According to the analysis system of the commodity market of Shengyishe, the price of raw silk reached historic highs this week (2.24-3.1). As of March 1st, the average price of raw silk in the domestic market was 530350 yuan/ton, an increase of 12000 yuan/ton or 2.32% compared to last week’s price of 518350; The average market price of dried cocoons is 165000 yuan/ton, an increase of 2500 yuan/ton or 1.54% compared to last week’s price of 162500 yuan.

This week, the electronic raw silk index and monthly spot prices have repeatedly reached historic highs, with the raw silk index in the Chinese cocoon silk trading market rising by 1.84%. In terms of the spot market, it is understood that in recent days, the specific prices of various grades and specifications of raw silk from silk reeling enterprises have mostly increased, mostly around 5000/ton, some higher, and some factories have already made transactions, some waiting for downstream acceptance of transactions; Some silk reeling enterprises have just started production and have not yet made a quotation or transaction. High quality raw silk units have shown varying price increases, and transactions have been more active compared to last week.

On the silk floss, some silk floss enterprises in Guangxi have reported that the price of silk floss has not increased, and it is currently basically at the level at the end of last year. Many home textile companies have only started construction and have not had much trading volume, so the price increase is not visible; Some enterprises in Zhejiang have reported that they are still supplying old customers at pre year prices, while others have reported an increase in raw material supply under the current situation.

On the price of dried cocoons, after the 15th anniversary, there have been reports of high prices for dried cocoons, leading to a significant gap in psychological expectations between buyers and sellers for prices, increasing the difficulty of transactions. The number of transactions this week was relatively small, and the transaction prices were basically the same as last week. Since last winter and this spring, stimulated by the high cocoon prices, the overall sales of mulberry seedlings in Jiangsu Subei, Zhejiang Hangjiahu, and local mulberry seedling bases in Guangxi have been good. The price of grafted seedlings has increased compared to the same period last year, and new mulberry expansion momentum is good in areas with foundations.

Downstream silk and satin enterprises have engaged in price adjustments for a small number of units and varieties this week, mostly ranging from 1 to 2 yuan; Some companies can only make minor adjustments to the conventional domestic sales of goods, while others still offer prices based on previous years in hopes of closing deals. Some silk factories have reported that the price of silk has increased, but the price of silk remains stable and there is a lot of pressure; Some companies have reported that the prices of domestic products that are currently being sold are basically not increasing or slightly increasing, and some customers are very sensitive to prices as they do not take the goods even after a slight increase; A silk factory has reported that export sales are mostly small orders. On the whole, there is an uneven distribution of hot and cold sales both domestically and internationally, with uneven distribution of hot and cold among different varieties, and the performance of enterprises continues to differentiate. Some innovative and fashionable fabrics are in high demand, with prices steadily increasing. However, competition between suppliers and rising raw material costs continue to put pressure on orders.

From the wholesale markets of silk clothing in Hangzhou and other cities, it can be seen that this week is in the period of opening in fifteen years, with a good opening state, but the foot traffic is still not high. It is expected that the wholesale trend will change with the start of exhibitions in various regions after March, the rhythm of regular delivery periods, and the rise in temperature.

In the current market environment of overall oversupply, with the transparency of overall consumption degradation, there is great competition pressure in the fabric and clothing product market, and the difficulty for enterprises to synchronously raise prices is also increasing. From all aspects, the market is recovering, but there is still some time before the true peak season, and the overall direction of the market needs to be observed. The key to the subsequent market trend also depends on whether the demand of downstream customers can be boosted.