Reliance, India’s largest player in the polyester value chain, has decreased prices of monoethylene glycol (MEG) and MELT, with effect from, 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 Rs. 3 per kg to Rs. 107 per kg.
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.
According to the market sources, RIL fixed PTA price at Rs. 84.10 per kg (unchanged), MEG at Rs. 56.00 per kg (-0.60) and MELT Rs. 91.37 per kg (-0.20).
