SunSirs: Stock up Before Chinese Spring Festival, Cocoon and Silk Rebound

According to the price monitoring of SunSirs, the domestic cocoon and silk market has rebounded slightly in the past week. As of January 14, the average market price of dried cocoon was 125,500RMB/ton, 1.62% higher than that of January 6, and the average market price of raw silk was 378,000RMB/ton, 2.44% higher than that of January 6. At present, the price of dried cocoon in Jiaxing, Zhejiang Province is 121,000RMB/ton, the price of raw silk is 375,000-385,000RMB/ton, the price of dried cocoon in Guangxi Province is 130,000RMB/ton, and the price of raw silk is 381,000RMB/ton.

January 6-13, market prices of cocoon and silk in India (INR/kg)

In the international market, as of January 14, the price was 334-460 rupees/kg for hybrid cocoon, 775-875 rupees/kg for bivoltine cocoon, 690-700 rupees /kg for polyvoltine cocoon and 2,980-3,820 rupees /kg for bivoltine silk. The price of hybrid cocoon has declined; the price of bivoltine cocoon and polyvoltine cocoon has not fluctuated temporarily; the price of bivoltine silk has increased.

Near the Spring Festival, the downstream enterprises have a strong atmosphere of stock, and the raw silk price is more willing to hold the price. Although it is not as prosperous as the previous year's Spring Festival, the silk factory has more or less imported raw materials in recent days, and the raw silk and satin trade is still more active than before. With the gradual production of spring and summer clothing, cocoon and silk fabrics are loose.

In terms of import and export, from January to November 2019, the total import and export volume of China's real silk goods was 1.829 billion US dollars, down 38.02% year on year, accounting for 0.68% of the total import and export volume of China's textiles and clothing. Among them, the export value of real silk goods was US $1.612 billion, down 41.27% year on year, and the import value was US $217 million, up 5.19% year on year.

Analysts from SunSirs believe that the Spring Festival holiday is approaching, the number of production stops and holidays in the downstream market is expanding, and the startup rate is significantly reduced. Now, the startup rate of water jet and air-jet looms in Shengze area is about 70%. With the end of the market transaction, there are not many manufacturers, and the stock of grey cloth has increased slightly. Now, the stock of grey cloth in Shengze area is about 38-39 days old. Therefore, the market transaction atmosphere will gradually weaken, and it is expected that the market price of cocoon and silk will be more likely to fall.

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