THE WOOL MARKET

Dominion, Volume 28, Issue 108, 31 January 1935, Page 12

THE WOOL MARKET

London Sales Steady ACTIVE COMPETITION By Telegraph.—Press Assn. —Copyright. London. January 29. At the wool sales to-day 8812 bales were offered, including 5463 from New Zealand. About 7126 hales of Australian and New Zealand wool were sold. There was active Home and Continental competition at steady rates. New Zealand greasy crossbred, Maka, 10.W.. 9]d. Ihiifbred lamb slipe. 1/11}. Dalgety and Company, Limited, report :—Wool market continues firm tor all good greasy merino. Scoured merino rather higher,' short faulty and wasty merinos irregular and rather easier. Crossbred firm, except fine crossbred, 5 per cent, lower. Sales close on February SYDNEY SALES VERY FIRM Strong Japanese Competition Bv Telegraph.—Press Assn.—Copyright (Received January 30. 9.45 p.m.) Sydney. January 30. At the wool sales to-day 11,298 bales were offered, of which 10.454 bales, were sold at auction, also 852 disposed of privately. There was strong competition from Yorkshire and Japan, witii good support from the Continent. The mark. 4 was very firm. Greasy merino made 17d. AUSTRALIAN POSITION Strong Yorkshire Demand The simultaneous offering of large supplies of wool in Australia, South Africa, London and other countries has not shown ill-effects on demand for the staple, states the “Sydney Morning Herald” ot January 19. Apprehension in regard to the maintenance of peaceful conditions in Europe has been allayed by the absence of disturbance during the voting in the Saar. If arrangements in respect to tne return of the territory are finalised to the satisfaction of all concerned, the outlook for business on the Continent should gradually prove more favourable than during the past seven months. Post-war years have forcibly demonstrated to growers that their welfare nor only depends upon seasonal conditions and the production of a good clip. The influences on the industry extend from the paddock to circumstances existing among consumers in the most disitant countries of I lie world. Selling conditions maintained late values at this week's Sydney auctions. Shafty, good length wools, suitable for the English trade, commanded the keenest, inquiry, the shorter lines being adapted to the Continent, from which quarter inquiry does not show normal strength. Yorkshire bought witii marked vigour, stocks being reported as inadequate for requirements in Bradford, where a good volume of sales of tops and yarns lias been resumed with Germany. Japan was very active, and German operators purchased in large quantities. French orders, however, were only moderate. Belgium was an appreciable competitor. Italy was a limited buyer, but Australian millmen gave the market good support. A few lots were secured for America. The week’s offerings totalled 48.473 bales, of which 90 per cent, was sold at auction. The bulkiness of saleroom transactions indicates the ready inquiry available, but France. Germany and Italy did not buy in the volume seen in preceding years. If operations for these countries displayed customary strength, it is likely that values would be appreciably higher. Some of the catalogues submitted supplied more attractive selections than were offered during the preceding week, but a good proportion of the supplies consisted of burry, topmaking wool. The absence of any definite rise in flic average price secured for the week's offerings since the New Year has been due to the fact that selections have not been as attractive as those submitted in December. Clean Costs. The following figures, showing the clean cost on the floor (Sydney stores) of average types of wool, illustrate the movement in the market which lias occurred since values were on the low point of early December: — Dec., Jan., 1934. 1935.

German Wool Supplies. Despite the embargo which has been in force since March, wool has reached Germany in liberal quantities. The restrictions are due to finance anti provided adequate balancing trade could be arranged imports have been permitted. The quantity of iniuorted wool retained for use in Germany from January to the end of October was the equivalent of 770,000 bales, and only 6 per eent. less than a year before. As the raw material has been secured in many countries, the wool imported has probably not been equal to tlie usual standard of raw material secured, but under existing circumstances has no doubt been manufactured into serviceable fabrics. On the figures quoted. Germany dot’s not appear to be particularly short cf the staple, but despite that evidence Iler efforts to make reciprocal trading arrangements indicate flint she wishes to secure supplies. Her imports of tops for the. period quoted show a decided decline, being 44 per cent, less than a year before. The quantity of yarns imported, however, only displayed a decrease of 8 per cent. Apparently Australia is one of very few countries which have not made some arrangements to sell her supplies.

BASE METALS MARKET Tin Firmer; Copper Easier By Telegraph.—Assu.—Copyright (Received Jamuiry 30. 0.40 p.m.) London. January 20. The oflicial London (middle) qnolations for Tuesday, as rnported by tlie Australian Mines* and Metals Association, compare as under with those previously cabled: —

d. d. 70’s spinners’ fleece, best . 26 70’s topmaking fleece 21 4.U 64/70's spinners fleece ... 22 23-24 G4/70’s topmakers’ fleece 20 22 64’s spinners’ fleece 21 22 64’s topinakers’ fleets 19-20 21-22 60/04’s topinakers’ fleece 19 21 Good pieces IS 20 Good bellies 16 18 Carbonising pieces bellies and 1 1 16

p< tn. 2S. r ion •Ian. 29. Per ton Copper— w s. (1. C s. d. Standard _ 1 IS 1A _ i 11 Standard. forward •_’< -1 4 A •j 1 j IS T7, Electrolytic 31 0 0 »>t) 15 0 to 3 10 0 3 0 0 Wire bars 31 10 0 31 0 0 Lead— Spot 10 i r> 10 <) Forward 10 9 10 id () spelter— Spot 12 • > 9 12 3 n Forward 12 . i 12 1 3 fin - Spot 0 0 2 • 12 *i Forward 1 s — *• 9 sj] ver — Standard, per oz,. . 2 1 i 21 11 b'ine . • • tllj U-16d. 2G 11-ldd.