SunSirs: Chinese Textile and Slight Fall Raw Silk Market

According to the price monitoring of SunSirs, the domestic raw silk market fell slightly. On November 13, the average market price was 410000RMB/t, 0.61% lower compared with the previous trading day, 0.24% lower year on year. The market price of dry cocoon has been temporarily stable. On November 11, the average market price was 136,500RMB/t, down 2.15% year-on-year. The prices of different regions and different cocoons will be different. The autumn cocoon will gradually end, and the domestic cocoon silk market has been relatively flat.

The Indian market prices (up to November 13): the price of the hybrid cocoon was 275-460INR/kg, the price of the bivoltine cocoon was 475-800INR/kg, the price of the polyvoltine cocoon was 310-400INR/kg, the price of the bivoltine silk was 2,700-3,500INR/kg.

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

In the early winter, some downstream enterprises saw a slight increase in fabric transactions, while clothing manufacturers saw a small increase in orders for warm and thickened fabrics; in the spring, weaving enterprises will continue to maintain the start-up rate. Some orders in next spring and summer and the regular customers' orders will have been stable all the year round, and the prices of some thick silk fabrics have been raised compared with that in the earlier stage, but the overall domestic market demand is still weak, so the price support for cocoon and silk is limited.

In terms of import and export, according to the statistics of China's customs, from January to September, the total import and export volume of China's real silk goods is 1.487 billion US dollars, down 39.82% year on year, accounting for 0.67% of China's total import and export volume of textiles and clothing. Among them, the export of real silk goods is 1.316 billion US dollars, down 42.85% year on year, accounting for 0.65% of China's export value of textiles and clothing. Over the same period, the export volume of textiles and clothing decreased by 2.81% year on year. The import volume was 171 million US follars, up 1.5% year on year, accounting for 0.93% of the import volume of textiles and clothing. The import of textiles and clothing fell 6.78% year on year.

In general, both the supplier and the demander hold a cautious attitude. The silk enterprises adhere to the principle of ‘buy as you need’, while the silk reeling enterprises are reluctant to sell or sell with a small amount of goods. The market transaction is relatively weak, and the price fluctuation is narrow. For the current spot market of cocoon and silk, due to the uncertainty of the general environment and the price of cocoon and silk, it is difficult to release the purchase volume in a centralized way, and the purchase is still based on rigid demand. Analysts from Sunsirs believe that in the short term, prices will remain volatile and consolidation oriented, and follow-up attention can be paid to the performance of the Christmas season and the order receiving of clothing in next spring and summer.

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