According to the price monitoring of the business community, this week (11.7-11.11), the raw silk index of the China Cocoon Silk Trading Market fell, and the prices of various far and near contracts on the disk fell, with average trading volume; The price of low-grade raw silk in the cocoon silk spot market fluctuates according to the monthly spot price, while the price of high-grade raw silk decreases slightly as a whole. As of November 11, the average price of dried cocoons in the spot market was 146000 yuan/ton, unchanged from last week, down 1.35% year on year; The average price of raw silk on the 20/22 spot market was 43500.00 yuan/ton, down 0.06% from last week and 1.33% year on year.

This week, on the spot of cocoon silk, raw silk continued to be traded just as needed, and the price did not change much. The price of middle and low grade raw silk fluctuated according to the monthly spot price, and the price of high-grade raw silk decreased slightly as a whole. The transaction was still difficult, and the overall transaction atmosphere was weak. On the whole, the overall pressure is still high due to the sluggish downstream demand, some capital pressure in the fourth quarter and the short time between New Year’s Day and Spring Festival. At the same time, supported by the cocoon, the factory still has strong willingness and motivation to support the price.

In terms of cocoon acquisition, the sixth batch (the fifth successive batch) of autumn cocoons in Yizhou, Guangxi continued to be listed in a small amount. In the middle of November, this batch is less. The purchase price is usually around 56 yuan per kilogram. A small number of autumn cocoons have been listed in some regions of Guangdong and Guangxi, and some have ended listing. A small number of late autumn cocoons are also on the market in some regions this month.

On the downstream side, the Double 11 orders have entered the closing stage one after another, and the demand has weakened seasonally. Recently, the orders in the entire textile market are relatively bleak, the price of raw materials is unstable, and customers are more cautious in placing orders. At present, the weaving mills are mostly signing for early orders and fixed customers, and the new orders in the future market are slightly weak. Recently, the epidemic situation in Guangzhou is relatively serious, and the medium and large markets may not be unsealed in the short term. Some of the distributors issued notices to go home early for the New Year, which has impacted domestic demand ▪ It’s a big hit. Panyu has recently closed the village for three days. At the same time, due to the bearish outlook on the trend of raw materials in the later period, the operating rate of downstream weaving also showed a downward trend, from the high point of 74% in the earlier period to 66%, a decline of 8 percentage points. Some knitting plants in Jiaxing were at a semi standstill, and the operating rate of Zhangcha was seriously insufficient, about 20%. Judging from the current decline in weaving orders, the downstream weaving is a risk aversion, and the start-up will continue to decline after fear.

Analysts from the business community believe that under the background of weak demand side, the inventory of downstream manufacturers remains relatively high, which cannot be alleviated in the short term. The demand for front-end raw silk materials will not be released immediately, and the upward pressure on market prices is large. However, the upstream cocoon cost and labor cost support still have many uncertain factors in the future market, and the downward pressure is also large. It is expected that the probability of short-term price maintenance is relatively high.