A RED hot fire was lit under the wool market last week, pushing prices for some micron types to sky-high levels.
Even the Eastern Market Indicator, which had been falling for the past three weeks, climbed back up to its record level of 1818 cents a kilogram.
This record price was first set at the start of this year following a surge which started in the final weeks of selling last year.
Australian Wool Exchange market information manager Lionel Plunkett said prices generally rose between 60c/kg and 120c/kg, with some superfine types extreme.
The 16.5-micron wool surged an average of 138c/kg to hit 2966c/kg, while 17.5-micron was 121c/kg dearer on 2651c/kg at the Sydney auction.
Even the 20-micron wool were nearly 100c/kg higher to finish the week in Sydney at 1999c/kg.
“The EMI gained 80c/kg for the week, pushing it back to its record high of 1818c/kg,” Mr Plunkett said.
“The 80c/kg increase is the largest weekly rise since January 2011.”
Most of the 80c/kg lift was attributed to a 70c/kg rise on the first day last week, which Mr Plunkett said was the largest single day rise in seven years.
“Although the EMI could only equal its record, the micron price guides for 17.5 to 18 micron and 20 to 21 micron did manage to set new individual highs,” he said.
The crossbreds also experienced a sharp lift.
General price rises of between 40c/kg and 80c/kg were felt across the board last week.