At the beginning of this fortnight, the company had kept the price of polyester staple fibre (PSF) unchanged at ₹106 per kg.
Reliance, India’s largest player in the polyester value chain, has reduced the prices of purified terephthalic acid (PTA) and MELT, but has kept the prices of monoethylene glycol (MEG) unchanged. The company adopted the same strategy last week. At the beginning of this fortnight, the company kept the price of PSF unchanged at ₹106 per kg.
RIL has fixed the price of PTA at ₹81.20 per kg (down by 0.80), MEG at ₹57.10 per kg (unchanged), and MELT at ₹89.25 per kg (down by 0.51), according to market sources. The new pricing of polyester raw materials will take effect from the coming Saturday.
The company determines the prices of polyester raw materials by reviewing price trends in China and fluctuations in crude oil. As a dominant player in the country, the Indian market tends to follow Reliance’s pricing trend.
Fibre2Fashion News Desk (KUL)