Indian market follows Reliance’s price trends as it is a dominating player in the country. According to market sources, RIL has fixed PTA price at ₹77 per kg (-1.50), MEG at ₹52.70 per kg (+0.50) and MELT at ₹84.14 per kg (-1.12). New pricing of polyester raw materials will come into effect from Saturday. 

Reliance, India’s largest player in polyester value chain, has further decreased the prices of purified terephthalic acid (PTA) and MELT. However, it increased the price of monoethylene glycol (MEG). Last week, it slashed the prices of PTA, MEG and MELT. 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 further cut the price of polyester staple fibre (PSF) by ₹3 per kg to ₹99 per kg. Decreasing prices of PSF and raw materials are leading to a decline in the prices of polyester and blended yarn in the domestic market. 

Fibre2Fashion News Desk (KUL)