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India:Chemical fiber material costs up fueled by rising oil |
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2005-3-11
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Hike in the oil prices have pushed the costs of chemical fiber materials steeply fueled by growing seasonal demand, industry sources said Thursday.
Having cascading effect, the domestic chemical fiber manufacturers have been prompted to increase prices of their products, in a direct clash with the local textile industry.
Sources said costs raw material for producing chemical fibres like high-grade terephthalic acid (TPA), ethylene glycol (EG) and caprolactam (CPL) have all witnessed rises since their peak in November.
In November, the price of chemical to manufacture polyester - TPA, climbed from US $875 per ton to $817 in December and finally to $870 in the first week of March this year.
EG, another material of polyester whose price stood at $1,128 per ton in November, $995 in December, shot up to $1,090 in the first week of March. The price of CPL, a material for nylon, amounted to $2,373 per ton in November, $1,994 in December and $2,400 in the first week of March.
However, market analysts say prices of manmade chemical fibres are unlikely to rise immediately, were unsure about long term prospects.
An official of the Korea Chemical Fibers Association said, "As we usually procure the materials three or four months before their actual use, the material price hike is not reflected right now."
Remarking that if rising trend continues, then chemical fiber makers will have to consider raising product prices, he said, adding that the price of yarn will likely rise this month.
Chemical fiber materials for South Korea are largely imported from Saudi Arabia and the United States, with imports accounting for two-thirds of domestic demand, according to the association. |
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| Korea Chemical Fibers Association |
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