India's RIL reverses gear; prices of PTA, MELT down, MEG unchanged

21 Jul '23

2 min read

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Insights

Reliance Industries Limited (RIL) has cut prices of purified terephthalic acid (PTA) and MELT for the coming week, while monoethylene glycol (MEG) prices remain unchanged.
New prices are: PTA ₹85.50/kg (down ₹0.50), MEG ₹50.10/kg (unchanged), and MELT ₹90.56/kg (down ₹0.44).
However, polyester staple fibre prices have risen by ₹2 to ₹104/kg.

Reliance Industries Limited (RIL), India’s largest player in polyester value chain, has reversed the trend in pricing of raw materials of polyester staple fibre after steep rise in the recent past. The company slashed prices of purified terephthalic acid (PTA) and MELT for the coming week, but the prices of monoethylene glycol (MEG) were kept unchanged.

Last week, RIL had increased prices of PTA and MELT, and had kept MEG prices unchanged.

According to the market sources, RIL has fixed prices as: PTA ₹85.50 per kg (decrease ₹0.50), MEG at ₹50.10 per kg (unchanged) and MELT ₹90.56 per kg (decrease ₹0.44). The pricing of polyester raw materials will come into effect from the coming Saturday.

For the current fortnight, the company had increased prices of polyester staple fibre (PSF) by ₹2 to ₹104 per kg.

RIL reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials. Indian market follows the price trend of RIL as it is the dominating player in the country. It was heard in some quarters of the industry that RIL had increased prices of PTA and MELT last week, after the implementation of Quality Control Order (QCO) which restricted imported supply in the country.

Fibre2Fashion News Desk (KUL)

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