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

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

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

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Johan Berlin
InvestKonsult Sweden AB

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

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

Silvia Venturini Fendi
Fendi s.r.l

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

Karan Arora
Karan Arora

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

Rupa Sood and Sharan Apparao
Nayaab

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

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