Price trend

According to the price monitoring of SunSirs, in March, the domestic cocoon silk market adjusted to fall slightly and. As of March 23, the average price of the dried cocoon market was 144,000 RMB/ton, down 0.69% from the beginning of the month and up 23.61% year-on-year. The average market price of raw silk was 443,500 RMB/ton, down 1.58% from the beginning of the month and up 23.54% year-on-year.

Analysis review

Recently, Guangdong Spring Cocoon has begun to be listed in small quantities. With the listing of Guangdong Spring Cocoon, the national silkworm cocoon harvesting and drying work will officially kick off. The Guangxi region has also gradually entered the stage of silkworm seeding and breeding, and it is expected that the harvesting and baking period will also begin in late April.

In late March, there is still no sign of a peak season in the market. The peak season of "Golden March" is not prosperous, and textile companies are not optimistic about the peak season of "Silver April". Downstream end customers follow up cautiously and purchase on demand. The demand in the consumer market has recovered slowly, the atmosphere of light transactions has not changed significantly, the fundamentals are still sluggish, and the overall procurement of raw materials is limited.

Market outlook

Analysts of SunSirs believe that the downstream consumer market is sluggish and has no improvement, the industry confidence is still insufficient, and weak demand suppresses the price increase of cocoon silk. It is expected that in the early stage of the new cocoon listing, the cocoon silk market will remain weak for the time being.

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