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Global Synthetic Fiber Price Declines Ease in October

The global synthetic fiber price index fell 10% in October compared to a year ago. It’s the eleventh straight monthly drop, but the smallest decline in seven months, and much smaller than September’s 14% decline. The measure, which tracks the weighted basket of prices for acrylic, nylon, polyester and polypropylene filament yarns and staple fiber, continues to confirm that synthetic fiber prices have steadily fallen from their ultra-high levels of early 2011.
Price reductions in Western Europe and Asia continue to have the greatest impact on overall price movements. The biggest decline was in the Asian index, which fell by almost 12% since last October due to declining demand amid an economic slowdown in the region and a drop in intermediates prices. Asian prices were 18% below the world average in September.
The European index fell by 9%, not much different from September’s 10% drop, but the first time in eight months that the drop was in single, rather than double digits. European synthetic prices are about 20% above the world average.
The US index fell by almost 6.5%, less than September’s 10% plunge, but the seventh consecutive monthly drop. US fiber prices remain well above their global counterparts, and about 40% higher than the world average.

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