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Dry cocoon & raw silk prices continue flaring up
15
Sep '10
Cocoon and silk markets showed another strong resurgence on September 14, after the decline and adjustment in the second half of the previous week, most dry cocoon contracts closed higher on the day.

Prices of dry cocoons increased in between 100-1000 Yuan / ton. Raw silk contracts closed higher between 500-5700 Yuan / ton, but forward month contract 11093 fell. Trade volume and price of raw silk increased in general.

Contract 094 fell 100 Yuan / ton to close at 87,400 Yuan / ton per ton, new contract 095 attracted little attention, the contract rose 100 Yuan / ton to close at 87,600 Yuan / ton. Contract 10103 rose 200 Yuan / ton to close at 88,000 Yuan / ton.

Contract 11013 rose 500 Yuan / ton to close at 87,000 Yuan / ton, the main contract 11033 rose 700 Yuan / ton to close at 88,500 Yuan / ton, contract 10053 rose 1000 Yuan / ton to close at 87,000 Yuan / ton. Overall trade volume of dry cocoon registered 30 lots on the day, total orders were 112 lots.

Raw silk market continued to expand in trade volume and price. Contract 093 rose 4500 Yuan / ton to close at 341,600 Yuan / ton per ton, contract 10113 rose 5700 Yuan / ton to close at 338,000 Yuan / ton.

The main contract 11033 rose 4500 Yuan / ton to close at 331,600 Yuan / ton and new contract 11093 fell 1000 Yuan / ton to close at 319,000 Yuan / ton.

It is reported from various areas that autumn silkworm breeding is very good, so it will be no surprise to see more cocoon supply in the second half than in the first half.

Fibre2fashion News Desk - China

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