Home / Knowledge / News / Textiles / Prices for crossbred wools eased
Prices for crossbred wools eased
11
Apr '11
The AWEX Regional Indicators finished 0.9% lower, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate rose by 1.3%.

The season average of 1067¢ for the AWEX EMI is now 200¢ (23.0%) above the average to the same time last year.

48,406 bales were on offer, compared with 47,905 bales last week. 11.5% were passed in, comprised of 7.4% in Sydney, 10.0% in Melbourne and 18.7% in Fremantle. The Pass-in rate doubled to 16.7% on Thursday when the Regional Market Indicators eased by 11 to 13¢. Pass-in rates for Merino fleece and skirtings were 10.7% and 15.6%, respectively. 42,830 bales were cleared to the trade.

The Australian dollar strengthened further this week, passing through 104¢ on Thursday and 105¢ on Friday. Financial commentators expect it to rise further, with some are tipping a figure of 110¢, or higher, by the end of the year, unless there is some unforseen global financial downturn. This week's rise was attributed to the generally favourable economic reports from Australia, in particular the news of strong employment and job creation data on Thursday.

The week started in a steady manner with the EMI up by 3¢ on Wednesday night, but eased on Thursday. As was the case last week, the appreciation of the US exchange rate led to an increase in the EMI in US terms (+10¢). The fine wools picked up nicely on Tuesday, but gave back the gains on Thursday. 20 to 22 micron wools were the best performers for the week.

The market in the East is being influenced by the quality of the offering, as the effects of the season and the amount of wet weather are contributing to greater amounts of colour, VM and cottedness. The average VM in AWTA's test results for March were 5.2% for Skirtings and 3.2% for Cardings, both 0.4% high than in March last year

The closing EMI is up by 344¢ (33.4%) since the start of January and by 493¢ (55.9%) since the start of the season. The EMI in US currency (1439¢) is up by 86.0% since the start of the season due to the 19.3% appreciation in the US exchange rate.

Demand for skirtings was generally good, with the better types in favour, but limited buyer interest in the poor quality lower lines present in the East. Prices for crossbred wools eased and were more affected than the Merino types. Nevertheless, these wools remain at high price levels. Oddments had a good week.

Buyers for China were dominant, with strong demand from buyers for Europe and India.

Sales will be held in Sydney, Melbourne and Fremantle next week, when 41,663 bales are currently rostered for sale. The present estimate for the following sale (Week 42) is 42,900 bales. Sales will be in recess for the Easter break in Week 43 and will resume in Week 44.

Sales are in recess in South Africa until 13 April.

Click here for more details

Australian Wool Industries Secretariat

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Suresh Patel
Sidwin Fabric

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

Steve Cole
Xerium Technologies

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

Karan Arora
Karan Arora

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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
January 2017

January 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