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 ₹75.90 per kg (-1.10), MEG at ₹54.70 per kg (+2) and MELT at ₹83.87 per kg (-0.27). New pricing of polyester raw materials will come into effect from the coming Saturday. 

Reliance Industries Limited (RIL), India’s largest player in polyester value chain, has further decreased prices of purified terephthalic acid (PTA) and MELT, and increased the price of monoethylene glycol (MEG). Last week, the company had adopted the same strategy to cut prices of PTA and MELT. It reviews price trends in China and fluctuations in crude oil

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 the decline in the prices of polyester and blended yarn in the domestic market. Polyester value chain is under pressure due to COVID related restrictions in China. However, Chinese government’s recent decision to ease the restrictions may change the market dynamics. 

Fibre2Fashion News Desk (KUL)