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The company reviews price trends in China and fluctuations in crude oil prices to fix the rates 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 ₹80.70 per kg (+3.00), MEG at ₹54.10 per kg (unchanged) and MELT at ₹87.80 per kg (+2.58). New pricing of the polyester raw materials will come into effect from Saturday.
Reliance, India’s largest player in the polyester value chain, has increased the prices of purified terephthalic acid (PTA) and MELT, while prices of monoethylene glycol (MEG) was kept unchanged. Last week, the company decreased prices of PTA, MELT but MEG was kept unchanged. The polyester value chain witnessed an upward trend due to a rise in crude oil.
At the beginning of the current fortnight, the company had decreased polyester staple fibre (PSF) price by ₹1 per kg to ₹102 per kg. However, it can witness a rise of ₹2-3 per kg in near future.
Fibre2Fashion News Desk (KUL)
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