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Woollens Demand Switches from China to US

07 May 2015

GLOBAL – Anti-corruption reforms have distanced China from textile markets as US interest grows in European fabric.

Italian traders noted a ten per cent rise in product crossing the Atlantic last year, a ‘long awaited’ improvement, wrote the International Wool Textile Organisation President, Peter Ackroyd.

But, on the flip side, stocks are lingering in Chinese warehouses after market reforms from the Beijing government have taken effect, driving worsted sales down 20 per cent last year.

Overall sales of Italian fabrics to China and Hong Kong dropped 12 per cent. Forecasters expect a further five to 10 per cent slide in 2015.

In a report by Australian Wool Innovation, My Ackroyd was quoted as reproting a 'decidedly more positive mood' in Milan in February. 

He wrote that annual turnover had increased 3.8 per cent to over €8 billion. 

All this comes against a three year high on the eastern market indicator, which closed at 1200 cents per clean kilo recently, added Mr Ackroyd.

TheSheepSite News Desk