THE FIBRE MARKETS

Evening Post, Volume CXVIII, Issue 13, 16 July 1934, Page 12

THE FIBRE MARKETS

AVigglesworth and Co.,- Ltd.; London', the leading authorities on the fibre markets, reports June 1, as follows:—"New Zealand-hemp and tow.—Dominion information.indicates a short supply and a good demand especially for . spot parcels. Australia • is' in the' market, but is unable to pin-chase'sufficient for more distant needs. European interest is small and' the few offers received have no attraction for spin-' ners. The -latest nominal values are:—Good fair, £17 -10s per ton;' high point fair, £15 10s; fair,'£l4 ss; commoti, £12 10s, No. 2 tow, £11; No. 3tow," £10. June-July shipment, c.i.f. London basis." Of other competing fibres the same firm reports Manila receipts and stocks to date at 571,000 and 139,000 bales respectively, compared with 415,000 and 140,471 for the same period of last year. "Absence of any general trade- and the full supplies showing make the month' one of the quietest for a. long time." Value for the finer grades declined 10s to £1 per tori. Production is not restricted and Manila continues to lose prestige to sisal.; Consumption, however, is increasing. The tone of the-East African sisal-market is described as "distinctly optimistic." "Europe has been the main support to theinarket in buying, not only for immediate requirements, but for extended shipments, to the end. of the year. In America and Canada the wheat crop outlook is most unfavourable in certain areas, and this has tended to delay the buying of sisal."