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 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

July 2017

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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X