India's Reliance raises PTA, MELT & MEG prices

15 Sep '23

1 min read

Pic: Shutterstock.com

Insights

Reliance Industries Limited (RIL), the dominant player in India's polyester value chain, has raised the prices of purified terephthalic acid (PTA) and MELT once more.
It also announced an increase in monoethylene glycol (MEG) prices for the upcoming week.
Additionally, the price of polyester staple fibre (PSF) was increased to ₹108 per kg this week.

Reliance Industries Limited (RIL), India’s predominant player in the polyester value chain, has further increased the prices of purified terephthalic acid (PTA) and MELT. Moreover, the company has announced a rise in the prices of monoethylene glycol (MEG) for the upcoming week.

While the firm augmented the prices of PTA and MELT last week, the MEG prices remained unchanged at that time. Midweek, the enterprise also ramped up the price of polyester staple fibre (PSF) by ₹1 per kg, setting it at ₹108 per kg.

Market insiders have disclosed the revised prices fixed by RIL as follows: PTA stands at ₹90.20 per kg, reflecting an increase of ₹2.10; MEG is priced at ₹54.40 per kg, up by ₹2.70; and MELT is now ₹96.07 per kg, with an increase of ₹2.73. These new prices are slated to be effective from the coming Saturday. A review of the PSF pricing was scheduled for late evening today.

RIL's pricing strategy for polyester raw materials is heavily influenced by price trends in China and fluctuations in the global crude oil market. Given RIL's dominant stance in India, the local market generally adheres to the pricing benchmark set by the conglomerate.

Fibre2Fashion News Desk (KUL)

More Textiles News - India...