Volatility in crude oil prices pinches synthetic textile manufacturers

Raw material buyers in the synthetic textile industry disappeared from the market amid expectations of a further fall in prices

Volatility in crude oil prices has hit synthetic textile manufacturers hard, with a frequent change in buying behaviour observed for both the raw material and finished products segments.
 
When crude prices hit their highest levels in 2018 at $86 a barrel (on October 3), raw material buyers placed massive orders steadily to build their pipeline inventory before any further rise.
 
However, the entire sentiment saw a reversal in two months, when crude oil prices slipped to trade at $49.73 a barrel (on December 24).
 
Raw material buyers in the synthetic textile industry disappeared from the market amid