Raw silk prices continue to decline, consumption in the silk market is sluggish

According to the price monitoring of the trading company, since July 1, the price of raw silk (domestic commodity inspection silk) has fallen continuously. The current price is 347250 yuan/ton, which is about 0.63% lower than that of 349250 yuan/ton in early July.

Through the correlation analysis tool of the business community, we can see that the raw silk industry has maintained a weak trend since this month. At present, the domestic raw silk trading market has a light transaction, while the downstream market demand is weak, and raw silk does not have sufficient upward momentum.

As of the beginning of July, the domestic silkworm cocoon purchase stations have basically completed the purchase of spring cocoons. However, due to the weather this year, the quality of silkworm cocoons produced by logarithmic cocoons in many regions has made the price of spring cocoons lower than last year, and the price of raw silk has also fallen. On the other hand, the sales data of the domestic and foreign silk consumer markets are not satisfactory. From January to May, the cumulative exports of silk, grey silk, silk garments, silk products, and real silk commodities decreased by 15.68%, 7.22%, and 73.69% respectively year-on-year. , 60.98%, 15%, and the continuous sluggish silk consumer market failed to provide strong support for the upstream silk industry, the effective demand is insufficient, suppressing raw silk prices upward.

Raw silk prices continued to decline, consumption in the silk market was sluggish, and market transactions were dull. At present, raw silk has accumulated more stocks. Business analyst Chen Jun expects that in the next month, the price of raw silk will continue to move down or continue to fluctuate. .