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Recovery in crude oil prices is set to benefit synthetic yarn manufacturers because of their ability to pass on the increase to consumers, that is, fabric manufacturers.
After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday.
Since synthetic yarn is a derivative of crude oil, manufacturers have been able to raise their product prices. Synthetic yarn has become costlier by 5-7 per cent in the last two months along with a jump in cotton yarn prices.
Changing consumer preferences, like
After falling to $57.77 a barrel on October 2, crude oil prices bounced back to trade almost at three-month high of $67.50 a barrel on Friday.
Since synthetic yarn is a derivative of crude oil, manufacturers have been able to raise their product prices. Synthetic yarn has become costlier by 5-7 per cent in the last two months along with a jump in cotton yarn prices.
Changing consumer preferences, like
