India's RIL slashes prices of POY; maintains PSF prices

02 May '23

2 min read

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Insights

Reliance Industries Limited (RIL) has maintained prices for PSF and decreased prices for POY in the first fortnight of May 2023.
RIL also lowered prices for PTA and MELT but kept MEG unchanged.
RIL reviews prices based on trends in China and crude oil fluctuations, with prices of raw materials reviewed weekly and those of PSF and POY revised fortnightly.

Reliance Industries Limited (RIL), the largest player in India's polyester value chain, has maintained the prices of polyester staple fibre (PSF) for the first fortnight of the current month. However, the company has reduced the prices of partially oriented yarn (POY) by ₹1-2 per kg.

In addition, RIL has decreased prices for purified terephthalic acid (PTA) and MELT for the current week but kept the prices of monoethylene glycol (MEG) unchanged.

According to market sources, RIL has kept the prices of PSF of 1.4 denier at ₹110 per kg (GST extra). Meanwhile, pieces of PSF of 1.2 denier and 1.0 denier has been maintained at ₹110.75 and ₹111.50 per kg, respectively. The company has reduced prices for POY by ₹2 per kg for fine deniers and ₹1 per kg for coarse deniers across the lustres. These new prices became effective on May 1, 2023.

Reliance reviews the price trend in China and the fluctuations in prices of crude oil to determine the prices of PSF and other related products. Previously, the company set the prices of PTA at ₹87.20 per kg (a decrease of ₹2.50), MEG at ₹53.00 per kg (unchanged), and MELT at ₹93.02 per kg (a decrease of ₹2.15). These prices for polyester raw materials were effective from Saturday.

Reliance reviews the prices of raw materials of polyester on a weekly basis but revises the prices of PSF and POY on a fortnightly basis.

Fibre2Fashion News Desk (KUL)

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