Home / Knowledge / News / Textiles / Weaker rand supports African wool market
Weaker rand supports African wool market
09
Mar '12
A softer rand supported wool prices at this week's sale and the Cape Wools Merino indicator gained 0.6% to close at R101,79/kg (clean).

This is a 21% improvement on the same sale last season and up 10.6% on the opening level.

The rand came off its stronger levels of the past week, trading at R7.59 against the US dollar, which was 2.3% devaluation on last week's average rate. At R9,97, the rand was a marginal 0.2% down against the euro.

It was a large offering of 13 955 bales and a high sales percentage of 98% was achieved. This probably is as a result of buyers stocking up since next week's offering will be considerably smaller; while there will be no sale in the week of 19 March due to a public holiday.

Major buyers were Standard Wool SA (4 995 bales), Modiano SA (2 641 bales), Stucken & Co (2 231 bales) and Lempriere SA (1 902 bales).

Prices for long fleeces were up across the board, but the finer micron ranges performed better it this week's sale, gaining up to 3%.

The average clean price for the different categories good top-making (MF5), long fleeces were as follows: 19 microns were up 0.7% at R114,46/kg, 19,5 microns were 33% dearer at R110,97/kg, 20 microns gained by 1.8% to R108,89/kg, 20,5 microns were 2.6% dearer at R107,35/kg; 21 microns strengthened by 2.4% to close at R106,09/kg, 21,5 microns were up 0.7% at R105,23/kg and 22 microns rose by 0.8% to R103,68/kg.

Approximately 7,000 bales will be on offer at next week's sale.

Capewools


Must ReadView All

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...

Prime Minister Narendra Modi dedicating the Deendayal Hastkala Sankul to the nation, in Varanasi, Uttar Pradesh on September 22, 2017. Courtesy: PIB

Textiles | On 25th Sep 2017

Handicrafts trade facilitation centre opens in Varanasi

Prime Minister Narendra Modi dedicated the Deendayal Hastkala Sankul, ...

Apparel/Garments | On 25th Sep 2017

AAFA urges US govt to plug lacunae in military procurement

The American Apparel & Footwear Association (AAFA), an alliance of...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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