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SunSirs: Chinese New Cocoons Continue to be Listed
May 15 2020 08:23:21SunSirs(Linda)

According to SunSirs price monitoring, the Chinese cocoon silk market has slowed down this week, rising first and then declining. As of May 14, the average price of the dry cocoon market was 83,000 yuan / ton, which was flat week-on-week; the average price of the raw silk market was 267,750 yuan / Tons, a weekly increase of 0.85%. Among them, the current price of dry cocoons in Jiaxing, Zhejiang is 85,000 yuan / ton, the price of raw silk is 255,000 yuan / ton, the price of dry cocoons in Guangxi is 81,000 yuan / ton, and the price of raw silk is 283,000 yuan / ton. At present, with the continued listing of new cocoon, it forms a certain support for the price, but the downstream demand is sluggish, the transaction is general, and the market demand has not yet recovered, so there has been a slight decline in the second half of the week.

This week, the second batch of spring cocoons in Yizhou, Guangxi continued to be listed. It was learned from some local silkworm cocoon purchasers that, thanks to the recent clear weather conditions, the quality of this batch of silkworm cocoons is generally good. Relatively stable, the price basically remained at around 32 yuan / kg. On May 12, most of the cocoon stations in Huaiyuan, Desheng and other towns in Yizhou have successively acquired the second batch of spring cocoons. The purchase price is about 30-33 yuan / kg, which is about 20% lower than the same period last year. In terms of quality of silkworm cocoons, the overall quality of silkworm cocoons is generally good. According to estimates by local cocoon stations, the unwinding rate of purchased silkworm cocoons exceeds 60%, and the listing volume is not too much. The peak of the second batch of spring cocoons will be ushered in this weekend. The first batch of spring silkworms in Neijiang in Sichuan has entered the fifth instar period, and is ready to usher in a harvest.

Although the current textile market as a whole is still in the off-season, the domestic trade market has recently shown signs of improvement, grey fabric inventories have been consumed, and the comprehensive operation rate of Jiangsu and Zhejiang looms has increased to around 50%. And recently, Bangladesh, Myanmar, Cambodia and Vietnam have resumed production. In early May, the Bangladesh government decided to restart more than 2,000 textile factories. Up to now, nearly half of the number of garment factories in Bangladesh has been gradually resumed. With the deepening of the resumption of production, the large number of foreign trade orders will also be a high probability event.

SunSirs analysts believe that most of the fresh cocoon silk manufacturers in Guangxi have recently recovered funds to purchase fresh cocoons. At the same time, according to the cost calculation of the new cocoon season, the enthusiasm for taking goods is relatively strong. The inquiry and sampling atmosphere of the downstream textile fabric market is better than that in the earlier period. The conventional domestic trade varieties are slightly sold, and the manufacturers' enthusiasm for production after the holiday is fair. Therefore, prices have rebounded. However, in the future market, the terminal textile industry will not change, and the upward pressure will still exist. It is expected that the cocoon silk market will weaken.

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

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