Latest from Fibre2Fashion
Fibre2Fashion
2 hours ago
- Business
- Fibre2Fashion
Australian wool prices firm amid low supply, steady demand this week
Australian wool auctions saw firmer prices this week as limited supply met slightly improved demand. With only Melbourne and Sydney in operation and Fremantle sitting out, just over 20,000 bales were offered, of which approximately 95 per cent were sold. The market response was positive as all wool types and descriptions experienced price gains, despite buyers exercising caution. Merino wool prices rose by 10 to 20 Australian cents (ac), with high-quality lots fetching 30 to 40ac more. In contrast, lower-end types were 0 to 10ac dearer. Chinese top makers led buying activity, supported by traders and stronger China indent demand, likely reflecting hesitancy in long-term commitments due to low volume and inconsistent quality, the Australian Wool Innovation (AWI) said in its commentary for week 51 of the current wool marketing season. Australian wool prices rose this week amid tight supply and slightly improved demand. Around 95 per cent of the 20,000+ bales offered were sold. Merino wools gained up to 40ac, while RWS-certified lots attracted premiums of 150ac. Crossbred and carding types also saw modest gains. China and European buyers were active. Next week, over 32,600 bales will be auctioned across all three centres. European demand for Responsible Wool Standard (RWS) certified wool continued to command significant premiums, particularly in the 18 to 21 micron category, with some lots selling up to 150ac above standard types, the AWI commentary added. Crossbred wool performed solidly, with 28–30 micron types gaining 15ac (3.5 to 4 per cent), and finer varieties rising by 5 to 10ac. Coarser types also edged up by 5ac, while carding types posted gains of up to 10ac/clean kg. Next week's auction will see over 32,600 bales offered across all three selling centres. Fibre2Fashion News Desk (KD)
Fibre2Fashion
2 hours ago
- Business
- Fibre2Fashion
Fashion brand Mango partners with Circulose to boost circular fashion
Mango, one of the leading international brands in the fashion industry, moves forward in its commitment to sustainability by becoming the first brand to partner with global leader in recycled pulp production Circulose, since its restart, to integrate material made from recycled cotton into its production chain. This collaboration marks a milestone in Mango's commitment to sustainable fashion, aligning with its long-term strategy to transition towards a circular model and to reduce environmental impact. Through this partnership, Mango will adopt fibres produced using CIRCULOSE pulp, which is made from cotton waste recycled in a chemical process. The goal is to incorporate this innovative material into its product collections ensuring full transparency and traceability throughout the supply chain. Mango partners with Circulose, becoming the first brand to use its recycled cotton-based fibres since the company's restart. This marks a key step in Mango's strategy to adopt a circular production model and reduce its environmental impact. The collaboration reinforces Mango's long-term commitment to sustainable fashion and innovation in textile recycling. 'This collaboration marks a step on our sustainability roadmap as we strive to exclusively use fibres with lower environmental impact by 2030 and reflects our commitment to fostering a more circular and responsible fashion ecosystem, where innovation and environmental stewardship go hand in hand.' affirms Mango's Sustainability and Sourcing Director, Andrés Fernández . 'We are excited to lead the way in transforming the fashion landscape and inspiring others to join us. After launching Re-Viste in Spain to assist consumers in giving their garments a second life, we are now committed to advancing recycling through our partnership with Circulose.' 'We're proud to welcome Mango as a Circularity Scaling Partner and inspired by the brand's bold ambitions' says Jonatan Janmark, CEO of Circulose . 'As part of our new strategy to deliver a full circularity solution with expanded services for committed brands, we're excited to work closely with Mango to efficiently integrate CIRCULOSE at scale into its supply chain.' CIRCULOSE is a regenerated material made from 100% discarded cotton-rich textiles that replaces the use of virgin materials such as wood pulp or cotton and helps to close the loop on textile production while maintaining high standards of quality and design CIRCULOSE is a 'dissolving pulp' that can be used to make viscose, lyocell, modal, acetate, and other types of regenerated fibres which are then spun into yarns, woven or knitted into fabrics and finally cut and sewn into new high-quality textile products. Mango's partnership with Circulose is part of the company's sustainability strategy until 2030, whose goals include fostering innovation and the use of lower impact materials, moving towards a circular textile industry, decarbonising the supply chain, and preserving worker wellbeing across the value chain. Circularity at Mango The commitment to include more sustainable fibres and more responsible processes is a key strategic pillar of Mango's value proposal. The company's sustainability strategy aims to transition towards a circular model, based on materials with a lower environmental impact and designs conceived under circularity criteria, promoting recyclability, focusing on durability or reusing patterns that result in a lower volume of waste. In early 2023, Mango launched its first denim collection designed using circularity criteria to allow the reuse and recycling of its garments after their useful life and, thus, promoting a second life for the product. That same year, celebrating World Ocean Day, Mango also joined forces with Pyratex, a Spanish textile supplier that specialises in innovative fabrics, to market a solidarity outfit made from a mixture of seaweed, wood cellulose and cotton. In addition, Mango, along with other major brands, created the Association for Textile and Footwear Waste Management, a pioneering project that positions Spain as a leader in the circular management of textile and footwear waste. Last year the organization, under the name Re-Viste, launched a pilot project which will test selective collection and recycling models in six representative municipalities in Spain with the aim to establish an efficient system that promotes reuse and recycling. In 2024, Mango also used cotton originating from regenerative agriculture in its products through a partnership with British-Indian company Materra and by the end of the year, almost 30% of Mango's garments were designed adopting circular criteria. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (RM)
Fibre2Fashion
2 hours ago
- Business
- Fibre2Fashion
China shifts to short-term tools in monetary policy overhaul: Nomura
China is transitioning its monetary policy framework to resemble Western models, focusing on short-term policy rates and reducing reliance on medium-term lending tools. China is reshaping its monetary policy, shifting from the medium-term lending facility to short-term tools like the 7-day reverse repo rate. The PBoC is creating a narrower interest rate corridor and using DR001 as a key benchmark. However, policy transmission remains weak, and open market operations are still developing amid lingering challenges. The People's Bank of China (PBoC) has de-emphasised the one-year medium-term lending facility (MLF), instead elevating the seven-day open market operations (OMO) reverse repo rate as the primary policy rate, according to Nomura. To enhance clarity and improve rate transmission, the PBoC is establishing a narrower interest rate corridor with temporary overnight repo rates acting as the floor and reverse repo rates as the ceiling. The DR001 rate—overnight repo for depository institutions—has emerged as a key interbank benchmark. The shift comes amid growing limitations of the MLF, which has constrained bond market liquidity by tying up large volumes of Chinese government bonds (CGBs) at the central bank. In response, the PBoC resumed direct CGB trading and launched outright reverse repos to manage liquidity more efficiently. Despite this shift, challenges remain. The PBoC does not commit to unlimited lending at the corridor's ceiling. Transmission from policy and interbank rates to bank lending and deposit rates remains weak, with window guidance still critical. Open market operations are also in a formative stage, as shown by the suspension of CGB purchases shortly after resumption. Fibre2Fashion News Desk (HU)
Fibre2Fashion
5 hours ago
- Business
- Fibre2Fashion
CBI revises down UK GDP growth to 1.2% for 2025
The UK's GDP growth is forecast at 1.2 per cent for 2025, down from an earlier estimate of 1.6 per cent, and 1 per cent for 2026, revised from 1.5 per cent, according to the Confederation of British Industry (CBI). The downgrade reflects increasing domestic cost pressures and continued global uncertainty. In its latest Economic Forecast, the CBI noted that while the year began with promising growth, momentum has slowed due to persistently weak demand, cautious business sentiment, and rising employment costs. Employment costs, driven by increases in National Insurance contributions, reduced thresholds, and a higher National Living Wage, have hit labour-intensive sectors like retail and hospitality particularly hard. These pressures are expected to reduce hiring, raise prices, squeeze profit margins, and limit wage growth. UK economy is facing slow growth, with the CBI downgrading GDP forecasts to 1.2 per cent for 2025 and 1 per cent for 2026 due to weak demand, rising employment costs, and global uncertainty. Business investment and hiring are subdued, while inflation remains elevated. The CBI urges government-business collaboration and a robust industrial strategy to address productivity, skills, and energy costs. Business investment, already dampened by the Autumn Budget, is forecast to grow only modestly due to temporary spikes in the first quarter (Q1) 2025. CBI survey revealed that capital expenditure intentions are at their weakest in nearly five years. International factors also pose risks. Higher US tariffs are expected to modestly reduce UK exports and investment, while overall global volatility continues to weigh on business sentiment. On the consumer front, household spending is expected to gradually strengthen in 2026, supported by rising real incomes, lower interest rates, and easing inflation. However, inflation is set to stay above 3 per cent through 2025 due to high energy and regulated prices before softening to 2.5 per cent next year. Labour market conditions are forecast to soften, with unemployment rising to 4.8 per cent and wage growth easing in 2026. Meanwhile, interest rates are projected to fall gradually, reaching 3.5 per cent by early 2026 as the Bank of England cautiously moves towards its 2 per cent inflation target. Despite these adjustments, the UK's long-term growth prospects remain constrained by poor productivity. Output per worker is expected to stay below pre-pandemic trends, posing a continued drag on economic progress and living standards. 'Our latest Economic Forecast underlines the challenges facing businesses and the wider economy as they're buffeted by domestic and global headwinds. The unpredictable global outlook combined with rising employment costs, gloomy business sentiment, and subdued investment intentions means it's more important than ever that government pulls all the levers it can to set the UK on a path to sustainable growth,' Louise Hellem, chief economist at CBI , said in a press release. 'The spending review signalled a downpayment on hardwiring the growth mission into government priorities, with targeted investment that will raise the long-term ceiling of the economy. But we know that the innovation, investment, and jobs necessary for growth will come from business, not Whitehall, and that government must work with business to create the right conditions to help shift the economy out of low gear.' 'With GDP set to remain modest in 2026, there is an important opportunity for the government to fire up the growth agenda in the forthcoming Industrial Strategy. With the cumulative burden of increased costs being felt by firms across the economy, it is vital the Industrial Strategy helps drive a thriving environment for all businesses. A missing part remains a joined-up people strategy to make sure our industries have the skills, and the labour needed to go after growth opportunities. Unlocking investment through a comprehensive skills strategy, funding the growth & skills levy, tackling high energy costs for UK firms, and setting out a national strategy on tech adoption could help to establish a reinvigorated partnership model for effective collaboration between both government and business,' added Hellem. Fibre2Fashion News Desk (SG)
Fibre2Fashion
5 hours ago
- Business
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Germany's LEI slips in April, signalling economic headwinds
Germany's economic recovery momentum showed signs of strain in April 2025, as The Conference Board Leading Economic Index (LEI) fell by 0.2 per cent to 87.1, based on a 2016=100 reference level. The LEI, a predictive measure designed to anticipate turning points in the business cycle, also contracted by 0.2 per cent over the six-month period from October 2024 to April 2025—marking a slowdown compared to the 0.9 per cent decline in the preceding six months, The Conference Board said in a press release. In contrast, Coincident Economic Index (CEI), which tracks current economic activity, declined slightly by 0.1 per cent in April to 103.6 (2016=100), following a 0.3 per cent increase in March. However, on a six-month basis, the CEI edged up by 0.1 per cent—an improvement over the 0.4 per cent drop recorded between April and October 2024. Germany's economic outlook weakened in April 2025, with the Leading Economic Index (LEI) falling by 0.2 per cent to 87.1, indicating softening momentum. CEI also dipped 0.1 per cent to 103.6 but showed slight six-month improvement. While the LEI highlighted subdued future activity, the CEI points to modest current stability amid ongoing economic headwinds. The LEI's decline was influenced by weakness across several indicators, including new orders for investment goods and softening consumer confidence. Meanwhile, the CEI was supported by stable trends in industrial production and employment. Together, the LEI and CEI suggest that while the German economy continues to stabilise, significant headwinds remain. Fibre2Fashion News Desk (SG)
