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Indian market follows the price trend of RIL as it is the dominating player in the country.
Reliance Industries Ltd (RIL), India’s largest player in polyester value chain, has decreased prices of purified terephthalic acid (PTA) and MELT, but has kept MEG prices unchanged. Last week, the company had increased prices of PTA and MELT. The company reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials.
According to the market sources, RIL fixed PTA price at ₹82.00 per kg (-0.50), MEG at ₹56.10 per kg (unchanged) and MELT at ₹89.76 per kg (-0.43). New pricing of polyester raw materials will come into effect from February 11.
In the beginning of this fortnight, the company had increased the price of polyester stable fibre (PSF) by ₹1 per kg to ₹106 per kg.
Fibre2Fashion News Desk (KUL)
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