Home / Knowledge / News / Textiles / AWEX wool indicator finishes 4.3% lower last week
AWEX wool indicator finishes 4.3% lower last week
12
Nov '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sales report for week ending November 9. The Australian Wool Exchange (AWEX) Regional Indicators finished 4.3% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 0.4%.

The six week run of wool price rises that took the Eastern Market Indicator (EMI) from 940¢ to 1048¢ two weeks ago came to a sudden halt this week when the Eastern Market Indicator (EMI) came back by 41¢ in Australian currency and by 41¢ in US currency.  The sudden rise in the market had been a surprise to many in the trade; and there was uncertainty as to whether the factors driving the increase were short term or longer term.

The Eastern Market Indicator (EMI) fell by 2.2% on Wednesday.  This was followed by a greater fall in the South African Market Indicator on Wednesday night and a fall of a further 2.1% in the Eastern Market Indicator (EMI) on Thursday.

There were falls across all micron ranges and wool types on both days.  The only exceptions were among the oddments where some types were quoted as firm or unchanged.  Merino wools were more affected than crossbreds.

Sellers reacted by passing in a greater proportion of the offering, particularly on Thursday when the Pass-In rate was 28.5% in Melbourne and 36.2% in Fremantle.  Presumably, some of the passed-in wool was wool that had come onto the market in response to the recent upward movement in the market.

Despite this week’s fall, the Eastern Market Indicator (EMI) is 63¢ above where it was in mid-September.  But, the fall has increased the difference between the current market and last year’s prices.  The Eastern Market Indicator (EMI) is now 216¢ (-17.7%) less than in the same week last year and is 67¢ (-6.3%) less than at the start of the season.  The WMI is 217¢ (-17.6%) less than in the same week last year and is 63¢ (-5.9%) less than at the start of the season.

In other countries, South African sales, the Cape Wools Indicator was down by 3.9% in Rand and by 3.5% in US currency since last week.  In New Zealand, Wool Services International quoted fine crossbred fleece as “generally firm” and coarse crossbred fleece as “generally in buyers’ favour”.

Among other fibres, cotton Futures eased again during the week.  December Futures closed at 69.58 US¢ on Friday, down by 1.1% since the previous week.

48,031 bales were on offer, compared with 51,336 bales last week.  22.4% were passed in, comprised of 16.4% in Sydney, 21.6% in Melbourne and 30.9% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 27.4% and 25.4%, respectively.  37,257 bales were cleared to the trade.

The year-to-date offering is is now 40,864 bales less (-5.8%) than at the end of the same week last year, as wool has come onto the market in response to the recent increases in price.  The expected offering of 58,200 bales for the coming sale is the largest so far this season.  It may not reach that level if this week’s falls lead to an increase in the number of bales withdrawn prior to sale.


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 ...

Gujarat finance minister Nitin Patel. Courtesy: Global Gujarat News

Textiles | On 22nd Feb 2018

Rs843 cr for MSMEs, Rs35 cr for khadi in Gujarat budget

The Gujarat government has made a provision of Rs 843 crore in the...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Liz Manning

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

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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