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Friday, March 1, 2024

India’s RIL cuts prices of PTA & MELT; MEG unchanged

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Reliance Industries Limited (RIL), India’s largest player in the polyester value chain, decreased the prices of purified terephthalic acid (PTA) and MELT for the current week. But the rates of monoethylene glycol (MEG) have been kept unchanged. This comes after the company maintained the same prices for the last week. Additionally, the price of polyester staple fibre (PSF) has remained the same as the previous fortnight. 

According to market sources, RIL has set the prices of PTA at ₹81.20 per kg (a decrease of ₹0.50), MEG at ₹57.10 per kg (unchanged), and MELT at ₹89.04 per kg (a decrease of ₹0.43). The pricing of these polyester raw materials became effective last Saturday. The recent fall in crude oil prices has caused a drop in polyester raw material prices. 

RIL has decreased the prices of PTA and MELT for the current week, while keeping the rates of MEG unchanged. The price of PSF has also remained the same as the previous fortnight. The recent fall in crude oil prices has caused a drop in prices. RIL reviews price trends in China and fluctuations in crude oil to fix the prices of its polyester raw materials.

At the beginning of this fortnight, RIL maintained the price of PSF at ₹106 per kg. 

RIL determines the prices of its polyester raw materials by reviewing the price trends in China and fluctuations in crude oil. The Indian market usually follows RIL’s price trend as it is a dominant player in the country’s market. 

Fibre2Fashion News Desk (KUL)


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