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Crude oil surge drives PC, poly spun yarn prices up in India

The Ludhiana market witnessed a price increase of &#****;* per kg in PC yarn. Additionally, the cost of poly spun yarn rose by &#****;*-* per kg over the past week. While demand from the downstream industry improved slightly, the primary drivers of this price surge were costlier raw materials and a spike in import costs. 

Reliance Industries Limited also heightened the prices of virgin PSF and its raw materials by over &#****;* per kg. Commenting on the situation, Ashok Singhal, a trader from the Ludhiana market, told Fibre2Fashion, “Crude oil has reached $** per barrel, which will escalate the raw material costs of polyester fibre. A stronger US dollar against the rupee has further increased the import cost of polyester raw materials.”