India's RIL slashes prices of PTA & MELT; MEG kept unchanged

28 Apr '23

1 min read

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Insights

Reliance Industries Limited (RIL) has reduced the prices of PTA and MELT and kept MEG price unchanged.
Prices for PSF have been increased by ₹2 to ₹110 per kg for the current fortnight.
The polyester fibre prices may be reviewed at the end of this month.
RIL reviews price trends in China and crude oil prices to set polyester raw material prices.

Reliance Industries Limited (RIL), India's largest player in the polyester value chain, has reduced the prices of purified terephthalic acid (PTA) and MELT for the coming week, but has kept the price of monoethylene glycol (MEG) unchanged. The company kept prices of PTA, MEG, and MELT unchanged in the last week.

According to market sources, RIL has set prices as PTA at ₹87.20 per kg (decreased by ₹2.50), MEG at ₹53.00 per kg (unchanged), and MELT at ₹93.02 per kg (decreased by ₹2.15). The pricing of polyester raw materials will come into effect from Saturday.

The company has increased the prices of polyester staple fibre (PSF) by ₹2 to ₹110 per kg for the current fortnight and may review prices of polyester fibre on the last day of this month.

The recent fall in crude oil prices and price trends in China prompted the company to reduce the prices of raw materials. RIL reviews price trends in China and fluctuations in crude oil prices to set prices of polyester raw materials. The Indian market follows RIL's price trend as it is the dominant player in the country.

Fibre2Fashion News Desk (KUL)

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