Home / Knowledge / News / Textiles / Wool prices soften in African market
Wool prices soften in African market
10
May '12
Wool prices softened at this week's sale as the volume of orders from China and Europe are tapering off and Cape Wools' Merino indicator shed 1% compared with the previous sale a fortnight ago to close at R98.11/kg (clean).

Competition decreased as a result of decreased demand in China's export markets, while China's domestic demand is slightly weaker.

Demand for long quality fleeces remained relatively firm but prices were down on the previous week.

The rand weakened as investors are fleeing to safety in the US dollar and had depreciated by 2.2% against the greenback compared with the average rate at the previous sale, trading at R7.89, while it was a marginal 0.4% down against the euro at R10,23.

This week's offering comprised 7 715 bales of which 96% was cleared. Major buyers were Standard Wool SA (2 343 bales), Lempriere SA (2 104 bales), Modiano SA (1 028 bales) and Stucken & Co (1 026 bales).

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were 1% down at R112.96/kg, 18.5 microns dropped 1.1% to R112,58/kg, 19 microns were 2.5% cheaper at R110.93/kg, 19,5 microns were down a marginal 0.2% to R108.59/kg, 20 microns shed 1.6% to close at R105.30/kg, 20.5 microns were down 0,8% at R104.82/kg, 21 microns dropped 1.8% to close at R102.87/kg and 21.5 microns were a slight 0.2% dearer at R103.21/kg. There were no quotes for 22 microns.

No sale has been scheduled for next week. Sales will resume on 23 May, the penultimate sale, when approximately 6 000 bales will be offered.

Cape Wools


Must ReadView All

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Alessandro Zucchi; Courtesy: ACIMIT

Textiles | On 29th Jun 2017

Alessandro Zucchi succeeds Carabelli as ACIMIT president

The members’ assembly of the Association of Italian Machinery...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Luke Otten
Wigwam Mills Inc

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

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Johan Berlin
InvestKonsult Sweden AB

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

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

Rupa Sood and Sharan Apparao
Nayaab

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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