Basic lack of highlights, silk price is under the pressure

According to the price monitoring of the business agency, the domestic raw silk market showed a slight downward trend this week. As of November 27, the average market price was 305000 yuan / ton, with a weekly decrease of 0.25%, and a year-on-year decrease of 23.17%; the price of dried cocoon market was temporarily stable this week, with an average market price of 92000 yuan / ton as of November 27, a year-on-year decrease of 30.04%.


From the upstream cost to the downstream demand, the early market slightly recovered, and the price fluctuated slightly. In the current climate of sluggish terminal consumption, the textile raw material market, including cocoon silk, is in a dilemma. Recently, the whole textile market has been cooling down. On the one hand, the textile industry at this time of year will appear seasonal weakness, on the other hand, the early “double 11″ stock up has overdraft on the later demand. According to China Light and textile city news, the current downstream fabric trade began to reduce orders, stop the situation, textile market orders are basically reduced, most of the affected orders are foreign trade orders.


Business agency analysts believe that, on the whole, the industry chain of cocoon and silk industry lacks bright spots, and it is difficult for the price to rise by a large margin if only relying on the front-end cocoon cost support, and the price rise power foundation is not solid. The actual transaction is difficult to sustain the recovery, the current flat fundamentals can not give a strong boost to the market, the cocoon silk market is expected to show a small fluctuation trend.