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Synthetic fibre prices to grow in strength in 2018

Data from the fibre consultancy PCI Wood Mackenzie records that International synthetic fibre prices increased by almost 13 per cent in 2017, more than triple 2016’s increase and the biggest annual rise since 2009.

The organisation’s Synthetic Fibres Index, which has risen in every month this year, was helped by increased International demand for apparel and textiles and higher oil and intermediates costs. Crude oil prices rose about 20 per cent to $65 per barrel in 2017, which together with strong demand for man-made fibres, have permitted producers of polyester and nylon intermediates and fibres to increase their prices. Energy experts forecast that oil prices will drop in early 2018.

Polyester filament remains the dominant man-made fibre product internationally. In China, where most of the world’s polyester filament production capacity is based, expansion this year didn’t manage to keep up with growing demand for the fibre, however suppliers will be unlikely to reduce prices if demand increases.

Staple fibre producers are running at or near capacity, with prices rising. Yarn spinners are moving to value-added products like hollow fibre and other products to blend with natural fibres. Higher prices are expected through 2018 when China’s ban on imports of plastic waste takes effect and reduces supply of recycled staple.

The spandex business is stable thanks to strong demand for apparel that contains stretch. Invista agreed to sell its spandex and nylon textile filament businesses, including brands Lycra, Coolmax, Supplex, Thermolite and Tactel, to Shangdong Ruyi, a leading textile and apparel company.

Acrylic staple prices were down for most of the year, but finally picked up a bit due to seasonal demand and higher polyester staple prices. Prices for its intermediate acrylonitrile, which were rising in the first part of the year, fell this fall.

Asian synthetic fibre prices remain over 20 per cent below the world average, down from 19 per cent a year ago. Turkey is in the process of almost doubling its polyester filament production capacity in the next two years, and has initiated anti-dumping measures, mainly against Asian imports. During the year, the gap between prices in the most expensive region, the U.S., and the least expensive, Asia, marginally narrowed, a trend that is expected to continue as the industry becomes increasingly international.

 
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