Home / Knowledge / News / Textiles / Weak rand supports wool market
Weak rand supports wool market
22
Sep '11
The weakening rand supported the wool market at this week's sale and Cape Wools' Merino indicator gained 1.1% to close at R97,61/kg (greasy). This is 0.3% higher than the highest level last season.

With investors fleeing emerging market economies, the rand was struggling against the major currencies and fell to its lowest level against US dollar in many months. At R7,72, it was down 5.4% against the greenback compared with last week's average rates, while at R10,57, it was 5.5% weaker against the euro.

A total of 7 538 bales was offered of which 97.5% was sold. Major buyers were Modiano SA (2 069 bales), Standard Wool SA (2 008 bales, Lempriere SA (1 540 bales) and Stucken & Co (1 347 bales).

Most long fleece categories posted price increases with 19 microns posting the biggest increase.

The average clean price for the different categories good top-making (MF5), sound, long fleeces (less than 1% seed content) were as follows: 19 microns gained 1.8% to close at R119,24/kg, 19,5 microns were up 0.2% to R111,37/kg, 20 microns rose 0.9% to R106,41/kg, 20,5 microns were 0.9% dearer at R103,24/kg; 21 microns gained 1.1% to close at R101,93/kg, 21,5 microns were 1.2% dearer at R99,83/kg and 22 microns rose 1.3% to close at R97,12/kg.

Approximately 5 400 bales will be offered at next week's sale.

Capewools


Must ReadView All

Courtesy: Ministry of Trade and Industry, Singapore

Textiles | On 22nd Feb 2018

Final version of CPTPP pact released; to be signed in March

The final version of the Comprehensive and Progressive Agreement for...

Amazon India crosses 3 lakh seller base in less than 5 yrs

Apparel/Garments | On 22nd Feb 2018

Amazon India crosses 3 lakh seller base in less than 5 yrs

Amazon recently claimed to have crossed the three-lakh seller base in ...

Indian e-retail market may see 250% growth in 3 yrs: Crisil

Apparel/Garments | On 22nd Feb 2018

Indian e-retail market may see 250% growth in 3 yrs: Crisil

India’s e-retail market may rise by 250 per cent in the next three...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Johan Berlin
InvestKonsult Sweden AB

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

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

Rupa Sood and Sharan Apparao
Nayaab

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

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

February 2018

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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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