Home / Knowledge / News / Textiles / Wool prices dip as result of strengthening Rand
Wool prices dip as result of strengthening Rand
27
Nov '08
Prices were down at this week's sale, mainly as a result of a stronger rand and a drop in Australian prices. As a result, Cape Wools' Merino indicator shed 4.7% to close the day at R45,33/kg (clean).

The rand started firming sharply in afternoon trade on Tuesday and by this morning was trading at below the R10 against the US dollar. By mid-morning it was trading at R9,88 against the US dollar, which was 3,2% stronger compared to last Wednesday's exchange rate. It was 0,5% stronger against the euro.

Demand from China still seemed strong with some support from Europe. A total of 10 060 bales was on offer of which 90% was cleared to the trade. Major buyers Standard Wool SA (2 893 bales); Modiano (1 606 bales); Lempriere AUS (1 398 bales); Stucken (1 281 bales), and Segard Masurel (1 228 bales).

Average price movements for AWEX types MF4 and MF5 of 70 mm and 80 mm were as follows: 19 microns dropped 5,3% to R60,18/kg; 20 microns shed 6% to R50,59/kg; 21 microns were 3,4% cheaper at R47,25/kg: 22 microns were down 3,1% to close at R45,90/kg, and 23 microns shed 1,4% to R45,10/kg. There were no quotes for 24 microns to 25 microns.

Approximately 10,500 bales will be on offer next week. The final sale before the Christmas recess has been scheduled for 10 December.

Cape Wools'

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Kevin Nelson
TissueGen

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

Mohammad Hassan
Biax Fiberfilm

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

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

Madhu Jain
Madhu Jain

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search