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Dried cocoons Raw silk News
SunSirs: Demand Performance Is Expected to Improve, Dried Cocoons and Raw Silk Prices Will Remain Warm
February 25 2022 14:26:05SunSirs(John)

Price trend

According to the price monitoring of SunSirs, the domestic market price of dried cocoons and raw silk fluctuate upwards in February. As of February 24, the average price of dried cocoons in the market was 145,000 RMB/ton, an increase of 0.69% from the beginning of the month and a year-on-year increase of 34.26%. The average market price of raw silk was 450,625 RMB/ton, an increase of 0.95% and a year-on-year increase of 33.92%.

Analysis review

Although the downstream factories are gradually starting up, the current demand in the end-consumer market is recovering slowly. Manufacturers are more cautious in purchasing raw materials and lack enthusiasm. The market is still in a recovery period. After the Spring Festival, silk and satin have gradually started to buy goods and have some heavy volume, but the transactions are still dominated by small and medium orders, and the terminal is still cautious about the market outlook. Recently, the range of raw silk transactions across the country has expanded, and manufacturers in northern Jiangsu, Yunnan, Sichuan and other places have successively made transactions.

In terms of the import and export of silk commodities, according to China Customs statistics, the import and export volume of silk commodities in December 2021 was US dollars 210 million US dollars, a year-on-year increase of 51.21%. Among them, the export value was 167 million US dollars, an increase of 17.55% month-on-month and a year-on-year increase of 61.92%; the import value was 42.7218 million US dollars, an increase of 36.29% month-on-month and 20.14% year-on-year.

From the perspective of the textile industry, the textile index on February 24 was 1,061 points, an increase of 15 points from 1,046 points at the beginning of the month, a decrease of 8.22% from the highest point in the cycle of 1,156 points (2018-09-03), and an increase of 55.80% from the lowest point of 681 points on August 13, 2020. (Note: The cycle refers to 2011-12-01 to the present)

Market outlook

Analysts of SunSirs believe that the downstream is still sluggish and suppresses the price increase, and the spot trading activities are slowly recovering. Various industrial chains have just started to resume production, the silk consumer goods market has not seen significant improvement, and the market has been slow to start. With the resumption of production and production of terminal looms, the demand performance is expected to improve. It is expected that the price of dried cocoons and raw silk will remain volatile and warm in March.

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

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