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SunSirs: 'Silver October' is Coming to an End, Chinese Market for Cocoon Silk has Fallen

October 28 2020 09:35:02     SunSirs (Linda)

The'Silver October' market is coming to an end, and the demand side is gradually weakening. According to the price monitoring of the business agency, the domestic cocoon silk market showed a downward trend at the end of October. The current average price of raw silk in the market is 295,000 yuan/ton, down 3.12% from the 25th , A year-on-year decrease of 28.05%; the average market price of dry cocoons was 90,500 yuan/ton, down 0.82% from the 25th and down 33.82% year-on-year. The current price of dry cocoon in Guangxi is 89,000 yuan/ton, and the price of raw silk is 300,000 yuan/ton.

Autumn cocoons in Guangxi continued to be listed. According to some local cocoon stations, the purchase price in Yizhou remained at around 42-44 yuan/kg; Baise had a higher purchase price due to its better quality of cocoons, reaching 42-45 yuan/kg. The late autumn cocoons in Dali, Yunnan began to be listed, and the current purchase price is 39-40 yuan/kg. It is still in the early stage of listing, and the number of cocoons on the market is relatively small.

The purchase of autumn cocoons in Qidong City, Jiangsu Province has been completed. The average purchase price of autumn cocoons this year is 32 yuan/kg, a decrease of 28.89% from 45 yuan/kg in the same period last year, and a 5.88 decrease compared with the average purchase price of spring cocoons this year of 34 yuan/kg, but the average output of autumn cocoons this year is 45.5 kg, the highest yield in many years, an increase of 28.17% compared with 35.5 kg in the same period last year, which is basically the same as this year's spring cocoons.

The fifth batch of silkworm cocoons in Chun'an County, Zhejiang Province, was first purchased at Langchuan, Fenkou and other cocoon stations on October 12, and as of October 25, all the cocoons had been collected and dried. In the late Mid-Autumn Festival this year, the output of cocoons was high and the quality was good. The average yield of cocoons was nearly 40 kilograms, but the purchase price has fallen from the same period last year. In the late Mid-Autumn Festival, 11,492 silkworm cocoons were distributed, 378.5 tons of silkworm cocoons were purchased, and the purchase price of cocoons was 16.5 million yuan, and the purchase price was 43.8 yuan/kg.

As the "Double Eleven", Christmas, Spring Festival and other festivals approach, the international and domestic textile and apparel markets continue to pick up. The latest data from the General Administration of Customs shows that in September 2020, textile and apparel exports were 28.37 billion US dollars, an increase of 18.2%, of which textile exports were 131.5 Billion US dollars, an increase of 35.8%, clothing exports 15.22 billion US dollars, an increase of 6.2%. In addition, this year’s cold winter is also expected to be good for this year's winter clothing sales. Winter cold-proof fabrics are out of stock, and factory orders are mostly maintained until early November. For example, the new autumn and winter fashion fabrics and casual tops fabrics in the traditional market of China Textile City increased in the market, and the sales of many varieties increased.

SunSirs analysts believe that the foreign epidemic is still severe, and some countries and regions in Europe and the United States have again adopted restrictive measures. There is still greater uncertainty in demand recovery. Textile companies also have concerns. Therefore, most companies still choose to purchase on demand and produce on order. Business strategy. At the same time, the domestic demand market in November will enter the traditional off-season, and the price of cocoon silk will also show a weak trend at the end of the month. Therefore, it is expected that the price of cocoon silk will continue to weaken in November.

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