this year compared to previous years, however, also maybe a lull before the storm. The figures from China Customs showed that the export value of pure silk commodity in the first six months of this year dropped by 7.74% year-on-year. For now, the market is focusing on the state control activities. Also weighing on prices is the fear of how silk export develops.

Daily Chart for March Raw Silk　　　Unit: 10000 yuan per ton