Cocoon Silk Prices Continue To Fall, Indicating Weak Demand.

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The weave of the net tells you that cocoon silk continues to fall, and demand is weak.

On the 22 day, the cocoon silk market in Guangxi experienced a sharp decline yesterday. The trend of cocoon and raw silk continued to fall.

At present, the situation of excess supply of cocoon silk has not been alleviated as a whole. The upstream has been continuously injected with raw materials, and the downstream demand has not kept up. The demand for cocoon silk in the short term is unlikely to increase substantially.

22 Guangxi Market

Continuation of the cold trading situation in the past, the whole fell.

Dry cocoon 14102 fell 1000 yuan to close 100 thousand, 15033 down 200 yuan to 106 thousand and 300, raw silk 15033 down 1300 yuan to 323 thousand and 300, turnover 118 batches, 15093 dropped by 118 yuan.

The lack of attention on the plate, the boring business and the small volume of turnover resulted in a total turnover of 6 batches of dry cocoons today, 24 orders for total orders, and 144 batches of raw silk and 676 orders for total orders.

From the point of view of output, the autumn cocoons of Guangxi basically kept balance this year, and the rate of reduction was not large. However, the demand side was a big drop because of the downward pressure on the domestic economy.

In the short term, the lack of enough rebound power will continue the weak running pattern.

Domestic goods

The general decline of varieties is closely related to the trend of domestic industrial economy.

Affected by the general slowdown in recent economic data, domestic demand for commodities has also slowed down significantly.

Since the sharp drop in the total amount of new loans and financing in July, the market has begun to pay close attention to China's monetary data, while another round of weak credit data in August indicates that demand is weak and banks will be more cautious lending when credit risk rises and bad loans increase. This will further deepen the market's concerns about the downside risks of economic growth in the second half of the year, and it is expected that data on economic activity will generally show a slowdown trend.