Home / Knowledge / News / Textiles / Positive sentiments continue at Australian wool auction

Positive sentiments continue at Australian wool auction

12
Oct '18
Courtesy: Pexels
Courtesy: Pexels
The positive sentiments that arose at the conclusion of last week’s sales continued at Australian wool auction sales this week ending October 12. The apprehension seen over the past month dissipated almost entirely, with the exception of a few pockets of wool types in the carding room and some of the finer crossbred wools around the 26 to 27 micron.

The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) gained 1.56 per cent or 31ac to head over the 2000 mark again to close the week at 2023ac clean/kg. In US Dollar (USD) terms the indicator moved similarly dearer by 20usc or 1.37 per cent higher to 1431 usc clean/kg.

“The merino sector led the charge, with buyer attention well and truly biased towards the fine and medium (18.5 to 23 micron) types of all descriptions,” Australian Wool Innovation (AWI) said in its ‘Wool Market’ weekly report for the sale week 15 of the current season.

The dearer results in the market levels were very much aided by the lower AUD v USD rate early in the weeks selling. Buyers were able to utilise some of the best conversion rates seen since the end of 2015 in that rate of exchange, the AWI report said.

The buyer competition in the Merino sale room was some of the fiercest seen for quite some time as exporters scrambled to cover off inventory. The targeted zone of interest was primarily centred around the 21 micron area as that is the production area most heavily hit by destocking and drought, the report added.

“China was the predominant interest across all wools from 18 to 23 micron and it appears some of the larger top maker buyers have decided now is the time to commence ensuring supply for upcoming machinery demands,” the report said.

Meanwhile, industry focus is rightfully being shepherded towards the global wool supply issue, and it is now considered and recognised as a real concern and not just a bombastic buyer/exporter approach to encourage sales from overseas export destinations.

The official key test data from Australia extensively reported last week was further re-enforced by the three-week forecast released this week revealing an estimated shortfall of 22,170 bales or 16.5 per cent less being offered for the remainder of October compared to last year at the same period. This time of the year is considered as peak production.

At next week auctions, there will be just under 38,000 bales on offer. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 29th May 2020

Aatma Nirbhar Bharat Abhiyan needs to step up: Crisil

The steps announced by the government for the micro, small and medium ...

Pic: Shutterstock

Apparel/Garments | On 29th May 2020

Bangladesh’s Beximco exports 6.5 million PPE gowns to US

Bangladesh’s Beximco Group recently exported 6.5 million personal...

Pic: LC Waikiki

Apparel/Garments | On 29th May 2020

Turkish clothing brand LCW uses Iran as production hub

Turkish clothing brand LC Waikiki has placed an order with Iranian...

Interviews View All

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Marcel Moser,

Marcel Moser

Switzerland-based Benninger is a leading manufacturer of technologically...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn, Suominen Corporation

Larry L Kinn
Suominen Corporation

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

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

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

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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


May 2020

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


Advanced Search