Reliance, India’s largest player in the polyester value chain, has further decreased the prices of purified terephthalic acid (PTA) and MELT, and cut the price of monoethylene glycol (MEG). Last week, it had slashed the prices of PTA and MELT, but increased the price of MEG. It reviews price trends in China and fluctuations in crude oil to fix prices of polyester raw materials. Indian market follows the price trends of Reliance as it is the dominating player in the country. According to market sources, RIL fixed PTA price at ₹78.50 per kg (-1.40), MEG at ₹52.20 per kg (-1.00) and MELT ₹85.26 per kg (-1.54). The new pricing of polyester raw materials will come into effect from this Saturday.
Reliance Industries Limited has further decreased the prices of purified terephthalic acid (PTA) and MELT and cut the price of monoethylene glycol (MEG). Last week, it had slashed the prices of PTA and MELT, but increased the price of MEG. It reviews price trends in China and fluctuations in crude oil to fix prices of polyester raw materials.
In the beginning of the current fortnight, the company had cut prices of polyester staple fibre (PSF) by ₹3 per kg to ₹102 per kg. Declining prices of PSF and raw materials are causing a decrease in polyester and blended yarn prices in the domestic market.
Fibre2Fashion News Desk (KUL)