Not-so-golden fleece: Australian wool prices plunge amid Sino-U.S. trade war
By Editor - Thu Aug 15, 9:16 pm
The price of Australian wool favoured by Chinese clothing makers has dropped as much as 20% in the last fortnight, sales reports show, with would-be bidders shunning auctions as the Sino-U.S trade war ramped up. Bidding has been particularly weak in Western Australia’s Fremantle auction, where more than half of fleeces are failing to find a buyer, the sales reports show. Prices have also been pressured in the country’s two other big selling centres of Sydney and Melbourne.
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