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India's Reliance Industries decreases prices of PTA, MEG & MELT
23 Sep '22
1 min read
Pic: Shutterstock.com
Reliance Industries Limited (RIL), India’s largest player in polyester value chain, has lowered prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. According to trade sources, drop in prices of polyester raw materials were due to dip in sea freight charges and cheaper crude oil. Last week, RIL had raised prices of MEG and MELT.
According to the market sources, RIL fixed PTA price at ₹84.10 per kg (-1.50), MEG at ₹56.60 per kg (-0.80) and MELT ₹91.57 per kg (-1.56). New pricing of polyester raw materials will come into effect from the coming Saturday, i.e., September 24, 2022.
In the beginning of second fortnight of this month, the company had decreased the price of polyester spun fibre (PSF) by ₹3 per kg to ₹110 per kg from the previous price of ₹113 per kg.
The market takes cue from the prices of RIL. The company reviews global market conditions, price trend in China and fluctuation in crude oil prices to determine prices of polyester raw materials.
Fibre2Fashion News Desk (KUL)
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