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ReturnSURESH MEHTA ANALYSIS(19)--Review on silk market(Dated on Mar.23,2006)
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admin
PublishDate：
2006-03-24 11:33:00
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552
Dear friends
RAW SILK: SUDDEN DEATH ?rmb 230?rmb240 ?rmb250 ?
Raw silk never ceases to amaze! Baffling every one continuously and
defying expectations. The Downward corrections in the future market are good for the industry however it will be still better if it reaches about rmb 230 -240 levels. that will complete the correction in total and will open the Indian buying freely .Chinese yarn in India is selling at about rmb 225 levels inclusive of the import duty of 31% .
It is better if the corrections happen immediately to shorten the
waiting period and to initiate the buying decisions faster. It all depends on the future exchanges which are followed closely by Indian buyers.
If the Chinese prices still remain higher then the chance of business
happening during the next two months will be very little and negligible.
The Statistics With upcoming holidays for the silk factories in India on March 30th (ugadi) the demand in India is at its lowest now .the silk factories will remain closed for about seven days from March 30th. So early April will also remain weak. Indian local yarn crop is also down with good inflow of yarn and supply is more than demand at present. India require about 3500 bales of raw silk for the next two months and that quantity is present locally with no need for buyers to buy till may end which will coincide with the arrival of crops in china and expected to be weak in china during that time . The period of waiting may be longer unless china reduces and stabilizes immediately in the interest of the industry. Let us hope sense prevails
Dupion
Dupion more or less remains stable during all these trends and will
continue to do. It may largely remain unaffected even if raw silk goes down except for the sentimental downside .the demand for Dupion in India is expected to remain steady round the year and after some correction with raw silk will remain stable .the same scene applies for tussah silk yarn
Bangalore open market prices: wholesale
Chinese yarns
Raw silk 20/22 - RS 1600 .00
Dupion silk Yarn Rs 1300 .00
Tussah silk yarn 33/37 - Rs 1500.00
B RGDS
SURESH MEHTA
RAW SILK: SUDDEN DEATH ?rmb 230?rmb240 ?rmb250 ?
Raw silk never ceases to amaze! Baffling every one continuously and
defying expectations. The Downward corrections in the future market are good for the industry however it will be still better if it reaches about rmb 230 -240 levels. that will complete the correction in total and will open the Indian buying freely .Chinese yarn in India is selling at about rmb 225 levels inclusive of the import duty of 31% .
It is better if the corrections happen immediately to shorten the
waiting period and to initiate the buying decisions faster. It all depends on the future exchanges which are followed closely by Indian buyers.
If the Chinese prices still remain higher then the chance of business
happening during the next two months will be very little and negligible.
The Statistics With upcoming holidays for the silk factories in India on March 30th (ugadi) the demand in India is at its lowest now .the silk factories will remain closed for about seven days from March 30th. So early April will also remain weak. Indian local yarn crop is also down with good inflow of yarn and supply is more than demand at present. India require about 3500 bales of raw silk for the next two months and that quantity is present locally with no need for buyers to buy till may end which will coincide with the arrival of crops in china and expected to be weak in china during that time . The period of waiting may be longer unless china reduces and stabilizes immediately in the interest of the industry. Let us hope sense prevails
Dupion
Dupion more or less remains stable during all these trends and will
continue to do. It may largely remain unaffected even if raw silk goes down except for the sentimental downside .the demand for Dupion in India is expected to remain steady round the year and after some correction with raw silk will remain stable .the same scene applies for tussah silk yarn
Bangalore open market prices: wholesale
Chinese yarns
Raw silk 20/22 - RS 1600 .00
Dupion silk Yarn Rs 1300 .00
Tussah silk yarn 33/37 - Rs 1500.00
B RGDS
SURESH MEHTA
