Global synthetic fiber prices rose by 7.3% in July, according to the most recent data from PCI Research. It represents the continuation of a months-long trend during which the overall price index has sustained high-single-digit increases, primarily due to significant increases in Asian prices.
Asia
In Asia, prices rose by 11.5% year-over-year, and 3.8% compared to the prior month.
Polyester prices rose in July, but by considerably less than the big increases of earlier in the year due to softening intermediates prices. The lower raw materials prices were offset somewhat by a reduction in capacity at several big fiber producers due to maintenance scheduled during the hot summer months to save on energy costs. Nylon textile filament prices have been stable over the past month after retreating earlier in the spring. Spandex prices continued to fall in July, a result of lower raw materials prices. Viscose prices rose in the month, but acrylic staple remained stable.
Asian synthetic fiber prices remain more than 21 percent below the global average.
United States
In the U.S., July synthetic fiber prices rose by less than 3 percent compared to last year, but were 1 percent higher than in June.
Polyester filament prices remained relatively quiet during the July 4 closure. On July 13, industrial filament producer DuraFiber Technologies, which is owned by private equity firm Sun Capital Partners, announced it would close its three U.S. plants (Salisbury North Carolina, Shelby, North Carolina and Winnsboro, South Carolina) if a buyer is not found within 60 days. The nylon price increases of earlier in the spring have been tempered by inventory issues caused by the slowdown in apparel retail sales. Spandex prices haven’t moved much. Trade sources indicate that Invista is in discussion with several interested potential acquirers of its apparel fibers business, which includes the desirable Lycra brand, including in particular one large Chinese textile producer.
U.S. synthetic fiber prices are 53 percent above the global average.
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Europe
In Europe, prices rose 15.5% from last year.
The polyester filament business in the region remains stable. The nylon market in the region strengthened thanks to an unexpected uptick in the hosiery business and lower nylon raw materials prices. Aquafil announced a merger with Space3, a SPAC, or Special Acquisition Company, that would allow its listing on the Italian Stock Exchange and result in its ability to invest further in its Econyl brand of Nylon 6 textile filament.
Israel-based global Nylon 6.6 producer NILIT launched Sensil, its new premium brand for apparel, targeting young digitally-savvy consumers with a communications program that speaks to the quality and benefits of its products in activewear, intimate apparel, denim and other apparel segments.
European fiber prices are almost 26 percent above the global average.
