After the Dragon Boat Festival holidays, current purchase price of cocoon across the country is around 43 Yuan / kg.
Purchase price of spring cocoon in Jiangsu and Zhejiang is around 44-46 Yuan / kg. The price in Yunnan province averages at more than 48 Yuan / kg, the highest level in history.
Most cocoon and silk contracts closed lower on June 8. Nearby week contract of dry cocoon fell 100 Yuan to close at 116,900 Yuan / ton and the most active contract 093 fell 1,800 Yuan to close at 115,700 Yuan / ton.
Raw silk contract 062 fell 1,000 Yuan to close at 390,000 Yuan / ton and September contract 093 fell 2,200 Yuan to close at 371,300 Yuan / ton.
At present, domestic textile enterprises are approaching off-season, due to which orders have been relatively reduced.
From current market fundamentals, demand from downstream textile consumers remains weak, but it does not rule out a rebound caused by the need of replenishment in short-term.
Fibre2fashion News Desk - China
marketing@alchempro.com
