Chemical fibers contain regenerated fibers and synthetic fibers, such as polyester, nylon, acrylic, spandex and others. Influenced by fashion trends, knitted chemical fabrics are now becoming popular.
Affected by increase of Russian crude exports and the US action of lifting crude exports band, internal crude oil price runs to a big drop. Last week, the price goes lower than 50 USD per barrel for the first time. This is the lowest point since April, 2009.
In fact, international crude price has been decreased continuously since the second half of 2014. The price has been cut for nearly half of the previous, from 115 USD per barrel in June, 2014 to less than 50 USD per barrel.. Alteration of oil price leads the price of textile products in Keqiao.
From the second part of 2014, Chinese textile export to Russia are mainly rely on the price advantages of chemical fiber fabrics. That is because, chemical fibers are made from oil. The drop of oil price results in decreased costs of raw materials in view of textile enterprises. Besides, rubles of Russia are depreciated last year. Therefore, the costs of chemical fiber fabrics are decreased further. Polyester knitting fabrics have ushered a great sales boom. It is the same to nylon knitted fabrics and polyester-cotton blend fabrics.
According to insiders, chemical fabrics are jointly influenced by oil price, inventory and demand. In spite of reduced crude price, it is still hard for fabric manufacturers to benefit from markets due to decrease of demands.
