Good News Boost The Price Of Cocoon Silk

According to the price monitoring of the business agency, the domestic raw silk market has shown a surge in the past week. As of August 21, the average price of raw silk market was 289000 yuan / ton, up 3.12% on a weekly basis. As of August 21, the average market price was 88600 yuan / ton, down 0.17% week on week.

The first batch of autumn cocoons in Xincheng silkworm District of Guangxi began to be put on the market this week, and the listing time did not change much from that of last year. The harvest and drying of autumn cocoons in Guangxi will be fully started. On August 20, we learned from some local purchasing units that the current purchase price is about 28 yuan / kg, which is lower than last year (the purchase price of the first batch of autumn cocoons in Xincheng in 2019 is about 40.5-42 yuan / kg). It is understood that the overall quality performance of the listed cocoons is general, but it is still in the initial stage of listing, the quantity of cocoons listed is still relatively small, and the quality performance and purchase price of cocoons are not representative. It is expected that the first batch of autumn cocoons in Xincheng will usher in the peak period of listing on August 22, when the quality performance and purchase price of the first batch of autumn cocoons will be clearer.

With the approaching of the traditional peak season of "gold, silver and ten", the transaction atmosphere of cocoon and silk spot market has recovered, and the domestic and foreign trade markets have certain performance. According to the news in Shengze, the trading atmosphere in the market is better than that in the early stage, and the downstream procurement presents the pattern of "small batch and multi batch". In the traditional market of China Light and Textile City, the turnover of thin fabrics continues to decline in summer, but there are many suppliers who continue to increase their proofing in autumn and winter. Foreign trade European and American home textile orders have picked up, gradually opened the situation, sales began to increase locally. However, due to the large social inventory in the market, these orders are not enough to consume the original inventory of the manufacturer, and the market inventory is in a stalemate state. At present, there are about 45-46 days of blank cloth warehouse in Shengze area.

Both the domestic and foreign trade orders of the domestic and foreign trade market have been improved, which makes the current market sentiment of the textile industry mild. In late August, the silkworm production in Guangxi began in the second half of the year. With the coming of autumn cocoons, the cost of raw materials will form a certain support for the price of silk. It is expected that in the short term, the positive news will boost the price of cocoon and silk will show an upward trend.