Home / Knowledge / News / Textiles / Wool prices beat trends to rise in second consecutive week
Wool prices beat trends to rise in second consecutive week
20
Nov '08
Prices were up for a second consecutive week on the back of strong demand from China and Cape Wools' Merino indicator gained 4,7% to close at R47,55/kg clean. This means that the indicator has over the past two weeks alone gained 11%.

China is presently very active in the market with importers scrambling to fill quotas before year-end, resulting in price increases around the world.

The local price increase occurred despite a slightly stronger rand. At R10,21, it was 0,5% stronger against the dollar compared with last Wednesday's exchange rate, but at R12,89 was unchanged against the euro.

A total of 8 997 bales was offered of which 98% was sold. Major buyers were Standard Wool SA (2,729 bales); Modiano (1,471 bales); Chargeurs Wool (1,355 bales); Lempriere AUS (1,243 bales); and Stucken (1,002 bales).

The prices of all long Merino types were up between 3% and almost 8%. Average price movements for AWEX types MF4 and MF5 of 70 mm and 80 mm were as follows: 19 microns gained 6,2% to R63,53/kg; 20 micron rose 7,7% to R53,81/kg; 21 microns were 3,2% dearer at R48,90/kg, and 22 microns were up 4,3% to close at R47,39/kg. There were no quotes for 23 microns to 25 microns.

Approximately 10,000 bales will be on offer next week.

Cape Wools'

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

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

Suresh Patel
Sidwin Fabric

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search