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ReturnSURESH MEHTA ANALYSIS(10)--Weekly review of indian market (Till Nov 19)
Author：
admin
PublishDate：
2005-11-22 16:03:00
Hit：
526
Dear friends
Raw silk
The suspension of the electronic transaction on the jiaxing
Exchange has closed the window for indian importers to view the price
movements and rumors are abound . There is real tension now whether the chinese
Silk prices will crash ? In an instance the mood has changed into fear mode
and the uncertainty of future price movement of raw silk coupled with arrivals
of low priced cargo in india has depressed the prices in india the whole week was like a yoyo for raw silk with prices moving crazily and finally settling for rs 1500 locally. This kind of price movement has
effected the sales volumes also.
The whole year for raw silk has witnessed an upward trend and now the
general feeling in india is raw silk has reached its peak and may start declining now. But will it really decline now ? If the indian market remains depressed then industry leaders are predicting that chinese
Market has to follow the downtrend. Or will it be vice versa ? Throughout the
year the indian market has followed the chinese market and can it change
Now ?
I think it will be a test of patience on both sides and the one who has more patience will rule .
With orders to a minimum from india for raw silk we have to see the trend of quotes from chinese exporters. If the quotes gradually go down Then we have a price crash in hand in india, however if it remains stable the sooner or later the indian market has to follow it. Ultimately the lower priced cargo in india may last for another two three weeks and it will be really interesting to see which side rules this round of price movements Chinese or indians ?
Dupion
Dupion has become more or less steady now and there is normal movement in the local market and it will tend to remain steady in the coming weeks.however the orders for dupion from the trading community is almost nil as the present quotes for dupion normal mill is beyond their workability. If normal mills come in the rangeof usd 20-20.50 then we can see another round of orders from india.
Tussah
Finally the upward movement has initiated in india and with strong quotes from china the market will tend to follow as there has been a gap of almost a month in india for imports of tussah. There has been literally very little import done during the month of october and this may disturb the supply demand chain in india creating a rush for new imports of tussah silk> yarn. Added to this the view from china that there is a real shortage of tussah and the existing prices shooting up , we may witness a new high in the tussah silk yarn prices very shortly.
Fabrics
12101 enquiries are shooting up and initial orders also have been placed even though after hard round of negotiations - there still exists a gap of abt 10 cents between the buyers and sellers and this may narrow
In the coming weeks leading to good import orders. The other fabrics are also stable and steady so far.
WHOLESALE PRICE INDEX :
BANGALORE OPEN MARKET
> > >
RAW SILK YARN - RS 1500.00
> > >
DUPION SILK YARN - RS 1150 NORMAL MILLS - RS 1180 TOP MILLS
> > >
TUSSAH SILK YARN - RS 1425.00 - NO SELLERS
> > >
FABRICS
> > >
12101 - SICHUAN ORIGIN - RS 138 - 10103 RS 140-143
10101 - ZHEJIANG ORIGIN - RS 90 -10103 - RS 134.00
Raw silk
The suspension of the electronic transaction on the jiaxing
Exchange has closed the window for indian importers to view the price
movements and rumors are abound . There is real tension now whether the chinese
Silk prices will crash ? In an instance the mood has changed into fear mode
and the uncertainty of future price movement of raw silk coupled with arrivals
of low priced cargo in india has depressed the prices in india the whole week was like a yoyo for raw silk with prices moving crazily and finally settling for rs 1500 locally. This kind of price movement has
effected the sales volumes also.
The whole year for raw silk has witnessed an upward trend and now the
general feeling in india is raw silk has reached its peak and may start declining now. But will it really decline now ? If the indian market remains depressed then industry leaders are predicting that chinese
Market has to follow the downtrend. Or will it be vice versa ? Throughout the
year the indian market has followed the chinese market and can it change
Now ?
I think it will be a test of patience on both sides and the one who has more patience will rule .
With orders to a minimum from india for raw silk we have to see the trend of quotes from chinese exporters. If the quotes gradually go down Then we have a price crash in hand in india, however if it remains stable the sooner or later the indian market has to follow it. Ultimately the lower priced cargo in india may last for another two three weeks and it will be really interesting to see which side rules this round of price movements Chinese or indians ?
Dupion
Dupion has become more or less steady now and there is normal movement in the local market and it will tend to remain steady in the coming weeks.however the orders for dupion from the trading community is almost nil as the present quotes for dupion normal mill is beyond their workability. If normal mills come in the rangeof usd 20-20.50 then we can see another round of orders from india.
Tussah
Finally the upward movement has initiated in india and with strong quotes from china the market will tend to follow as there has been a gap of almost a month in india for imports of tussah. There has been literally very little import done during the month of october and this may disturb the supply demand chain in india creating a rush for new imports of tussah silk> yarn. Added to this the view from china that there is a real shortage of tussah and the existing prices shooting up , we may witness a new high in the tussah silk yarn prices very shortly.
Fabrics
12101 enquiries are shooting up and initial orders also have been placed even though after hard round of negotiations - there still exists a gap of abt 10 cents between the buyers and sellers and this may narrow
In the coming weeks leading to good import orders. The other fabrics are also stable and steady so far.
WHOLESALE PRICE INDEX :
BANGALORE OPEN MARKET
> > >
RAW SILK YARN - RS 1500.00
> > >
DUPION SILK YARN - RS 1150 NORMAL MILLS - RS 1180 TOP MILLS
> > >
TUSSAH SILK YARN - RS 1425.00 - NO SELLERS
> > >
FABRICS
> > >
12101 - SICHUAN ORIGIN - RS 138 - 10103 RS 140-143
10101 - ZHEJIANG ORIGIN - RS 90 -10103 - RS 134.00
