Reliance Industries Limited (RIL), India’s largest player in the polyester value chain, has increased prices of purified terephthalic acid (PTA) and MELT. However, it has kept prices of monoethylene glycol (MEG) unchanged. Last week too, the company had increased the prices of PTA and MELT while keeping MRG unchanged. followed the same pricing policy for polyester fibre raw material. The company had rolled over PSF prices at ₹107 per kg for first fortnight of September 2023.RIL’s strategy for pricing polyester raw materials involves reviewing price trends in China and the fluctuation in price of crude oil. The Indian market typically follows the price trend set by Reliance due to its dominant position within the country.
Reliance Industries Limited (RIL) has announced prices for polyester raw material for the coming week beginning Saturday.
It has increased the prices of purified terephthalic acid (PTA) and MELT, while maintaining the existing rate for monoethylene glycol (MEG).
RIL's pricing approach is influenced by market trends in China and crude oil price fluctuations.
According to the market sources, RIL fixed prices as PTA ₹88.10 per kg (increase ₹1.20), MEG at ₹51.70 per kg (unchanged) and MELT ₹93.34 per kg (increase ₹1.03). The pricing of polyester raw materials will come into effect from coming Saturday.
RIL had kept PSF prices unchanged at ₹107 per kg for the first fortnight of September 2023.
Fibre2Fashion News Desk (KUL)
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