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Chemical fiber sector runs up huge losses

30
Dec '09
According to data released by the National Bureau of Statistics, the chemical fiber industry suffered losses in the first eleven months of 2009. The industry recorded overall losses totaling to 543 million Yuan.

Industry insiders estimate that consumption as well as exports from the industry looks difficult to improve in the short term, coupled with price rise of raw materials and lagging effect of energy costs.

Also considering that exports from the downstream chemical fiber consuming textile sector is still weak, profit margins of chemical fiber industry are likely to face challenges in the near future.

Fibre2fashion News Desk - China


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