Cocoon and silk markets in Guangxi province continued to be in an offensive state from the previous week and closed higher in this week. Dry cocoon returned back to the 110,000 Yuan mark.
Contract 11014 rose 600 Yuan to close at 110,000 Yuan, contract 11033 grew 1000 Yuan to close at 113,200 Yuan, contract 11053 incerased 200 Yuan to close at 101,000 Yuan, contract 11054 fell 200 Yuan to close at 106,500 Yuan and contract 11093 ascended 1200 Yuan to close at 98,800 Yuan.
Raw silk market too closed higher. Contract 11014 rose 1500 Yuan to close at 372,500 Yuan. Contract 11033 rose 4600 Yuan to close at 367,400 Yuan, contract 11043 rose 7000 Yuan to close at 363,000 Yuan.
At present raw silk contracts have no sufficient evidence to extend upward or downward trend. A further trend will be more visible only after profiling production situation of spring cocoons.
Fibre2fashion News Desk - China
marketing@alchempro.com
