Prices Rebounded, Cautious on Outlook( May 12-18,2007)
Source: MOFCOM Date: 2007-05-24
his week we see a sharp rebound in electronic prices. June Raw Silk closed up 6000 yuan at 189170 yuan with increasing trading volume. June Dried Cocoon opened 55870 yuan and closed 56370 yuan. Sept. Raw Silk opened from 179180 yuan to close 189680 yuan, up 10500 yuan per ton. Sept. Dried Cocoon opened 55480yuan and closed 58780 yuan, up 3300 yuan.
In the spot market, some silk mills are busy purchasing raw materials for they undersold their stockpiles to take liquid capital during the previous months. Traders will take a cautious approach toward the market.
