22 November 2004 00:01 [Source: ICB Americas]
The market for polyester staple has been strong this year, and producers are raising prices to offset higher raw material costs. Year-to-date through October, US production of polyester staple had risen by 7 percent, according to Michael Bermish, director of strategic planning for Wellman Inc. Although the lower denier market is still declining, and growth in the nonwovens market has been a mere 0.5 percent, exports are up 21.5 percent, and demand has risen by 15 percent in the fiberfill market and almost 7 percent in the carpet market.
Producers implemented a price increase of 3 cents per pound at the end of October. Another 3-cent increase is slated for the end of November to be followed by a 3-cent increase at the beginning of January. Utilization rates for the industry are in the mid-90 percent range.
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