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India's Reliance raises prices of PTA & MELT; MEG unchanged

01 Sep '23
1 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • Reliance Industries Limited, India's largest participant in the polyester value chain, has adjusted its pricing strategy for the month of September.
  • The company increased the prices of PTA and MELT but left MEG prices unchanged.
  • The new pricing, influenced by trends in China and crude oil fluctuations, will be effective from the coming Saturday.
Reliance Industries Limited (RIL), India's largest player in the polyester value chain, has increased the prices of purified terephthalic acid (PTA) and MELT, while keeping the prices of monoethylene glycol (MEG) unchanged. Last week, the company had reduced the prices of PTA and MELT but maintained MEG prices. 

According to market sources, RIL has set the prices as PTA at ₹86.90 per kg (an increase of ₹0.70), MEG at ₹51.70 per kg (unchanged), and MELT at ₹91.31 per kg (an increase of ₹0.60). These new prices will take effect from the coming Saturday. 

RIL has kept PSF prices unchanged at ₹107 per kg for the first fortnight of September 2023. 

RIL's pricing strategy for polyester raw materials involves reviewing price trends in China and fluctuations in crude oil prices. Due to its dominant position within India, the local market typically follows the price trends set by Reliance. 

ALCHEMPro News Desk (KUL)
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