Home / Knowledge / News / Textiles / Aussie wool market closes on positive note last week
Aussie wool market closes on positive note last week
03
Dec '12
The AWEX Regional Indicators finished 1.5% higher, on average, at sales in Sydney, Melbourne and Fremantle this week. The US exchange rate rose by 0.8%, taking the increase in US currency to 2.4%.It was another good market this week, that began with a solid start against a rising US exchange rate in Melbourne on Tuesday.  

Micron Price Guides were largely unchanged up to 21 microns and slightly down among the medium and broad Merino wools.  Wednesday’s sale was more mixed, with an easing at the fine end (more so in the North), and gains in other micron ranges In Sydney and Melbourne.  The gains were greatest later in the day in the one day sale in Fremantle.  19.0 and 19.5 MPGs were up by 25¢ and 34¢, respectively from the previous week. 20 to 22 MPGs up by 14¢ to 19¢.
 
The strong finish in Fremantle on Wednesday flowed onto Sydney and Melbourne on Thursday, when there were good rises across all micron ranges and wool types.  The greatest percentages gains were from 19 to 22 MPGs which lifted by just under 2% in the North and by around 1% in the South.  Trade reports say that the market closed very strongly, with the closing prices at the highest levels for the day.  The strong finish to the week was driven by inquiry from China.
 
The greatest gains over the week were from 19.0 to 22 microns.The lift in the market has taken the EMI to 159¢ (-13.3%) less than in the same week last year and 36¢ (-3.4%) less than at the start of the season.  The WMI is 174¢ (-14.3%) less than in the same week last year and is 32¢ (-3%) less than at the start of the season.
 
In other countries, the Cape Wools Indicator was down by 0.3%, but up by 0.4% in US currency, since last week.  In New Zealand, Wool Services International quoted fine crossbred as “generally firm” and coarse crossbred fleece as “firm to 2% dearer”.
 
Among other fibres, cotton Futures rose during the week after last week’s falls.  March Futures closed at 73.91 US¢ on Friday, up by 3.5% since the previous week.
 
49,150 bales were on offer, compared with 46,503 bales last week.  5.5% were passed in, comprised of 6.0% in Sydney, 4.1% in Melbourne and 9.2% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 5.8% and 3.5%, respectively.
 
46,429 bales were cleared to the trade.The difference between this year’s offering narrowed again this week.  The difference is now -25,758 bales (-3.1%).  It is expected to move to around -2.5% at the close of selling prior to the Christmas break.The New Zealand Merino Company also offered 3,071 bales in Melbourne on Tuesday of which 42.7% were passed in.
 
 


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Eric Scholler
Groz-Beckert

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Rupa Sood and Sharan Apparao
Nayaab

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

Leave your Comments


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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