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CCSE electronic prices dropped slightly compared to April end. Dominate Sept. Raw Silk closed 201000 yuan with increasing contract volumes. Sept. Dried Cocoon closed 63400 yuan.

According to a recent survey from 120 silk reeling and weaving mills and silk trading corporation in the nationwide from China Silk Association, 32.3 percent say the cocoon output in the second quarter this year will rise slightly compared to same period last year, and 45.2 percent think the cocoon output will drop slightly; 74.2 percent say the cocoon price in the second quarter this year fluctuate between 50,000 yuan and 60,000 yuan; 66.7 percent say raw silk price in the second quarter this year fluctuate 180,000 yuan and 200,000 yuan.

Zhejiang Silk Association had 2008 Spring Cocoon Harvest Meeting in Hangzhou on May 15th. Based on current situation, the meeting set the provincial purchasing price for fresh spring cocoon to be 1030 yuan per 50kg, 3.5 percent higher than actual purchasing price of last spring.

Sichuan’s some silk enterprises have been hit hard by Monday’s major earthquake., which has led to major production and logistics problems.

Daily Chart for Sept. Raw Silk

Unit : 10000 yuan