Home / Knowledge / News / Textiles / Pass-in rates lift sharply
Pass-in rates lift sharply
24
Jan '11
The AWEX Regional Indicators finished a further 2.1% higher, on average, at sales in Sydney, Melbourne and Fremantle this week despite a sharp correction on Thursday. The US exchange rate rose by 0.2%.

59,624 bales were on offer, compared with 49,224 bales last week. 10.7% were passed in, comprised of 6.6% in Sydney, 5.9% in Melbourne and 24.4% in Fremantle. Pass-in rates for Merino fleece and skirtings were 16.2% and 3.5%.

Pass-in rates lifted sharply from 1.1% on Tuesday and 2.2% on Wednesday to 20.9% on Thursday. Most of this increase was due to a 43.8% pass-in rate in Fremantle. Much of the wool was passed-in at very good prices, as is often the case in markets like the current one.

The US exchange rate lifted above 100¢ again on Wednesday, which financial commentators attributed to an increasing confidence in the global economy. However, it fell back to the upper 99¢ range on Thursday.

The market opened in the same manner to last week, when the Southern Region Indicator rose by 70¢ on Tuesday and the EMI was up by 90¢ on Wednesday to record levels. Rises occurred across all micron ranges and Merino wool types.

The greatest gains were once again at the fine end and the EMI moved to its highest level since the boom years of the late 1980's. The market eased its rapid rush in South Africa on Wednesday and then in Australia on Thursday when the EMI fell by 51¢. The trade reports that competition remained strong although the market had fallen.

Logic and history indicate that the market could not continue its rate of rise without some check. Nevertheless, Thursday's easing still left the closing EMI 2¢ above the 2002/03 peak of 1189¢ (when the US exchange rate was 57.73¢). The 16.5 to 19.0, 20.0 and 24.0 MPGs are all above last week's closing levels while other Merino MPGs are down slightly.

Merino skirting types followed the fleece types up on Tuesday and Wednesday and down on Thursday. Crossbreds were in strong demand also on Tuesday and Wednesday and were less affected than Merino wools on Thursday. Oddments also experienced the early week gains followed by an easing of around half a percent on Thursday.

Buyers for China were again dominant, with continued good support from buyers for Europe (particularly on the first two days) and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 54,132 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 31 and 32) are 41,500 and 46,600 bales, respectively; a decrease of 6.1% over the three sale period when compared with last year.

In South African sales, the Cape Wools Indicator was up by 8.5% since last week against a 1.0% depreciation of the Rand against the US Dollar and a 4.5% depreciation against the Euro. 13,614 bales were on offer.

Click here to view the tables

Australian Wool Industries Secretariat


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Pinkesh Jain
Everflow Petrofils Ltd

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

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

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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