Led by a double-digit price declines in all major world markets, the global synthetic fiber price index fell 14% in September compared to a year ago, its eleventh straight monthly drop, but the smallest decline in 6 months. The measure, which tracks the weighted basket of prices for acrylic, nylon, polyester and polypropylene filament yarns and staple fiber indicates 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 over 17% since last September due to declining demand amid an economic slowdown in the region and a drop in intermediates prices. Asian prices were 20% below the world average in September.
The European index fell by 10.7%, almost half of August’s 21% drop. Double-digit price declines in the European index have occurred in each of the past seven months. European synthetic prices are about 20% above the world average.
The US index fell by almost 10%, less than August’s 11% plunge, but the sixth consecutive monthly drop. US fiber prices remain well above their global counterparts, and about 40% higher than the world average.