Costlier crude oil pushes up acrylic yarn price in India's Ludhiana

28 Feb '22

2 min read

Pic: shutterstock.com

Due to a steep rise in crude oil prices amid the Ukraine crisis, the price of acrylic fibre increased by ₹5-6 per kg last weeek in the Indian market. This pushed up the cost of acrylic yarn by ₹5-6 per kg during the week ending February 26 in Ludhiana, the country’s most prominent man-made yarn market. However, demand of man-made yarn remained weak due to poor buying from downstream industry.

Although demand was not encouraging in the yarn market, polyester-cotton yarn did not see any major price movement because higher PSF prices were balanced by bearish cotton. Domestic cotton prices were noted in silent zone on Friday and Saturday.

Meanwhile, international cotton prices recorded high volatility along with other commodities due to the recent geo-political developments.

On the demand front, traders said that domestic demand for summer season did not pick up as temperature remained at lower level. Export demand also remained weak as exporters have very few orders. Recent international developments are also a cause of worry for buyers, and they are cautious for fresh buying due to uncertainty in garment exports. According to sources, buyers were adopting wait-and-watch policy as they did not want to take blind risk.

In Ludhiana, 30 count PC combed yarn (48/52) was sold flat at ₹290-300 per kg. 30 count PC carded yarn (65/35) was priced at ₹240-250 per kg and 20 count PC (recycled) yarn O/E (40/60) was traded up by ₹5 at ₹223-225 per kg. Acrylic NM (2/48) was priced at ₹345-350 per kg and acrylic NM (2/32) at ₹285-290 per kg.

Fibre2Fashion News Desk (KUL)

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