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ReturnAn Indian trader's weekly review on India silk market movement(till Aug. 27, 2005)
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admin
PublishDate：
2005-08-30 08:59:00
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Review of last week in india uptil aug 27th
( by SURESH MEHTA, M JIJU SILK MILLS)
The downtrend witnessed in the last few weeks has finally stopped and we have seen a bounce back from RS 1300 to RS 1310/1315 in this weekend , seeing the market getting stable in china the indian market is responding to it and we may see stability here too, however in the coming week we have a major festival (sep 7)and the fabric industry will be shut down from 5th of sep for a week leading to low yarn demand locally for the next 10 days from sep 5th onwards.it may also lead to local prices dropping again to rs 1300 levels.
future idea
In case the prices drop in india , the jiaxing exchnage price should
adjust itself to abt rmb 190-200 to initiate major buying from indian
importers.
this price range will support the buying decisions immediately and we
can witness huge orders for raw silk yarn 3/4 a grade at rmb 190-200 levels.
This is a weekly review specially written for china cocoon and silk
exchange.
