NEW YORK -- Asian yarn spinners were well positioned for new business at last week's Yarn Fair, since they had competitive prices and had stepped up their game considerably in terms of creativity, according to buyers.
The volatile exchange rate between the euro and the dollar created price increases for European spinners at the show, which took place July 21-23 at the Metropolitan Pavilion in New York.
"It's both the raw material prices and the exchange rate working together," said Nicola Bonello, a salesman at Di.Ve, a spinner based in Biella, Italy. "The market does not accept the increase, but you can't automatically pass it along if you want to sell anything."
The dollar Monday stood at 0.87 euros, down 13.9 percent from a year ago.
In addition to currency issues, raw material prices also have increased. The price of wool, for example, has increased by about 5.6 percent since last year, so spinners are adding synthetics such as nylon and acrylic to their yarns, which helps... |
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