Home / Knowledge / News / Textiles / AWEX EMI sets new all-time record; touches 1847ac per kg
AWEX EMI sets new all-time record; touches 1847ac per kg
27
Apr '18
Courtesy: Pexels
Courtesy: Pexels
In the week ending April 27, 2018, the Eastern Market Indicator (EMI) of the Australian Wool Exchange (AWEX) set new all-time record for the daily high EMI of 1847ac per clean kg. The historic week also saw a new all-time record for the week-ending high of 1846 ac per clean kg. This is 23 per cent or 345ac higher than at the same sale week of last year.

Significantly, the record high price has occurred when over 50,000 more bales of wool have been sold through auction than at the same period last year, the Australian Wool Innovation (AWI) said in its ‘Wool Market’ weekly report for the sale week 43 of the current wool year.

EMI has risen over the last few years from 1153ac per clean kg in week 43 of 2014-15, to 1217ac in 2015-16, to 1501ac in 2016-17, and now 1846ac in 2017-18.

During the week, some extravagant gains were made on local markets, particularly within the comeback and crossbred sectors (24 to 32 micron) which is a break away from season-long trends. Indicative of this was the 25 micron price guide lifting by an extraordinary 149ac.

The AUD v USD forex (foreign exchange) took a savage reversal this week, with a week-on-week depreciation of 3 per cent from 0.7804 down to 0.7574. The EMI when expressed in USD closed out the selling week 26usc lower at 1398usc clean kg. Most of the USD losses were due to stagnant prices of a large portion of the Merino sector. This USD EMI is out performing the AUD prices and it is now 24.5 per cent higher than last year in US dollar terms.

“In the Merino segment of the auction offering, the general lowering of recent wool quality is increasingly causing many price anomalies. Price discovery is now wildly erratic with yield, staple length and nkt (strength) becoming growing factors in price determination, on top of the season long factors of fibre diameter, poBm (position of break Middle) and cvh%(co-efficient of variation hauteur), making for more complicated batch finalisations for exporters,” the AWI report said.

The large majority of Merino price indicators of 16 to 21 micron were largely unchanged for the week but within those variations of plus or minus 40ac were individually changed dependent on quality.

Comeback and Crossbred wools (24 to 32 micron) enjoyed the best gains of all wool types and appreciated by a general 70ac. Competition was intense throughout. Cardings remained unchanged.

Around 43,000 bales are scheduled to sell at next week’s auction. “Strong, but irregular interest due to quality is expected to continue,” according to AWI. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Prime Minister's Office, UK

Textiles | On 15th Nov 2018

British PM May secures cabinet support on Brexit

The British cabinet on 14 November backed a draft withdrawal...

India expands paperless processing of export documents

Apparel/Garments | On 15th Nov 2018

India expands paperless processing of export documents

To improve ease of conducting business and promote paperless...

Pak textile mills assured of ECC decision implementation

Textiles | On 15th Nov 2018

Pak textile mills assured of ECC decision implementation

The Pakistani prime minister’s advisor for commerce, textile,...

Interviews View All

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Marcello Galvanin,

Marcello Galvanin

Galvanin has more than 50 years of experience in the production of textile ...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

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

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

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

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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


November 2018

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

news category


Related Categories:

Advanced Search