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Prices rebounded from recent slump ( Oct. 11- Dec.19,2008)
Author:  admin     PublishDate:  2008-12-19      Hit:  15134

When most people are in depressive mood during the economic downturn, cocoon and silk prices rebounded.March dried cocoon bounced back above 46000 yuan from lowest 36000 yuan per ton. March raw silk rebounded above 159000 from lowest 135000 yuan per on. September dried cocoon bounced back 48000 yuan from lowest 39000 yuan per ton. March raw silk rebounded 163000 from lowest 143000 yuan per ton.

First, the rebound is a technical and policy need. Cocoon and silk prices drops two steeply and too fast in the last two months, it means therefore that there are potential technical rebounds on those opportunities to take profit for more or less short-term corrections to the oversold, just as many other commodities

Secondly, sellers liquidated their contracts and correspondingly pushed up electronic prices.

From fundamental view, many silk reeling mills are forced to be shut up or have l long holiday due to suffering losses this tome around and in the coming month. Supply factor prop up the raw silk price. And cost of waste cocoon for silk quilt is 40000 yuan per ton theses days, so the cocoons for silk reeling have a good rebound.


 
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