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ReturnSURESH MEHTA ANALYSIS(3)--Weekly review of indian market (Till Sep 17)
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admin
PublishDate：
2005-09-18 21:22:00
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467
(Suresh mehta)
The price movement for raw silk in china is making it exciting this year, the whole week for raw silk here was steady and the sale is also steady So far. Import orders have been showing a little increase compared to Last Week and many orders were placed abt usd 24 cif prices. however the October Month looks very interesting as the first week china is closed and India Being a land of festivals has a major festival (dussehra) coming up on October 11th , the silk factories will be closed for another 7 days from oct 12th to 19th and then we have the fair from 21st , do we have the Time to Do biz ?
The coming demand in india for raw silk will be steady and stable in the coming months, however there are lot of holidays coming up again in November and December.
Tussah is still in dumps here with prices still not holding and slowly losing ground, due to low sales and surplus cargo. However next month should see the downtrend stop and gain momentum slowly, interest is being shown at the usd 24 - 25 cif levels. Maybe that is the bottom line as crops report from china now states that it is only 50 % this year for tussah .
Dupion is taking the brunt this year. The sales was slow this week with no improvement in prices here. However we could see few enquiries about new cargo but it will better to wait and watch whether the momentum will pick up or not, the difference between raw silk and dupion has been more than 4 usd consistently and now we see almost a gap of usd 5 and above , the present market here can support only prices about usd 18 cif .with lot of ready cargo also available in china it is difficult to see prices going up unless the indian exporters start buying dupion.
Interest has sparked in the fabrics again, and we can see some good buying coming up in the next few weeks mainly for 10103 and 12101.
WHOLESALE PRICE INDEX
open market -prices - bangalore - chinese yarn
date : SEP17 2005
mulberry raw silk 20/22 3/4 a
RS 1310.00
dupion silk yarn 100/120
RS: 1050.00 - NORMAL MILLS
RS 1090.00 - TOP MILLS
tussah silk yarn 33/37
RS 1330.00
thrown silk 20/22 2/3 ply s300,S330,S360
RS 1335.00
organzine 2 ply z800/s700
RS - 1460.00
NOTE : PRICE ARE IN INDIAN RUPPEES/ KG
PRICE ARE INCLUSIVE OF IMPORT DUTY BUT EXCLUSIVE OF VAT IF ANY
The price movement for raw silk in china is making it exciting this year, the whole week for raw silk here was steady and the sale is also steady So far. Import orders have been showing a little increase compared to Last Week and many orders were placed abt usd 24 cif prices. however the October Month looks very interesting as the first week china is closed and India Being a land of festivals has a major festival (dussehra) coming up on October 11th , the silk factories will be closed for another 7 days from oct 12th to 19th and then we have the fair from 21st , do we have the Time to Do biz ?
The coming demand in india for raw silk will be steady and stable in the coming months, however there are lot of holidays coming up again in November and December.
Tussah is still in dumps here with prices still not holding and slowly losing ground, due to low sales and surplus cargo. However next month should see the downtrend stop and gain momentum slowly, interest is being shown at the usd 24 - 25 cif levels. Maybe that is the bottom line as crops report from china now states that it is only 50 % this year for tussah .
Dupion is taking the brunt this year. The sales was slow this week with no improvement in prices here. However we could see few enquiries about new cargo but it will better to wait and watch whether the momentum will pick up or not, the difference between raw silk and dupion has been more than 4 usd consistently and now we see almost a gap of usd 5 and above , the present market here can support only prices about usd 18 cif .with lot of ready cargo also available in china it is difficult to see prices going up unless the indian exporters start buying dupion.
Interest has sparked in the fabrics again, and we can see some good buying coming up in the next few weeks mainly for 10103 and 12101.
WHOLESALE PRICE INDEX
open market -prices - bangalore - chinese yarn
date : SEP17 2005
mulberry raw silk 20/22 3/4 a
RS 1310.00
dupion silk yarn 100/120
RS: 1050.00 - NORMAL MILLS
RS 1090.00 - TOP MILLS
tussah silk yarn 33/37
RS 1330.00
thrown silk 20/22 2/3 ply s300,S330,S360
RS 1335.00
organzine 2 ply z800/s700
RS - 1460.00
NOTE : PRICE ARE IN INDIAN RUPPEES/ KG
PRICE ARE INCLUSIVE OF IMPORT DUTY BUT EXCLUSIVE OF VAT IF ANY
