04 March 2022, Mumbai:
A steep rise in crude oil prices amid the Ukraine crisis pushed acrylic fibre prices by Rs 5-6 per kg last week in the Indian market.
The cost of acrylic yarn also increased by Rs 5-6 per kg during the week ending February 26 in Ludhiana, the country’s most prominent man-made yarn market.
However, the demand for man-made yarn remained weak due to poor buying from the downstream industries.
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ALSO READ: CITI’s Manmade Fibre Conclave'22: Virtual platform, 9th Mar
Meanwhile, international cotton prices remained highly volatile along with other commodities due to the recent geopolitical developments. Domestic demand for the summer season remained low due to a drop in temperature.
Export demand also remained weak as exporters have very few orders.
Recent international developments are also adding to buyers' woes due to uncertainty in garment exports.
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