Home / Knowledge / News / Textiles / African wool market loses steam

African wool market loses steam

05
Apr '12
The market closed softer for a second week in a row and Cape Wools' Merino indicator dropped 2.6% compared with last week to close at R99.43/kg (clean). This is the first time since January that the indicator has dropped below the key R100/kg level.

The fall in prices was in line with Australia where the market was also trending downwards. The small offering of 5 511 bales did little to attract much interest from overseas buyers, particularly from the Chinese, who were mostly absent from the market.

Although the rand had depreciated by 1.9% against the US dollar compared with the average rate two weeks ago, trading at R7.71, it could not halt the decline. It was 0.7% softer against the euro, trading at R10.16.

A high sales percentage of 97% was achieved. Major buyers were Lempriere SA (1 422 bales), Standard Wool SA (1 230 bales) and Modiano SA (1 034 bales).

Prices for all long, quality fleece wools were down, with the 19.5 to 20.5 micron categories falling the most.

The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns were down 1.5% at R121,33/kg, 18.5 microns dropped 1.5% to R117,26/kg, 19 microns were 1.7% softer at R110,95/kg, 19.5 microns were 3% cheaper at R108.14/kg, 20 microns softened by 3.1% to close at R104.90/kg, 20.5 microns were down 3% at R102,82/kg, 21 microns shed by 2.2% to close at R103.08/kg and 21.5 microns were 2.7% cheaper at R101.54/kg. There were no quotes for 22 microns.

No sale has been scheduled for next week, but sales will resume on 18 April when about 10 000 bales will be on offer.

Cape Wools


Must ReadView All

Pic: Shutterstock

Textiles | On 3rd Aug 2021

Pingnan County in China investing ¥26 bn in textile industry cluster

Pingnan County in the Guangxi region of China is building a textile...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

84% industrial units in Bangladesh reopen; union leaders concerned

Around 84 per cent of Bangladesh's textile and readymade garment...

Pic: Shutterstock

Apparel/Garments | On 3rd Aug 2021

Prime Content| Vietnam textile & garment exports at $17.953 bn in Jan-June '21

Vietnam earned $17.953 billion from textile and garment exports in...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Aashumi Mahajan,

Aashumi Mahajan

Luxe Maison is a premiere haute couture e-boutique established after 2015. ...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


July 2021

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


Advanced Search