Home / Knowledge / News / Textiles / EMI in US currency remains high
EMI in US currency remains high
May '11
The AWEX Regional Indicators finished 1.3% higher, on average, at sales in Sydney, Melbourne and Fremantle this week when the US exchange rate fell by 1.2%.

The season average for the AWEX EMI (1094¢) continues to rise and is now 225¢ (25.9%) above the average to the same time last year.

In a smaller sale, 37,518 bales were on offer, compared with 47,680 bales last week. 10.5% were passed in, comprised of 8.8% in Sydney, 12.7% in Melbourne and 4.7% in Fremantle. Pass-in rates for Merino fleece and skirtings were 9.1% and 13.9%, respectively.

33,577 bales were cleared to the trade.

The sensitivity of the US exchange rate to a variety of factors was apparent this week when it moved up on Wednesday after the release of the Budget and inflation data from China. A very adverse reaction on Thursday was attributed to unexpectedly low employment data for April when there was a net fall of 22,000 in the number of employed people instead of an expected positive figure of around 17,000 to 18,000.

The week started well when the EMI followed the previous Thursday's 12¢ rise with a further 8¢ gain, the Western Market Indicator rose by 16¢ and there was an easing in the pass-in rates. The bigger lift in the Western Market Indicator reflected the greater gains made in the 18.5 to 22 microns wools across all centres and the dominant share of the offering which this micron range has in the West.

Members of trade report very good demand for the better wools with lower levels of VM. AWTA test data for April shows that average VM results continue to above those of last year, particularly in the North.

Two lots of 1PP wools of 12.0 and 12.1 microns sold for 20,000 greasy in Melbourne on Wednesday.

The influence of the US exchange rate varied between selling days. The exchange rate and the EMI in US terms were both up on Wednesday, whereas both were down on Thursday. Still, it was a good close to the week in global terms with the EMI virtually unchanged in US currency (+2¢).

The EMI in US currency (1405¢) remains high and is up by 81.6% since the start of the season compared with 50.0% in Australian currency.

It was a good week for the better type skirtings with good demand and good price rises on Wednesday that were held onto on Thursday. The poorer quality types continue to receive significant discounts. The pass-in rate for skirtings, although still higher than for fleece types moved closer to the value for fleece types than seen in recent weeks.

Crossbreds posted small gains in a much better performance than in the previous week (when their average MPGs had gone back by 3 to 6%). It was a poorer week for oddments, particularly in the South, with the National average AWEX Merino Cardings Indicator being the only Indicator to go back this week.

Buyers for China were dominant with other buying support from India, Korea, Europe and Taiwan.

Sales will beheld in Sydney, Melbourne and Fremantle next week, when 40,356 bales are currently rostered for sale. Present estimates for the following two sales (Weeks 47 and 48) are 34,240 and 37,900 bales, respectively; a decrease of 10.1% over the three sale period when compared with last year.

In South African sales, the Cape Wools Indicator was up by 1.2% since last week against a 0.8% depreciation of the Rand against the US Dollar and a 2.3% appreciation against the Euro. 9,690 bales were on offer.

The Cape Wools Indicator has appreciated by 46.6% in Rand and by 57.6% in US currency since the start of the South African season.

Click here to view the tables

Australian Wool Industries Secretariat

Must ReadView All

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

Digital technology to accelerate Indian business growth

Indian business will benefit much by going digital, according to a...

Textiles | On 27th Mar 2017

Raymond to buy 98,000 metres khadi fabric from KVIC

Raymond, leading Indian fashion retailer, has ordered 98,000 metres...

Interviews View All

C Kamatchisundaram

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

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

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

Paolo Ocleppo
Sandvik Hyperion

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

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

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


Browse Our Archives


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