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China soaring textile raw materials prices rose 80% acrylic fiber
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A survey of foreign investigative agencies, from the end of last year to early this year, textile raw materials and yarn (including synthetic and organic chemical raw materials) prices have risen 44-65%. In all synthetic fiber raw materials, acrylic fiber prices increased the most, up to 80%. In addition, silk prices have soared to the highest level in 15 years. Cotton prices since November 2008 has soared nearly 70%, but some people attribute the price surge in the yarn business, that they yield compression in recent years. Admittedly, most of non-cotton textile raw materials of petroleum products, petroleum chemical industry monopoly with strong pricing power. For all of the monopoly for the pursuit of profit is the inevitable choice. However, few realize that the monopoly of raw materials, soaring prices of raw materials in 2010, may lead to the downstream consumer market weakness in textiles and clothing, while damage in the manufacturing industry. Some experts pointed out that due to the monopoly of the international prices of raw materials and domestic double squeeze, the Chinese economy was likely to drag the bottom on the rise.
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