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India's RIL further increases prices of PTA & MELT; MEG unchanged

07 Jul '23
2 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • RIL has increased prices for purified terephthalic acid (PTA) and MELT, while keeping monoethylene glycol (MEG) prices stable.
  • The changes reflect trends in the Chinese market and fluctuations in crude oil prices.
  • The new prices, including a roll-over of polyester staple fibre (PSF) prices at ₹102 per kg, will take effect from the upcoming Saturday.
Reliance Industries Limited (RIL), India's dominant player in the polyester value chain, has announced further price increases for purified terephthalic acid (PTA) and MELT for the upcoming week. However, the prices for monoethylene glycol (MEG) will remain unchanged. Last week, the company had raised the prices of PTA and MELT, while simultaneously slashing the prices of MEG. It has also rolled over the prices of PSF, keeping them at ₹102 per kg for the first fortnight of July. 

According to the market sources, RIL has fixed the prices at ₹83.40 per kg for PTA (an increase of ₹0.90), ₹48.20 per kg for MEG (unchanged), and ₹88.11 per kg for MELT (an increase of ₹0.77). These new pricing arrangements for polyester raw materials will take effect from the coming Saturday. 

For the first fortnight of July 2023, the company will maintain the price of polyester staple fibre (PSF) at ₹102 per kg. 

RIL's strategy for pricing polyester raw materials involves reviewing price trends in China and the fluctuation of crude oil. The recent decline in crude oil prices has prompted the petrochemical industry, and particularly RIL, to follow this trend. The Indian market typically follows the price trend set by Reliance due to its dominant position within the country. 

ALCHEMPro News Desk (KUL)
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