Home / Knowledge / News / Textiles / AWEX Eastern market indicator increases 8.8%
AWEX Eastern market indicator increases 8.8%
26
Jun '17
AWEX Eastern Market Indicator (EMI) has increased 27ac/clean kg or 1.8 per cent for the week ended on June 22, 2017 to bring the closing level to 1533ac/clean kg. When measured in US dollar terms, EMI rose to 1159usc/clean kg. Gains were achieved in both Australian and US dollar terms with the market almost 20 per cent higher than 12 months ago.

Wool auctions in Australia continued to advance price levels strongly. The Merino sector wools were once again the most sought after with good gains of 1.5 to 2 per cent being commonplace, the Australian Wool Innovation said in its wool market report dated June 23, 2017 for the 51st week. Crossbreds and cardings were not neglected by any means, as those wools placed a further 5 to 15ac upon their previous values.

The weakening Australian dollar (AUD) against the US dollar (USD) was also a positive influence as rates went 0.8 per cent in favour of over-seas buyers, said the report. Contrary to the rising market levels and favourable currency, buyers and exporters reported a widespread lack of fresh business being achieved. The purchasing at auction was therefore being dominated by those buyers looking to close out any out-standing forward positions.

The indent buying orders from China were initially aggressive on Merino fleece, but on the final day, particularly in Melbourne, the orders seemed to dry up almost instantaneously. This pull back put a shudder through the auction room, and towards the close, most buyers were reporting a market at 15 to 20 lower on the last sections of the sale day. Sydney was far stronger throughout on this final day and closed at levels 15 to 20 higher but that market had traded at least 15-20 cents below Melbourne on the first day of trade, so market alignment was more of the story arising from the opposing market results. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mario Crosta

Textiles | On 23rd Oct 2018

'Global textile machinery market may grow at 14% by 2020'

Analysts have predicted that the global textile machinery market may...

Cotton production and exports in West Africa. Courtesy: FAS/USDA

Textiles | On 23rd Oct 2018

Record cotton production to drive West Africa exports

Cotton exports from West Africa for 2018-19 are projected to surpass...

Courtesy: Prudence Earl on Unsplash

Textiles | On 23rd Oct 2018

Sri Lanka's textile exports up 4.7% in Jan-July '18

Sri Lanka’s earnings from textiles and garments exports increased by...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

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

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

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

Pranav Mishra, Huemn

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search