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SunSirs: Textile Cocoon and Silk Went Lower Obviously
November 25 2019 10:34:47SunSirs(Linda)

According to the price monitoring of SunSirs, the market prices of domestic cocoon and silk have decreased obviously this week. The average market price of dry cocoon was 129,000RMB/ton, 5.15% lower than that of the beginning of this week, 7.19% lower year on year. The raw silk market average price was 392,900RMB/ton, 3.94% lower than that of the beginning of this week, 3.46% lower year on year. Cocoon prices vary from region to region. The main production areas are still with prices but no market, without the cooperation of trading volume, there has been a strong wait-and-see atmosphere in the market.

The Indian market prices (up to November 21): the price of the hybrid cocoon was 272-405INR/kg, the price of the bivoltine cocoon was 450-925INR/kg, the price of the polyvoltine cocoon was 350-380INR/kg, the price of the bivoltine silk was 2,470-3,400INR/kg. The price of the hybrid cocoon decreased around 1.47% than last day. The price of the bivoltine cocoon increased. The price of the polyvoltine cocoon decreased slightly. The price of the bivoltine silk did not have an obvious change. (1INR = 0.098RMB)

Affected by the decline of cocoon and silk spot market, it is difficult to release the downstream purchase volume in a centralized way, and it is still dominated by rigid demand purchase. In the mood of buying up and not buying down, manufacturers try to keep raw material inventory as low as possible. At present, most weaving enterprises' overall orders are dominated by "small batch and multi batch". At present, the comprehensive starting rate of Jiangsu and Zhejiang looms is around 74%.

In terms of import and export, according to the statwastics of China Customs, the import and export volume of silk goods from January to September was 1.487 billion US dollars, 39.82% less year on year, accounting for 0.67% of the total imports and exports of textiles and clothing. Among them, the export of silk products was 1.316 billion US dollars, 42.85% less year on year, accounting for 0.65 of the total exports of textiles and clothing; the export volume of textiles and clothing decreased by 2.81% year on year. The import volume was 171 million US dollars, up 1.5% year on year, accounting for 0.93% of the import volume of textiles and clothing. The import of textiles and clothing fell 6.78% year on year.

According to analysts of SunSirs, the current fall of cocoon and silk prices from a high level is a rational return and a direct reflection of the current demand unable to undertake price transmission. Cocoon and silk market transactions have cooled down. At present, orders are basically coming to an end. Market goods are still placing orders. Some orders will be placed next spring and summer, but the order volume is not large, and the product delivery speed is average. Overall, it is expected that the market of cocoon and silk will remain weak in the short term.

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