Home / Knowledge / News / Textiles / AWEX Eastern market indicator increases 8.8%
AWEX Eastern market indicator increases 8.8%
26
Jun '17
AWEX Eastern Market Indicator (EMI) has increased 27ac/clean kg or 1.8 per cent for the week ended on June 22, 2017 to bring the closing level to 1533ac/clean kg. When measured in US dollar terms, EMI rose to 1159usc/clean kg. Gains were achieved in both Australian and US dollar terms with the market almost 20 per cent higher than 12 months ago.

Wool auctions in Australia continued to advance price levels strongly. The Merino sector wools were once again the most sought after with good gains of 1.5 to 2 per cent being commonplace, the Australian Wool Innovation said in its wool market report dated June 23, 2017 for the 51st week. Crossbreds and cardings were not neglected by any means, as those wools placed a further 5 to 15ac upon their previous values.

The weakening Australian dollar (AUD) against the US dollar (USD) was also a positive influence as rates went 0.8 per cent in favour of over-seas buyers, said the report. Contrary to the rising market levels and favourable currency, buyers and exporters reported a widespread lack of fresh business being achieved. The purchasing at auction was therefore being dominated by those buyers looking to close out any out-standing forward positions.

The indent buying orders from China were initially aggressive on Merino fleece, but on the final day, particularly in Melbourne, the orders seemed to dry up almost instantaneously. This pull back put a shudder through the auction room, and towards the close, most buyers were reporting a market at 15 to 20 lower on the last sections of the sale day. Sydney was far stronger throughout on this final day and closed at levels 15 to 20 higher but that market had traded at least 15-20 cents below Melbourne on the first day of trade, so market alignment was more of the story arising from the opposing market results. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search