RIL reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials. Recent decline in crude oil prices motivated the petrochemical industry and RIL, in particular, to follow the trend. Indian market follows the price trend of Reliance as it is the dominating player in the country.
Reliance Industries Limited (RIL), India’s major polyester player, has raised the prices of PTA and MELT, but lowered MEG prices for the next week.
RIL decides prices based on trend in China and the fluctuation in crude oil prices.
The new pricing takes effect from July 1.
PSF prices remain unchanged at ₹102/kg for the first half of July.
According to the market sources, RIL fixed prices as: PTA ₹82.40 per kg (increase of ₹0.80), MEG at ₹48.20 per kg (decrease of ₹0.70) and MELT ₹87.25 per kg (increase of ₹0.45). The pricing of polyester raw materials will come into effect from July 1.
For the first fortnight of July 2023, the company has maintained prices of polyester staple fibre (PSF) at ₹102 per kg.
Fibre2Fashion News Desk (KUL)