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India's RIL keeps prices of PTA, MELT & MEG stable after steep rise

22 Sep '23
1 min read
Pic: Shutterstock.com
Pic: Shutterstock.com

Insights

  • Reliance Industries Ltd in India has kept prices of key polyester raw materials unchanged.
  • RIL's pricing strategy follows trends in China and crude oil, and its dominant market position often influences pricing across India.
  • Earlier this fortnight, the company had also increased PSF prices.
  • The prices will be effective from the coming Saturday.
Reliance Industries Limited (RIL), India's dominant player in the polyester value chain, has maintained the prices of key raw materials including purified terephthalic acid (PTA), monoethylene glycol (MEG), and MELT. This decision follows a significant price hike last week, where the company increased the costs of these raw materials by ₹2.10-2.73 per kilogram. 

According to market sources, the company has retained the prices as PTA at ₹90.20 per kilogram, MEG at ₹54.40 per kilogram, and MELT at ₹96.07 per kilogram. These prices will take effect from the coming Saturday. 

Earlier this fortnight, the company had also raised PSF prices from ₹108 to ₹111 per kg, after increasing it by ₹1 per kg in the middle of last fortnight. 

RIL's pricing strategy typically involves monitoring price trends in China and crude oil fluctuations. Due to its influential position, the Indian market often follows the pricing lead set by Reliance. Traders suggest that the company's dominant market standing enables it to adjust prices significantly. 

ALCHEMPro News Desk (KUL)
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