Beginning of the year, China's Silk market prices rise slowly, running basically stable, but it has been entered in October by the U.S. subprime mortgage crisis, triggered by deepening global financial crisis, the domestic cocoon prices decline, while domestic demand silk reduced exports dropped significantly.
Cocoon prices drop
According to the Ministry of Commerce silk system monitoring, 10 months, the average price of the domestic market Ganjian 46.41 yuan per kilogram, compared with 11.0% decline in September, down 4.5% from a year earlier. Into the second half, Ganjian monthly prices fell in October from the previous month to improve the chain fell nearly 11 percentage points.
In October the prices of domestic plants a larger decline in silk, in which 3A (product level) the average price of silk factory 176.36 thousand yuan per ton, compared with 6.6% decline in September over a year fell chicago cubs #16 blue jersey 2.4%; 5A plant silk 190.76 thousand
Ten days from 10 the month of the circumstances, Ganjian decline has narrowed, while the factory wire decreases gradually expanded. According to the Ministry of Commerce to monitor, in late October, Ganjian prices fell more than the mid-ring reduction of more than 3 percentage points less than the first half of more than 6 percentage points; 3A factory wire decreases compared with mid-by nearly chicago cubs #16 blue jersey three percentage points, compared with early increase of 3 percentage points; 5A factory wire decreases compared with mid-slightly higher than the early more than 1 percentage point increase.
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