Aussie wool industry rocked by renegings on contracts. (Australian wool exporters report some Chinese buyers fail to honor contracts to purchase wool)(Brief Article) From: Daily News Record | Date: September 27, 1995 | COPYRIGHT 1995 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright information

SYDNEY, Australia (FNS) - The Australian wool industry which has only just begun climbing out of a relentless downward price spiral, has been jolted by another adverse development: the phenomenon of Chinese wool buyers reneging on contracts.

Sources within the Australian Council of Wool Exporters told DNR that some of the leading trade organizations n China, Australia's biggest customer, are not honoring their contracts to buy Australian wool.

Executive director Bob Quirk said exporters were deeply concerned and were meeting to try and think out a "possible approach" to the

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