Home / Knowledge / News / Textiles / AWEX wool indicator closes 2.7% higher last week
AWEX wool indicator closes 2.7% higher last week
13
May '13
The AWEX Regional Indicators finished 2.7% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 0.1%.

It was a much stronger market in a small sale this week.  There were good rises across all Merino types and micron ranges on both days, with the best gains from 18.5 to 21.0 microns.  Crossbred types also made gains, but not to the same extent as the Merino types.  It was the biggest rise in the EMI since the first week of February, when it rose by 39¢.

The rise comes on top of news of business being done with China earlier in the week.  But, given the recent volatility there is still considerable uncertainty about the market.

The offering was one of the smallest for the season.  Offerings over the next three sales are also expected to be under 40,000 bales; and less than in the same weeks last year in two of the three sales.  This ends a run of six months when this this year’s offerings were consistently above those in the same weeks last year.

The US exchange rate had a volatile this week following the Reserve Bank’s decision to lower the official cash rate by 0.25% to 2.75% on Tuesday, with hints of more cuts to come.  2.75% is the lowest level set by the RBA since its creation in 1960. 

Financial analysts have speculated about whether the RBA is trying to achieve a lower value for the Australian Dollar and the chances of achieving this.  Most seemed to think that the chances are slim, given that a number of Central Banks in much larger economies are trying to achieve the same result for their currency.

In South African sales, the Cape Wools Indicator was down by 3.5% since last sale, against a 1.5% appreciation of the Rand against the US Dollar and a 0.7% appreciation against the Euro.  There is a “catch up” component to this, as South Africa did not sell last week when the market fell sharply.

Skirtings also had a good week, following the fleece type wools up on both days.  Crossbred wools recorded gains, but not of the same magnitude as the Merino wools.  It was also a good week for the oddments.

In New Zealand, Wool Services International quoted “fine” crossbred wool (35 microns) as 3 to 8% dearer, depending on length

Buyers for China were dominant, with support from buyers for India and from Europe, who made a return to the market this week.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 37,603 bales are currently rostered for sale.  Present estimates for the following two sales (Weeks 47 and 48) are 37,850 and 37,450 bales, respectively; an increase of 0.6% over the three sale period when compared with last year.

Australian Wool Industries Secretariat Inc


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

Textiles | On 19th Feb 2018

Hyosung to invest Rs 3,000 cr in Maharashtra spandex unit

The largest global spandex producer Hyosung Corporation of South...

Courtesy: VF Corporation

Apparel/Garments | On 19th Feb 2018

VF Corp Q4 revenue climbs 20% to $3.6 billion

The revenue of VF Corporation, a global leader in branded lifestyle...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

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