Home / Knowledge / News / Textiles / Wool prices beat trends to rise in second consecutive week

Wool prices beat trends to rise in second consecutive week

20
Nov '08
Prices were up for a second consecutive week on the back of strong demand from China and Cape Wools' Merino indicator gained 4,7% to close at R47,55/kg clean. This means that the indicator has over the past two weeks alone gained 11%.

China is presently very active in the market with importers scrambling to fill quotas before year-end, resulting in price increases around the world.

The local price increase occurred despite a slightly stronger rand. At R10,21, it was 0,5% stronger against the dollar compared with last Wednesday's exchange rate, but at R12,89 was unchanged against the euro.

A total of 8 997 bales was offered of which 98% was sold. Major buyers were Standard Wool SA (2,729 bales); Modiano (1,471 bales); Chargeurs Wool (1,355 bales); Lempriere AUS (1,243 bales); and Stucken (1,002 bales).

The prices of all long Merino types were up between 3% and almost 8%. Average price movements for AWEX types MF4 and MF5 of 70 mm and 80 mm were as follows: 19 microns gained 6,2% to R63,53/kg; 20 micron rose 7,7% to R53,81/kg; 21 microns were 3,2% dearer at R48,90/kg, and 22 microns were up 4,3% to close at R47,39/kg. There were no quotes for 23 microns to 25 microns.

Approximately 10,000 bales will be on offer next week.

Cape Wools'


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 26th Oct 2020

25% Bangla garment manufacturing to be automated by 2023

A quarter of garment manufacturing activities in Bangladesh will be...

Pic: Shutterstock

Textiles | On 26th Oct 2020

BCI to cease all field-level activities in China's XUAR

Sustained allegations of forced labour and other human rights abuses...

Pic: Burberry

Information Technology | On 26th Oct 2020

Burberry launches gaming technology for fashion design

Burberry, and digital production agency, Koffeecup have joined hands...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Gagan Gulati,

Gagan Gulati

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

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

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 2020

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


Advanced Search