According to the analysis system of the commodity market of the Business Society, under the influence of comprehensive factors such as the acquisition trend of Spring Cocoon, the continuation of terminal recovery, and the digestion of negative factors affecting the early stage, domestic raw silk prices have continued to rise this week (5.27-6.2). As of June 2nd, the average price of raw silk in the domestic market was 430550 yuan/ton, an increase of 0.33% compared to last week and a year-on-year increase of 10.96%; The average market price of dried cocoons remained stable at 139700 yuan/ton, a year-on-year increase of 7.46%;

This week, the spot market of raw silk continued to maintain a pattern of just in demand pickup, and prices have remained relatively stable in recent times. The transaction of high-quality raw silk is average, and the transaction price has not changed much. Some units have almost fully invested in the acquisition of cocoons.

At a time when the national trend of spring cocoon harvest and drying is clear, the purchase and sales of spring cocoons are also shifting from active intentions to actual implementation. In Guangxi region, due to the high temperatures and other weather conditions this week, although the purchase price of dried cocoons has decreased compared to the previous period, the overall cocoon quality indicates that the cost of receiving and drying cocoons for this batch of cocoons may remain unchanged or slightly higher compared to the previous period. From the perspective of some regions such as Sichuan, the direct acquisition of cocoon capital by leading enterprises, coupled with costs such as investment in the base, still results in a relatively high comprehensive conversion price. Cocoon purchases in some major production areas such as Yunnan and Jiangsu began this week and are expected to form a comprehensive acquisition situation in the near future. The price of dry cocoons this week has slightly increased compared to last week.

There has been no significant change in the prices of silk and satin for domestic and foreign sales this week, and the difference in prices compared to last week is very small. In the current climate of sluggish terminal consumption, it is difficult to sustain a recovery in actual transactions. Most buyers purchase on demand, and there are few behaviors of hoarding large amounts of inventory. If market demand can gradually start, favorable demand will support prices, and market trading activity will increase. We look forward to ushering in a new market trend.

Analysts from Business Society believe that currently, the spot market prices are relatively strong in consolidation, with insufficient downstream buying gas and overall flat production and sales data. Upstream raw material prices are steadily high, and for a certain period of time, costs can still form support. It is expected that raw silk will continue to be at a high level in the near future, with a strong consolidation path.