Reliance Industries Limited (RIL), India’s largest player in polyester value chain, has increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. Last week, RIL had hiked prices of PTA and MELT, but cut price of MEG. The company reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials.
Indian market follows the price trend of Reliance as it is the dominating player in the country. According to the market sources, RIL fixed PTA price at ₹79.70 per kg (+1.10), MEG at ₹55.90 per kg (+0.40) and MELT ₹87.55 per kg (+1.09). New pricing of polyester raw materials will come into effect from December 31, 2022.
Reliance Industries Limited (RIL), India's largest player in polyester value chain, has increased prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. Last week, RIL had hiked prices of PTA and MELT, but cut price of MEG. The company reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials.
In the beginning of the current fortnight, RIL had cut price of polyester stable fibre (PSF) by ₹3 per kg to ₹99 per kg. But the company may reverse this trend because of uptrend in price of upstream raw materials. The company will review prices probably on Saturday for first fortnight of the new year 2023.
Fibre2Fashion News Desk (KUL)
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