Oil prices have continued rising since October last year, but chemical fiber products have not followed suit. Instead, their prices have declined to various degrees.
Experts attribute the price drop of chemical fiber products to a downturn in demand from the global textiles market. This has caused the off-season in the first half to come earlier.
In mid-September last year, China's fiber price index of polyester staple fiber rose to the highest 14,000 points, but fell to 11,400 on March 16 this year, a drop of 18.5 percent.
Similarly, prices of spandex, nylon and other synthetic products also show an overall downward trend since the last quarter of last year.
An analysis of the global textile industry points out that the European and US markets are in debt crisis and the Middle-East is under unrest.
This has resulted in demand from global garment and textile markets to sink into downturn.
In the past, March was the peak season for textile production. Even if prices of oil and other raw material declined, prices of chemical fiber products would rise.
But in February this year, prices of textile raw materials fell in a rush, which indicates a weakening of demand from the downstream textile sector.
However, sales momentum in Chinese domestic market is still very strong and a few clothing and textile enterprises have made a successfully transition from exporting to supplying to domestic markets.
Fibre2fashion News Desk - China