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Dear friends

The celebrations are over in india and now it is time for serious business for raw silk .the week in India passed of steadily for raw silk with no change 's in the price of about rs 1540 .00 . It is strange to see the correction in jiaxing exchange . The indian import orders have been steady after the fair and will continue to remain so if the exchange shows positive growth . The mindset in India was prepared to accept some new highs. As the outlook till next Jan. doesn't leave room for any down trends except for small corrections . I think we can expect a period of steady business and some upward trend. Raw silk will still rule the market.

Dupion silk yarn and tussah silk yarn have witnessed no changes this week and movement in india is slow. So far , tussah yarn floating cargo is too high and may take some more time to move upwards.

Fabrics have corrected itself following the Chinese market, however the latest quotes from china are unworkable in india now, the local market need another round of correction for the new prices to be acceptable .

View:
The future weeks looks promising for raw silk and we may see new highs in2005. There is great suspense and anxiety on where it will peak ? And what will be the trend in coming weeks . The whole focus is now on the Jiaxing exchange and it is the exchange which will decide the future trend. The coming week for the exchange is very important and crucial .It may make or break the sentiments in india .

Wholesale price index : bangalore
raw silk 20/22 3/4 a - rs 1540
dupion silk yarn - normal mills - rs 1130 –1140
- top mills 1180-1200
> tussah silk yarn - rs 1415.00
> thrown silk yarn - rs 1560.00
> organzine -rs 1675.00
> fabrics
> zhejiang 12101 - rs 130.00
> 10103 - rs 132.00
> sichuan origin 12101 - rs 135.00
branded 12101 - rs 138.00
> 10103 - rs 136.00
branded 10103 - Rs 142 -145
>
>
> b rgds
>
> suresh mehta