For the second month in a row, global synthetic prices rose in each of the key world market regions, according to data released by consulting firm PCI Fibres. The global synthetic fiber price index, which tracks the weighted average price for acrylic, nylon, polyester and polypropylene filament yarns and staple fibers, increased by 3.9% in July compared to the same month last year, its biggest monthly jump in over a year and a half. Although prices remain well below their lofty levels of mid-2011, it certainly looks like synthetic price declines might have bottomed out and started to rise.
In Asia, prices spiked 2.9% compared to the same month last year. Asian prices remain 19% below the world average.
The European index surged 6.1%, its biggest monthly increase since October 2011. European synthetic prices are about 20% above the world average.
The US index rose by 3.8%, after falling 1.7% in May, and remains 45% above the world average.