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This week is an unpeaceful one in active trading. All contracts closed higher with larger trading volume on most-speculative buying on forecast of decreasing mid-autumn silkworms raising volume. March Raw Silk opened 195900 yuan and closed 203700 yuan, up by 7800 yuan per ton. March Dried Cocoon opened 63900 yuan and closed 67600 yuan, 3700 yuan per ton higher than last week. Buyers are optimistic the market is moving away from the market.

This year China’s prices for stock share and agricultural products hikes, the new rise in cocoon and raw silk prices are in people’s expectation. However, if the demand is dull, whether this new rise now signals the end of the new end or not is a question. There will be enormous pressure that could continue to push prices higher.

Next week the national spring silkworm cocoon harvest conference is to be held in Beihai, a coastal city in Guangxi, which will be some influence on the electronic market.

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