Home / Knowledge / News / Textiles / AWEX Merino Cardings Price Guide drop sharply
AWEX Merino Cardings Price Guide drop sharply
21
May '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending May 18. The Australian Wool Exchange (AWEX) Regional Indicators finished 2.7% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 1.5%.

This week's market was under considerable pressure due to the further weakening of global financial confidence that began last week; and was followed this week with the news that none of the political parties in Greece has been able to form a Government (see below). This comes on top of already soft demand.

The major part of this week's falls occurred on Wednesday when the Eastern Market Indicator (EMI) came back by 24¢ in Australian currency and by 46¢ in US currency. The WMI fell by 25 A¢ on Wednesday.

The Eastern Market Indicator (EMI) in US currency has fallen by 90¢ (7.5%) over the last two sales. But, this has been partly cushioned in Australian terms by the falling exchange rate. The fall in the Eastern Market Indicator (EMI) in Australian currency over the same period was 49¢ (4.2%).

The finer Merino types, which are down by 30 to 35% from the same week last year, were again more affected than the medium and broader types. The medium and broader wools were in limited supply when compared with the finer types. Crossbreds held on well in Australian currency, particularly at the fine end. As might be expected the better wools attracted stronger competition than the poorer types.

The national pass-in rate of 23.2% was the highest for the season; as was the 41.3% pass-in rate in Fremantle on Wednesday.

In other countries, sales were in recess in South Africa. The Wool Services International fine crossbred (33 - 35 microns) and coarse crossbred (36 – 39 microns) Indicators were up by 3.5% in New Zealand.

Among other fibres, July futures for cotton were down by 1.2% from last week to close at 77.99 US¢ on Friday.

39,578 bales were on offer, compared with 33,168 bales last week. 23.2% were passed in, comprised of 21.9% in Sydney, 17.0% in Melbourne and 41.3% in Fremantle. Pass-in rates for Merino fleece and skirtings were 25.6% and 32.3%, respectively. 30,406 bales were cleared to the trade.

The year-to-date offering is 55,169 bales less (-3.1%) than at the end of the same week last year (see table on the next page). This figure is expected to improve slightly over the next three sales due to the forecast offerings being above those of last year.

The inability of the political parties in Greece to form a Government has been the major factor affecting exchange rates this week. As said last week, the associated fall in global economic confidence has led to the familiar scene of falls on global stock markets, in commodity prices; and in the transfer of investor funds from Australia to the “safe havens” of US Treasury bonds, the Swiss Franc and the Yen. The transfer of funds from Australia results in a lower Australian exchange rate with the United States.


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

From left: Tania Polonnowita Wettimuny, MD, Hellmann Sri Lanka; Bart de Vries, Global COO Air & Sea Hellmann; Deshamanya Mahesh Amalean, Chairman, MAS Holdings; & Shirendra Lawrence, COO, MAS Holdings

Textiles | On 20th Feb 2018

Hellmann and MAS form joint venture HMSC

Hellmann Worldwide Logistics and MAS Holdings have formed Hellmann...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

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

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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