The lowering in sea fare and cheaper crude oil led to the price cut. RIL reviews global market conditions, price trend in China, and fluctuation in crude oil prices to determine prices of polyester raw materials.
Reliance, India’s largest player in the polyester value chain, has decreased prices of monoethylene glycol (MEG) and MELT, with effect from Saturday, October 1. But the price of purified terephthalic acid (PTA) has been kept unchanged. Earlier in the day, the price of polyester staple fibre (PSF) was revised downward by ₹3 per kg to ₹107 per kg.
According to the market sources, RIL fixed PTA price at ₹84.10 per kg (unchanged), MEG at ₹56.00 per kg (-0.60) and MELT ₹91.37 per kg (-0.20).
Fibre2Fashion News Desk (KUL)