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.
The Sourcing Journal is a proud partner of WRAP. Sourcing Journal is a global resource for news and information tailored for textile and soft goods executives working on the supply chain side of the business. The online resource provides daily updates on news changing the industry, commentary and opinion from industry experts. For more information, head to the Sourcing Journal’s website.
Notice: The WRAP blog may feature links to external sites as an enhancement to the post. WRAP is not responsible for the content of external internet sites.