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

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search