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ReturnPrices corrected ( July 9-20,2007)
Author：
admin
PublishDate：
2007-07-20 16:45:00
Hit：
473
The past two weeks we saw CCSE electronic prices fall, especially late this week. Sept. Raw Silk fell from July 9th’s 195080 yuan to close at 187280 yuan Friday. March 08 Raw Silk closed at 191400 yuan from July 9th’s 203400yuan. Sept. Dried Cocoon opened 62580 yuan July 10th and closed 59080 yuan July 20th, down by 3500 yuan per ton. Sept. Raw Silk opened 66000 yuan July 10th and closed 61800 yuan July 20th, down by 4200 yuan per ton.
There are bullish and bearish factors for cocoon and silk futures. The market knows these but how it weighs them from time to time is the mystical element which draws us back day in and day out.
China’s price index increased this year including materials cost, labor cost, freight rate and other cost, representing a considerable cost burden for silkworm farmers and also silk producers. There is great expectation for 2008 Olympic Chance in the silk market.
From statistics from Chongqing Cocoon and Silk Coordination Office, many silk reeling mills ran losses in the first half of this year,.
Large swathes of China including Sichuan, Chongqing and Huaihe River Valley have been hit by severe flooding, it raised quality and quantity concerns on summer and autumn cocoon crop among market traders. However, the electronic market showed no sensitivity to the weather development these days.
March2008 Raw Silk Daily Chart Unit: 10000 yuan per ton
There are bullish and bearish factors for cocoon and silk futures. The market knows these but how it weighs them from time to time is the mystical element which draws us back day in and day out.
China’s price index increased this year including materials cost, labor cost, freight rate and other cost, representing a considerable cost burden for silkworm farmers and also silk producers. There is great expectation for 2008 Olympic Chance in the silk market.
From statistics from Chongqing Cocoon and Silk Coordination Office, many silk reeling mills ran losses in the first half of this year,.
Large swathes of China including Sichuan, Chongqing and Huaihe River Valley have been hit by severe flooding, it raised quality and quantity concerns on summer and autumn cocoon crop among market traders. However, the electronic market showed no sensitivity to the weather development these days.
March2008 Raw Silk Daily Chart Unit: 10000 yuan per ton
