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SunSirs: Bearish Factors Still Exist, Weak Cocoon Silk Market Trend
March 13 2020 09:32:13SunSirs(Linda)

According to the price monitoring of the SunSirs, the market price of domestic cocoon silk has declined slightly since March 12. As of March, on the 12th, the average market price of dry cocoon is 118,300 RMB/ton, down 1.74% from the beginning of the month, and the average market price of raw silk is 369,250 RMB/ton, down 1.73% from the beginning of the month. At present, the price of dry cocoon in Jiaxing, Zhejiang Province is 113,000 RMB/ton, the price of raw silk is 368,000-375,000 RMB/ton, the price of dry cocoon in Guangxi Province is 123,600 RMB/ton, and the price of raw silk is 370,500 RMB/ton.

Market price of Indian cocoon silk (March 4-11) unit: rupee/kg (1 rupee = RMB 0.0944)

Downstream demand gradually recovered. It is known that there are 66 resumption enterprises in Guangxi silk industry, with a resumption rate of 63%, which is still in the stage of resumption. At the same time, under the stimulation of a series of favorable news, such as a series of support and relief policies, the recovery rate of cocoon and silk processing enterprises is expected to rise significantly. This year, the first batch of spring silkworms in

According to analysts of SunSirs, the current situation of textile enterprises returning to work and production is good, and the market demand is gradually recovering, but the purchase of raw materials is mainly cautious, so the price of cocoon and silk has declined slightly in the near future. At the same time, the current international market and export trade are likely to be affected by some negative effects, and it is expected that in the short term, the price of cocoon and silk will be mainly subject to shocks and weak adjustment.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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