Home / Knowledge / News / Textiles / AWEX wool indicator down 2.5% from previous week
AWEX wool indicator down 2.5% from previous week
18
Jun '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending June 15. The Australian Wool Exchange (AWEX) Regional Indicators finished 2.5% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 0.1%.

The greater fall in the Western Market Indicator was again associated with a “catch up” following the break in sales in Fremantle last week. The ongoing global economic uncertainty associated with the Eurozone and Sunday’s elections in Greece; and its effect on confidence and demand was a major influence on the market this week. 

Indicators were down across all Merino micron ranges and types on both selling days.  The falls were larger than those of the two preceding weeks, but smaller than those seen during May. On the other hand crossbred prices hung on very well to finish the week with their average AWEX Micron Price Guides either unchanged or slightly up.  This continues the overall better price performance seen in this sector this season.

The Eastern Market Indicator (EMI) and WMI have fallen by 116¢ (-9.9%) and 96¢ (-8.6%) respectively since wool, and other commodity prices, started falling in May.  This was a result the announcement by the Greek political parties that they were unable to form a Government and the consequent negative impact on global economic certainty uncertainty.

However, the season average Eastern Market Indicator (EMI) and WMI remain above last year’s values as the end of the season is approaching.  The average Eastern Market Indicator (EMI) is still 74¢ above the same period last year, while the WMI is 112¢ above the same period last year. Pass-in rates rose in response to the greater fall in the market.

In other countries, South African sales are in recess until mid-August.  The Wool Services International coarse crossbred (36 – 39 microns) Indicator was down by 1 to 3% in New Zealand.

Among other fibres, cotton December Futures rose by 1.6% to 71.02 US ¢ per pound. 32,693 bales were on offer, compared with 27,601 bales last week (when only Sydney and Melbourne sold).  16.8% were passed in, comprised of 13.8% in Sydney, 14.2% in Melbourne and 26.5% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 19.6% and 14.8%, respectively. 27,188 bales were cleared to the trade.

The year-to-date offering is 37,941 bales less (-2.0%) than at the end of the same week last year.  This figure is expected to remain virtually unchanged over the next two weeks when the current selling season finishes.

The US exchange rate was free of large fluctuations this week; and was virtually unchanged for the week, as the good economic data seen in Australia in the last week continued to overshadow the impact of the concerns in the Eurozone.  The results of the Greek election on Sunday will be very closely watched in global economic markets.

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Marten Alkhagen
Swerea IVF AB

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Eric Scholler
Groz-Beckert

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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:
May 2017

May 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