Home / Knowledge / News / Textiles / Wool prices advance at Australian wool auctions this week

Wool prices advance at Australian wool auctions this week

01
Feb '19
Courtesy: Pxhere
Courtesy: Pxhere
The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) advanced by 7ac clean/kg for the week to close at 1934ac. When measured in USD, the positive progress of the market is clearly exposed as that significant figure showed a gain of 36usc or 2.6 per cent to close the week at 1406usc/clean kg, which was more reflective of the mid-week sentiment.

“The market consolidation took place in spite of the major foreign exchange of the Australian Dollar (AUD) versus the USD moving 2.2 per cent against the rates available just last week. The AUD is proving problematic and most difficult to chart forward with any degree of accuracy or certainty,” the Australian Wool Innovation Limited (AWI) said in its ‘Wool Market’ weekly report for the sale week 31 ending February 1, 2019.

In some specific categories, however, there were some radical price improvements and some minor losses during the week.

The most significant of market activity during the week centred around the crossbred sector where some massive advances in price levels were recorded. The finer edge (24 to 27 micron) appreciated by 45ac or 3.5 to 4 per cent, but it was the 28 to 30 micron zone that took huge price gains out of buyers’ pockets with rises of 100ac or almost 15 per cent increases in just the one week.

“With merino prices relatively high and volumes of the same are worryingly low, overseas manufacturers are obviously looking to other sources to continue to participate. Whilst a move towards a higher percentage of synthetic blends is always on the cards, the crossbred wools have seemingly become first choice for cheaper blend components and have been heavily targeted to keep mills churning out garments,” the report said.

Since the commencement of the New Year, crossbreds have shown great price advances with 24 to 27 micron improving to the order of 8.6 per cent to 10.6 per cent, 28 to 30 micron a huge 20.6 to 22.4 per cent whilst the broadest edge 12 per cent against a general backdrop of 3 to 4 per cent gain in merino price over the same time period.

At the auctions next week, there will be a little over 40,000 bales on offer, with the following two weeks falling sharply to just over 30,000 bales each. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Fibre2Fashion's virtual trade expo goes live

Textiles | On 15th Aug 2020

Fibre2Fashion's virtual trade expo goes live

The much-awaited F2F Sourcing Show 2020—the virtual trade fair being...

Pic: Shutterstock

Apparel/Garments | On 15th Aug 2020

UK govt launches scheme to help high street supply chains

The UK Government has launched a new programme to help high street...

Pic: Shutterstock

Apparel/Garments | On 15th Aug 2020

US-PRC trade row a plus for Sri Lankan apparel exporters

The trade conflict between the United States and China could assist...

Interviews View All

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Matthias Eilert,

Matthias Eilert

Germany-based Forbo Movement Systems division is a global leader in...

Abhishek Ralli,

Abhishek Ralli

Guide group is a government recognised manufacturing house engaged in the...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

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

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

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


August 2020

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


Advanced Search