The global synthetic fiber price index, which tracks the weighted average price for acrylic, nylon, polyester and polypropylene filament yarns and staple fibers, fell in February compared to a year ago, its sixteenth straight month of decline.
Prices fell in Asia and Western Europe, but rose in the USA. In Asia, prices fell by an average of 4.4% compared to the same month last year. Asian prices remain 18% below the world average.
The European index fell by 2.5%, reversing direction from the prior two months, during which prices rose by about 3.5% per month. European synthetic prices are about 12% above the world average.
The US index rose by 1.7%, the third monthly increase since last March. US synthetic fiber prices rose to a level approximately 52% above than the world average.