Home / Knowledge / News / Textiles / AWEX wool indicator finishes 3.5% higher last week

AWEX wool indicator finishes 3.5% higher last week

17
Sep '12
Australian Wool Industries Secretariat Inc (AWIS) releases wool sale report for the week ending September 14. The Australian Wool Exchange (AWEX) Regional Indicators finished 3.5% higher, on average, at sales in Sydney, Melbourne and Fremantle this week.  The US exchange rate rose by 2.6%, taking the Eastern Market Indicator (EMI) in US currency to 1003¢, up by 6.0% since last week.

The market opened very strongly on Wednesday, with good rises across all micron ranges and wool types, apart from the broader crossbreds in the North.  The greatest gains on a percentage basis were from 19.0 to 22.0 microns.  The size of the increases was a surprise, as the current feedback from China is that business is very quiet.  Discussion within the trade suggested that the market may have been driven by companies who needed to complete shipping requirements.  There was also speculation as to whether it was because the sale coincided with the start of the Nanjing Wool Market Conference.

The market maintained its overall level on Thursday, with further gains at the fine end and among the crossbreds.  There was some easing from 19.0 to 22.0 microns. The sale of an 11.1 micron lot for 110,000¢ in Melbourne on Tuesday was a feature of this week’s sale.  AWEX reported that this is the finest lot ever sold at auction.

The Eastern Market Indicator (EMI) is 316¢ (-24.8%) less than in the same week last year and the WMI is 307¢ (-24.2%) less than in the same week last year.  The lift in this week’s market has brought the falls in the Eastern Market Indicator (EMI) and the WMI since the start of the season back to 112¢ ( 10.5%) and 110¢ (-10.7%), respectively.

In other countries, the South African Cape Wools Indicator was up by 2.7% since last week.  In New Zealand, the Wool Services International crossbred Indicators were mixed, varying from small falls to unchanged or slightly firmer. Among other fibres, December Futures for cotton fell during the week, but recovered on Friday to finish the week at 75.90¢, down by 0.5% from the previous week.

33,192 bales were on offer, compared with 36,758 bales last week.  6.2% were passed in, comprised of 4.1% in Sydney, 6.5% in Melbourne and 8.5% in Fremantle.  Pass-in rates for Merino fleece and skirtings were 6.9% and 5.2%, respectively. 31,128 bales were cleared to the trade.

The year-to-date offering is 49,359 bales less (-13.6%) than at the end of the same week last year.  Expected offerings over the next three sales indicate that this figure will move to around -11.5% over that period.

Exchange rates during the week were largely influenced by expectations of what might happen in Germany where the courts were considering Germany’s ability to participate in the Euro Stability Mechanism (EMS).  The court’s approval led to a significant lift in global economic confidence and in the US exchange rate.


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Jul 2021

ILO outlines 3 scenarios for Asian garment sector recovery trajectory

Looking to the post-pandemic period, a new research brief by the...

Pic: Shutterstock

Retail | On 30th Jul 2021

UK retail sales up 0.5% MoM in June; clothing store sales down 4.7%

Retail sales volumes in the UK increased by 0.5 per cent in June 2021 ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Yawer Ali Shah,

Yawer Ali Shah

Synthetic colours and dyes were all the rage till the very first ban on...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

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