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India's RIL further hikes prices of PTA, MEG & MELT, PSF to follow
29 Jul '22
1 min read
Pic: 123rf.com
Reliance Industries Limited (RIL) has further increased the price of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT for the coming week. RIL is the largest manufacturer of PSF and its raw materials PTA, MEG and MELT in India, so the market follows its prices. The prices are also influenced by fluctuation in the Chinese market.
According to the market sources, RIL has increased PTA price by ₹2.50 per kg to ₹88.10 per kg. The price of MEG has increased to ₹56 per kg with hike of ₹0.40 per kg. MELT’s price has gone up to ₹94.91 per kg with increase of ₹2.29 per kg. The company has revised prices with effective from July 30, 2022.
It is believed that the prices of raw materials of polyester increased due to stronger US dollar against the rupee and higher freight charges. Brent crude was traded at $79.74 per barrel in international market. RIL will revise price of Polyester Spun Fibre (PSF) in the beginning of August. It had earlier decreased the price of PSF by ₹7 to ₹120 per kg. The company revises PSF prices fortnightly.
Fibre2Fashion News Desk (KUL)
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