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

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

Insights

  • Reliance has raised the prices of MEG and MELT, while keeping PTA and PSF prices constant.
  • Last week's changes were reversed in MEG and MELT pricing.
  • RIL's pricing strategy includes reviewing trends in China and crude oil fluctuations.
  • The new prices, with PTA at ₹86.70 per kg, MEG at ₹52.20 per kg, and MELT at ₹92.31 per kg, will be effective from Saturday.
Reliance, India's largest player in the polyester value chain, has increased prices of monoethylene glycol (MEG) and MELT, but it has kept the prices of purified terephthalic acid (PTA) unchanged. Last week, the company increased prices of PTA and MELT but kept MEG prices unchanged. RIL did not change the prices of PSF either. 

According to market sources, RIL fixed the prices as PTA at ₹86.70 per kg (unchanged), MEG at ₹52.20 per kg (an increase of ₹0.40), and MELT at ₹92.31 per kg (increased by ₹0.14). The pricing of polyester raw materials will come into effect from the coming Saturday. 

RIL kept PSF prices unchanged at ₹107 per kg for this week. Earlier, it had increased prices twice by ₹3 per kg within the last fortnight. 

RIL's strategy for pricing polyester raw materials involves reviewing price trends in China and fluctuations in crude oil. 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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