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ReturnSlowly moving up but following an unclear direction ( Nov. 24-30,2007)
Author：
admin
PublishDate：
2007-11-30 16:59:00
Hit：
8595
This week electronic prices moved up slowly. Overall the market was quiet. Active March Raw silk closed 174600 yuan, up 2700 yuan form last weekend. March Dried Cocoon rose by 1400 yuan to close 54300 yuan.
The space for a sharply downtrend appeared narrow, so buyers tried to lift higher on the market. However, the market needs time to keep stable. Meantime, given the capital circulation needs of silk enterprises at the year end and other present conditions, it would not be very easy for prices to rise sharply.
In the spot market, raw silk quotes differed quite, especially between low-grade and high-grade raw silk. Because of cocoon quality this year low-grade silk seems over-supply and high-grade silk appears shot of supply. And at present the electronic prices were dominated by low-cost raw silk at low-grade.
Daily Chart for Spot Month Raw Silk Unit: 10000 yuan per ton
