India's RIL increases prices of PTA and MELT, slashes MEG rates

30 Jun '23

1 min read

Pic: Shutterstock.com

Insights

Reliance Industries Limited (RIL), India's major polyester player, has raised the prices of PTA and MELT, but lowered MEG prices for the next week.
RIL decides prices based on trend in China and the fluctuation in crude oil prices.
The new pricing takes effect from July 1.
PSF prices remain unchanged at ₹102/kg for the first half of July.

Reliance Industries Limited (RIL), India’s largest player in polyester value chain, has increased prices of purified terephthalic acid (PTA) and MELT for the coming week. But it has reduced the prices of monoethylene glycol (MEG). Last week, the company had decreased prices of PTA and MELT and maintained MEG prices. It has rolled over prices of PSF at ₹102 per kg for the first fortnight of July.

RIL reviews price trend in China and fluctuation in crude oil to fix prices of polyester raw materials. Recent decline in crude oil prices motivated the petrochemical industry and RIL, in particular, to follow the trend. Indian market follows the price trend of Reliance as it is the dominating player in the country.

According to the market sources, RIL fixed prices as: PTA ₹82.40 per kg (increase of ₹0.80), MEG at ₹48.20 per kg (decrease of ₹0.70) and MELT ₹87.25 per kg (increase of ₹0.45). The pricing of polyester raw materials will come into effect from July 1.

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

ALCHEMPro News Desk (KUL)

More Textiles News - India...