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, swung from a 3.9% decline in May compared to the same month last year to a 2.6% increase. Although one month’s movements do not necessarily indicate a trend, this is the first monthly decline in the index in 20 months. Although prices remain well below their lofty levels of mid-2011, it certainly looks like synthetic price declines might have bottomed out for the time being.
In Asia, prices spiked 3.6% compared to the same month last year. Asian prices remain 19% below the world average.
The European index edged up negligibly, compared to an almost 4% drop in May. European synthetic prices are about 21% above the world average.
The US index rose by 2.7%, after falling 1.7% in May, and remain 45% above the world average.