Reliance Industries Limited (RIL), the largest player in India's polyester value chain, has decided to maintain prices of purified terephthalic acid (PTA), monoethylene glycol (MEG), and MELT for the upcoming week. However, the company has raised the prices of polyester staple fibre (PSF) by ₹2 to ₹110 per kg for the current fortnight. The prices of PTA and MELT were increased by the company for the week beginning on April 8, 2023, while MEG was kept stable. Market sources suggest that the prices of PTA remain at ₹89.70 per kg, MEG at ₹53 per kg, and MELT at ₹95.16 per kg. The pricing of polyester raw materials will come into effect from the coming Saturday.
Reliance Industries Limited (RIL) will maintain the prices of PTA, MEG and MELT for the coming week. However, RIL has increased the prices of PSF by ₹2 to ₹110 per kg for the current fortnight. RIL reviews the price trends in China and crude oil fluctuations to fix the prices of polyester raw materials. The Indian market follows RIL's pricing trend.
Recent fall in crude oil prices and price trends in China prompted the company to maintain the prices of raw material. RIL reviews the price trend in China and crude oil fluctuations to fix the prices of polyester raw materials. As RIL is the dominating player, the Indian market follows its price trend.
Fibre2Fashion News Desk (KUL)
