Home / Knowledge / News / Textiles / AWEX EMI up by 17¢
AWEX EMI up by 17¢
16
Mar '09
The Australian wool market finished 1.8% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI rose by 17¢ (+2.3%), ending the week at 742¢/kg. This reflected rises of 19¢ (+2.5%) in the North and 14¢ (+2.0%) in the South, with their corresponding Regional Indicators finishing the week at 768¢ and 721¢ clean, respectively. The Western Indicator rose by 6¢ (+0.9%), finishing the week at 703¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI rose by 12¢ on Wednesday and by 5¢ on Thursday. The Western Indicator rose by 9¢ on Wednesday and fell by 3¢ on Thursday in a two day sale in Fremantle.

43,619 bales were on offer, compared with 47,621 bales last week, of which 7.0% were passed in, comprised of 3.3% in Sydney, 5.6% in Melbourne and 12.5% in Fremantle. Pass-in rates for Merino fleece and skirtings were 8.0% and 6.2%, respectively. 1,331 bales (3.0%) were withdrawn prior to sale and re-offered bales made up 12.0% of this week's offering.

The US exchange rate (source RBA) was 0.36¢ lower on Monday when compared with Thursday of last week. It was then down by a further 0.13¢ on Tuesday, up by 0.34¢ on Wednesday and by a further 0.64¢ on Thursday to close at 64.82¢, up 0.49¢ (+0.8%) since the last sale. The exchange rate against the Euro fell by 0.51 Euro cents (-1.0%) to close at 50.48 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 15¢ (+3.2%) in US terms and by 5¢ (+1.4%) in Euro terms when compared with the previous sale.

It was a very good week, with strong demand and rises across all micron ranges and types and low pass-in rates. It a pleasant turn around for the fine wools to lead the market, particularly in the North on Wednesday where the Micron Indicators for 16.5, 17.0, 17.5 and 18.0 microns were up by 71¢, 82¢, 65¢ and 80¢ respectively on the day.

It was also notable that the push for these wools was not lead by the traditional buyers for Italy. The quantity of Superfine types was restricted, leading to strong competition to fill orders. A selection of ultrafine wool attracted good prices in Melbourne on Thursday with one lot (12.7 microns) selling for 28,000¢ greasy, another for 22,000¢ greasy (13.0 microns) and another for 20,000¢ (12.6 microns).

Changes in the Average AWEX Micron Price Guides (MPGs) for Merino wools varied from +0.6% (24.0 microns) to +5.8% (17.0 microns) with the upwards movements greatest among the fine wools. Average MPGs were up by 36¢ clean for 16.5 microns, by 72¢ for 17.0 microns, by 58¢ for 17.5 microns, by 59¢ for 18.0 microns, by 33¢ for 18.5 microns, by 27¢ for 19.0 microns and by 20¢ for 19.5 microns. The 20.0 micron wool average MPG was up by 9¢ clean, 21.0 microns by 8¢, 22.0 microns by 8¢, 23.0 microns by 9¢, and 24.0 microns by 4¢.

There was strong demand for Merino skirtings on Wednesday. This was maintained on Thursday, apart from those lots with heavy amounts of VM in the South and some types in the West. Crossbred prices all moved up, with the lift in the average MPGs ranging from 1¢ to 8¢ (30 microns). The oddment market continued the upward pattern seen since the Christmas break, with the Merino Cardings average MPG picking up another 6¢.


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Nitesh Mittal

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

Mohammad Hassan
Biax Fiberfilm

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

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

Yash P. Kotak
Bombay Hemp Company

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

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search