Drop in US$ Encourages Wool Export Demand from AU
August 23, 2013
Australian exporters indicated that renewed weakness in the Australian dollar influenced a dip in quotations this week, down to levels that stimulated a modest increase in buying interest. Offers of Type 55 (21 micron) into China had fallen by today to around US$9.90 per kilo, greasy, CIF (90 days Letter of Credit), down from closer to US$10.10 a week earlier. Inquiries from Chinese mills picked up and it is hoped these can be converted into new business in the days ahead. In the finer wools, an improved demand was sustained from European clients, and interest was also forthcoming from India.
Reprinted in part from WTiN Wool Market Report