AWEX INDEX	This Week S16/17	This Week M16/17	Last Sale S15/17	Sydney Change	Last Year Sydney	Sydney Yearly Change
17	2338	2284n	2301	+37	1661	+677
18	2161	2144	2156	+5	1650	+511
19	1885	1888	1886	-1	1572	+313
20	1657	1645	1681n	-24	1466	+191
21	1553	1550	1589n	-36	1414	+139
22	1476n	1481	-	-21 (M)	1382 (M)	+94
26	1043	1049n	1053	-10	1065n	-22
28	726	741	753	-27	746	-20
30	521	514	526	-5	609	-88
MC	1206	1209n	1188n	+18	1099n	+107

The market barely moved this sale as the AWEX EMI could only manage a 2 cent rise to 1568 and in $US terms was also marginally better, up by 7 cents to 1231. This equates to an average lift of 223 cents (19%) on the same week last year. The appreciation in the FRX by over 1.75 cents at one stage and the lift in volume by 7690 bales (20%) did little to deter buyers, especially those chasing the superior superfine types on offer in Sydney. By week’s end 17.5 to 19 gained up to 15 cents while finer types < 17 micron were better by 35/45 cents with lots bought by Italian mills commanding up to 200 cent premiums. The broader microns > 19.5 couldn’t keep pace with their more fancied finer types to lose 20 to 40 cents.

Skirtings also looked to keep up with their fleece counterparts as the stylish selection < 19 micron and below 5% VM posted 20 to 30 cent gains while all other types remained solid. Cardings continued on their merry way as the 3 centres averaged a 26 cent lift with all MCIs now above 1200 cents. LKS were the standout of this sector (up by 40/60 cents) while CRT/STN added 15 to 25 cents. Crossbreds are still out of favour as losses ranged from 10 to 30 cents.

Of great interest next Tuesday will be the AWI hierarchy having to front Senate estimates for the third time in 12 months. The media attention on the Chairman has been relentless, no doubt to gain the interest of the politicians. It will be interesting to see what they uncover.

Meanwhile voting papers for the AGM elections will be sent out via post and email next Monday with voting to commence immediately. I have sent out over 4000 letters to AWI shareholders this week and am receiving plenty of positive feedback. I urge you to take an interest in this election and cast your votes and not give your proxy to the Chairman, not because I have an issue with him personally, but I do not agree with the use of proxies given to a Chairman to have the final say on who sits on the Board. I believe this should remain independent and the shareholders have the final say. I appreciate any support you can offer.

Micron	Date	Low	High
21	15-Nov-17	1540	1540
21	17-Jan-18	1535	1535
21	13-Jun-18	1500	1500