Editor’s Note: This article was originally written by Judith Russel for the Sourcing Journal and is republished with permission from the publication.
Global synthetic fiber prices fell in March compared to a year ago for the fifth straight month, led by steep reductions in Asian and European prices.
A revised measure of the weighted basket of prices for acrylic, nylon, polyester and polypropylene filament yarns and staple fiber for Asia on a C+F basis and the US and Europe on a delivered basic indicates that synthetic raw materials prices have been dropping steadily from their ultra-high levels of a year ago.
The biggest decline was in the Asia index, which fell almost 19% since last March, due to a precipitous drop in polyester prices in China from unusually high levels a year ago. A slowing of Chinese apparel exports have resulted in excess textile and fiber production capacity.
European prices dipped by 14%, an even bigger drop than February’s 9% plunge.
US synthetic fiber prices rose by a mere 0.6%, about half last month’s increase.
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Posted on May 24th, 2012 by wrapadmin
Filed under: News