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

25 Aug '23
1 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • RIL has lowered the prices of purified terephthalic acid (PTA) and MELT but kept monoethylene glycol (MEG) prices the same.
  • The new pricing comes after adjustments last week and will take effect from the coming Saturday.
  • RIL's pricing strategy involves monitoring trends in China and crude oil fluctuations.
  • It also kept PSF prices stable at ₹107 per kg.
Reliance Industries Limited (RIL), India's leading company in the polyester value chain, has decreased the prices of purified terephthalic acid (PTA) and MELT, but has left the prices of monoethylene glycol (MEG) unchanged. This decision follows last week's action, when the company had raised the prices of MEG and MELT while keeping PTA prices stable. 

According to the market sources, RIL fixed prices as PTA ₹86.20 per kg (decrease ₹0.50), MEG at ₹52.20 per kg (unchanged) and MELT ₹91.88 per kg (decreased ₹0.43). The pricing of polyester raw materials will come into effect from coming Saturday. 

RIL has maintained the polyester staple fibre (PSF) prices at ₹107 per kg for this week. Previously, it had elevated the prices twice by ₹3 per kg within the last fortnight. Market sources say that the lowering of PSF prices and its raw materials in China has also influenced the pricing in India. 

RIL's strategy in pricing polyester raw materials involves a close examination of price trends in China and the fluctuation of crude oil. The Indian market typically mirrors the price trend set by Reliance, due to its prominent position within the country. 

ALCHEMPro News Desk (KUL)
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