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Wool demand slack even as prices creep higher
23 May 2005
Wool prices have been rising in recent weeks, but The Woolmark Company says the rise is only due to currency fluctuations. Woolmark said there had been no fundamental increase in global demand for raw wool. Woolmark said while there was evidence of reasonable orders for wool yarn from fabric makers,that had not translated into increased buying of wool by the spinning and combing sector. The benchmark eastern market indicator for wool rose 13 cents a kilogram, or two per cent, during the week to a three-month high of 740 cents a kilogram clean. The WA-focused western market indicator closed at 711 cents.
West Australian, 23/05/05
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