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Drumbeat: Ad Buzzaar
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Monday, August 17, 1998
Australian wool stabilises
REUTERS
Australian wool prices rose by seven cents a kg clean on average at sales this week, recouping a small part of the big losses of the week before. The Australian Wool Exchange (AWEX) eastern market indicator (EMI) last week rose seven cents to 556 cents a kg at sales in Sydney and Adelaide.At Fremantle, the western indicator rose five cents to 514 cents. The rally followed the slump of the week before when sales resumed after a three week break and the AWEX EMI fell by 44 cents to 549 cents a kg. "The wool market opened this week on a stable note following the heavy price falls experienced last week," pastoral house Wesfarmers Dalgety Ltd said in its wool weekly report. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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