The domestic downstream yarn market increased in volume

This week, the Australian wool market saw a larger increase, with the average price of wool rising by 1.1% in auctions in Sydney, Melbourne and Fremantle. The exchange rate of the Australian dollar against the US dollar rose by 2.1%.

Buyers from China once again dominated, followed by buyers from Europe, India and Taiwan. Italian buyers performed well in this auction.

In the New Zealand market, about 9,000 bales of wool were listed on the North-South Island. Despite negative monetary policy, the auction price remained strong, with a turnover rate of 89%.

Major buyers were China, India, the Middle East and the United Kingdom, and Western Europe and Australia also gave their support.

The wool auction market in the second week of the South African wool market was strong. The Cape Merino Merino index rose by 0.9% from the previous auction and closed at 58.26 rand/kg (net hair). This is mainly due to the strong euro exchange rate, low supply and the weaker rand. The exchange rate of the rand against the U.S. dollar fell by 1.4% compared with last week and was reported at 7.31 rand. The exchange rate with the euro fell by 0.5% to 9.3 rand.

Analysis and Recommendations In the past week, the domestic downstream yarn market increased its trading volume and was basically sold to the apparel market with a small price fluctuation. From the perspective of the international market, the local auction market has a strong trend, and the global demand for high-quality wool is very strong. Dong Linyi, an analyst at woolmarket.toocle.com, believes that this week, due to the increase in transaction volume in the downstream wool yarn market, the wool market is expected to continue to magnify the trend in the downstream market, driven by the demand in the downstream market. "Narrow fluctuations" dominate.