Global synthetic fiber prices fell in February compared to a year ago for the fourth straight month, driven by 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 high levels of earlier this year.
The biggest decline was in the Asia index, which fell 16% since last February, due to a precipitous drop in polyester prices in China from levels a year ago that were unusually high. A slowing of Chinese apparel exports have resulted in excess textile and fiber production capacity.
European prices dipped by 8.6%, a much smaller decline than January’s 12% plunge.