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SunSirs: Good Atmosphere for Downstream Goods Delivery, Boosting China's Cocoon Silk Market
December 23 2020 08:55:33SunSirs(Linda)

According to SunSirs price monitoring, since mid-December, the domestic cocoon silk market has risen slightly. As of December 22, the average price of raw silk in the market was 315,000 yuan/ton, an increase of 3.45% from December 15 and a year-on-year decrease of 15.27%; The average market price was RMB 94,250/ton, up 1.89% from December 15 and down 23.99% year-on-year. The current price of dry cocoon in Guangxi is 93500 yuan/ton, and the price of raw silk is 320,000 yuan/ton; the price of dry cocoon in Jiaxing is 95,000 yuan/ton, and the price of raw silk is 310,000 yuan/ton;

Under the influence of the epidemic, the silkworm chrysalis market has slowed down domestic and international purchases, and domestic silkworm chrysalis stocks continue to increase. Some wholesalers with large inventories are selling their inventory at a loss, and chrysalis prices will continue to fall. The loading price of fresh pupae in Guangxi factory is generally RMB 1,0500-11,500/ton for Class A, RMB 9500-10500/ton for Class B, RMB 8,500-9500/ton for Class C. The basic loading median price is 9000-10000 yuan/ton. Wet and dry pupae are A grade 4600 yuan/ton, B grade 4200 yuan/ton. Feed dried silkworm pupa is 7200-7500 yuan/ton.

In terms of silk, the price of pupa lining cotton is around 270,000 per ton, and the price of cocoon cotton is around 320,000 per ton. Under the influence of Guangxi silk reeling manufacturers' start-up volume and online sales, pupa lining rose rapidly, and the price gap with the upper cocoon continued to narrow.

Recently, due to the better atmosphere in the downstream market, inventory pressure has eased. At the same time, orders for the Spring Festival are prepared in advance, and some textile enterprises just need to replenish the inventory, which has played a certain role in boosting silk prices. But on the whole, the textile market has returned to light in December. After the wave of orders for Double Eleven, Double Twelve and the Christmas season, follow-up orders are insufficient. Textile mills still purchase as they use, and the operating rate of traditional textile enterprises in the off-season has declined. At the same time, repeated overseas epidemics have made it difficult to boost demand, and there is insufficient export demand from India, Europe and the United States.

SunSirs analysts believe that into late December, the off-season characteristics of the textile industry's demand will continue to be highlighted, and companies will still face flat production and sales, reduced profits, and tight funds. The wait-and-see attitude is relatively strong, and the support for the price of cocoon silk by just-needed purchase is very limited. The low season of the industry affects the price of cocoon silk in the future or will weaken within a narrow range.

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

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