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India's Reliance Industries reduces prices of PTA, MEG & MELT
14 Oct '22
1 min read
Pic: Shutterstock.com
Reliance Industries Ltd, India’s largest player in polyester value chain, has decreased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. It had increased prices of PTA, MEG and MELT last week. Earlier, the company had decreased the prices of polyester staple fibre (PSF) by ₹3 per kg to ₹107 per kg for the current fortnight.
The Indian 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.
According to the market sources, RIL fixed PTA price at ₹86 per kg (-1.80), MEG at ₹55.70 per kg (-0.50) and MELT ₹92.90 per kg (-1.72). New pricing of polyester raw materials will come into effect from Saturday, October 15. RIL reviews prices of PSF every fortnight, and is expected to soon revise the prices for the coming fortnight.
Fibre2Fashion News Desk (KUL)
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