The global synthetic fiber price decline that began late last year and intensified in early 2014 continued to be tempered somewhat in July, according to the newest data from consulting firm PCI Fibres.
The index measuring the average price for acrylic, nylon, polyester and polypropylene filament yarns and staple fell by 0.9% in July, less than June’s 2.5% drop, and the smallest monthly decline in 10 months.
Fashion preference for synthetic fibers over cotton has been more than offset by slow global demand for apparel and other textile products, particularly in key Chinese and North American markets. However, a reported spike in nylon prices caused by a rise in intermediates prices helped soften the index’s fall.
In Asia, the world’s largest fiber-producing region, synthetic fiber prices fell by 2.5% in the month compared to the same month last year after rising during a few weeks in June. Though an improvement compared to June’s 4 percent drop, there is no indication that demand has rebounded in Asia. However, rationalization of polyester supply in China has kept prices from dropping further. Polyester prices are being pressured by falling cotton prices and a lack of strength in mill demand.
Asian nylon (polyamide) prices rose in the month due a 7.2% surge in the price of caprolactam, a key ingredient for nylon.
Spandex prices were down slightly in June due to reported soft demand.
Asian synthetic fiber prices are almost 21 percent below the world average.
The European synthetic fiber price index was up by 2.4%, the only regional increase, pushing European synthetic prices almost 24 percent above the world average.
The U.S. index fell negligibly, putting the U.S. synthetic fiber prices index at almost 46 percent above the global average.
This week, the apparel industry encountered political promises, heightened personalization efforts and observed a need for more environmentally-friendly business models.Read more
When compliance problems arise, factories shouldn’t be the only ones to blame—the onus should fall on social auditors too.Read more
Oeko-Tex pledged to the Zero Discharge of Hazardous Chemicals (ZDHC) program on Jan. 19 to support the apparel industry's environmentally-friendly efforts.Read more
Nordstrom CIO Dan Little announced his retirement. Plus, Burberry tapped former Céline CEO Marco Gobbetti to take over as its new CEO.Read more
Nine West Holdings, Inc. announced it will acquire apparel manufacturer the Kasper Group.Read more
Our rainforests now have a host of new angels. Victoria Secret has taken steps to protect our forests.Read more