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Fibre prices up on back of Egyptian crisis
03
Feb '11
Downstream synthetic fibre consumers may have to fork out higher prices as prices of crude oil have hit the US $100 per barrel mark, due to the crisis in Egypt.

The crisis in Egypt is reflected in the rise in prices of petrochemicals like PTA, CPL, EG and AN, which have increased by around 3-4 percent, despite a slowdown in demand due to the Chinese Spring festival week-long holidays.

These will force manufacturers of synthetic fibres like polyester, nylon, acrylic, etc to hike their prices.

Egypt is a supplier of quality naphtha, a raw material used in producing ethylene. Raw cotton supplies may also get affected as Egypt is a major supplier of the raw material with exports totaling to around four million tons.

Experts are of the opinion that once the textile plants resume operations in China after the holidays and demand picks up, it will be difficult to control prices of raw materials across the synthetic fibre value-chain.

Fibre2fashion News Desk - India

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