Indian market follows the price trend of Reliance as it is a dominating player in the country. According to the market sources, RIL fixed PTA price at ₹81.70 per kg (+0.50), MEG at ₹51.70 per kg (-0.50) and MELT at ₹87.26 per kg (-0.26). New pricing of polyester raw materials will come into effect from Saturday.
Last week, the company continued to cut prices of raw materials of polyester staple fibre (PSF). In the beginning of this month, RIL had cut the price of PSF by ₹2 per kg to ₹105 per kg. It reviews prices of PSF on fortnightly basis, and its upstream raw material on weekly basis. Recently, Indian government had rejected pleas to impose anti-dumping duty on imported MEG, which put additional pressure on domestic manufacturers.
ALCHEMPro News Desk (KUL)
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