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

14 Jul '23
1 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • RIL, India's top polyester player, continues to raise the prices of purified terephthalic acid (PTA) and MELT, while keeping monoethylene glycol (MEG) prices stable.
  • Prices are set based on Chinese trends and crude oil fluctuations.
  • The new rates, PTA at ₹86.00/kg, MEG at ₹48.20/kg, and MELT at ₹90.35/kg, will be effective from the upcoming Saturday.
Reliance Industries Limited (RIL), India's leading player in the polyester value chain, continues to raise the prices of purified terephthalic acid (PTA) and MELT for the upcoming week, while the prices of monoethylene glycol (MEG) remain unchanged. This is consistent with the company's actions from the previous week when it also raised PTA and MELT prices but did not alter MEG prices. 

As per market sources, RIL has set the prices of PTA at ₹86.00 per kg (an increase of ₹2.50), MEG at ₹48.20 per kg (no change), and MELT at ₹90.35 per kg (an increase of ₹2.15). The new pricing for polyester raw materials will be effective starting the upcoming Saturday. 

For the first half of July 2023, the company has kept the prices of polyester staple fibre (PSF) unchanged at ₹102 per kg. 

RIL uses pricing trends in China and crude oil fluctuations as determinants for setting the prices of polyester raw materials. Due to its dominant position, the Indian market typically follows the pricing trends set by Reliance. 

ALCHEMPro News Desk (KUL)
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