Prices of petrochemical feedstock and synthetic fibres and filaments in the first half of 2004
The increase in the price of crude oil on the world market has been much higher than predicted by politicians and experts. In the first half of 2004, the prices for basic petrochemical feedstock for synthetic fibres underwent insignificant fluctuations on Asian/Far Eastern, USA, and Western European markets, but they increased almost everywhere in comparison to the end of 2003. The prices (from 10 to 20%) for commercial polypropylene and poly(ethylene terephthalate) increased sharply in the same period. Following the negative trend of the change in the prices of crude and oil-based raw materials all over the world in the first quarter of 2003-June 2004, the prices for PAN tow and PES fibre, industrial and textured PES cord fibre (except for Western Europe), and industrial (cord) and textile PA fibre (except for Western Europe) increased markedly. In most Asian countries, including China, imports of cotton (fibres and yarn) continuously increased in comparison to exports.
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