India's RIL raises PTA & MELT prices, holds PSF steady

16 Jun '23

1 min read

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Insights

RIL, India's largest player in the polyester value chain, has increased the prices of purified terephthalic acid (PTA) and MELT for the upcoming week, while the cost of monoethylene glycol (MEG) remains unchanged.
These prices, which are influenced by market trends in China and crude oil fluctuations, will take effect from the coming Saturday.

Reliance Industries Limited (RIL), the largest contributor to India's polyester value chain, has raised the prices of purified terephthalic acid (PTA) and MELT for the upcoming week. However, the cost of monoethylene glycol (MEG) remains steady. This strategy mirrors that of the previous week. Earlier this fortnight, the company held steady on prices, maintaining them at ₹102 per kg.

RIL uses market trends in China and crude oil price fluctuations to determine the pricing of its polyester raw materials. As a dominant player in India, Reliance's pricing strategy greatly influences the Indian market.

According to the market sources, RIL has set the prices for PTA at ₹82.10 per kg (an increase of ₹0.40), MEG at ₹48.90 per kg (unchanged), and MELT at ₹87.23 per kg (an increase of ₹0.34). These new pricing parameters for polyester raw materials will take effect from the coming Saturday.

Earlier this fortnight, the company had maintained the price of polyester staple fibre (PSF) at ₹102 per kg.

ALCHEMPro News Desk (KUL)

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