China's chemical fiber production will reach 29.80 million tons in 2010, up 10 percent year on year, according to a projection made by the China Chemical Fiber Industry Association.
The association also expects that, chemical fiber imports will touch 900,000 tons this year, an increase of 5 percent year on year and exports will be close to 2 million tons, up 35 percent year on year.
The Chemical Fiber Association says that with the recovery in the global economy, crude oil prices are expected to rise amid volatility, thus promoting prices of synthetic fiber raw materials.
The rise in cotton prices will also play a role in maintaining certain parity in prices of chemical staple fibers. Therefore, prices of chemical fiber products will stay at high level in the second half.
China's chemical fiber output registered 14,473,900 tons during the first half of this year, up 13.43 percent year on year. Imports totaled 365,900 tons, up 10.87 percent and exports reached 792,000 tons, again up 50.21 percent.
Fibre2fashion News Desk
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