Synthetic fiber prices surge as Middle East conflict spreads to the textile industry

China's textile industry holds a leading position globally, and the price of synthetic fibers — a core raw material for the textile industry — is directly linked to crude oil. As chemical fiber products are inseparable from basic chemical raw materials refined from oil, every increase in crude oil prices is directly reflected in the company's production process. From the overall market perspective, prices of synthetic fibers have risen to varying degrees: for example, polyester filament yarn, a major product category of polyester, increased from about 7,180 yuan per ton in March this year to 9,300 yuan per ton; certain types of nylon have seen weekly price increases of more than 6%, and some models experienced a single-day jump of 2,000 yuan per ton. (CCTV Finance)