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ReturnA sign of bottoming out?( Nov. 3-9,2007)
Author：
admin
PublishDate：
2007-11-09 17:08:00
Hit：
8563
Like a game of limbo daring party guests to see just how low they can go, cocoon and silk prices are testing traders’ patience and wisdom. This week electronic prices bottomed out and began to climb up strongly. March Raw Silk rose by 12000 yuan to close 176100 yuan per ton. March Dried Cocoon rose by 4600 yuan to close 56300 yuan. It’s a sign of reversal or only a rebound, the market keeps cautious.
With the end of 2007 cocoon crop, it's likely an imbalanced year again.
Daily Chart for Spot Month Raw Silk Unit: 10000 yuan per ton
