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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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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