In the last week of July, crude oil markets continued to wriggle as US crude posted its highest monthly drop since the 2008 financial crisis, this time after a string of losses in July triggered by stock market slump in China and signs that top Middle East producers were pumping crude at record levels.
Falling crude triggers cost reduction in raw materials for making polyester
Related Keywords: crude oil prices, ethylene price, MEG price, mono ethylene glycol, naphtha price, paraxylene price, polyester chip, polyester fiber, polyester filament, Polyester prices, polyester spun, polyester yarn, PTA price, Purified terephthalic acid
In the week ended 5 September, crude oil prices climbed more than US$2 early in the week as the markets bounced off several month lows hit in the previous week. Also prospects for peace in CIS and a strong US data raised demand expectations. Weaker US$ and expectations of a decline in US crude stocks also supported prices. However, the oil complex settled lower on the week after a ceasefire agreement in Ukraine helped minimize risk premium, while concerns remain over the impact of Russian sanctions on European demand.
Crude oil price and anti-dumping duty on polyester triggers fret for Surat we
Related Keywords: anti dumping duty, costlier, crude oil prices, finished fabrics, MMF hub, polyester yarn, Surat weavers, textile traders
Textile entrepreneurs from the country's biggest man-made fabric (MMF) hub of Surat are concern over the rising crude oil price and imposing of the anti dumping duty on polyester yarn.
Rise in crude oil price in Asia due to continuous violence in Iraq, yarn manufacturers have increased the prices of yarn by Rs 4 per kilogram. While with the anti-dumping duty on polyester yarn, the basic raw material for Surat’s MMF sector, the local weavers in the powerloom sector has to heavily depend on domestic manufacturers.
