India's RIL slashes PTA, MEG, MELT prices; POY, PTY prices up

02 Jun '23

2 min read

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Insights

Reliance Industries Limited, India's leading player in the polyester sector, has cut prices of key materials including purified terephthalic acid (PTA), Monoethylene glycol (MEG), and MELT.
Prices of Polyester Staple Fibre (PSF) have also been reduced.
However, the prices of partially oriented yarn (POY) and polyester textured yarn (PTY) have increased.

Reliance Industries Limited (RIL), India's leading player in the polyester value chain, has announced price cuts for purified terephthalic acid (PTA), monoethylene glycol (MEG), and MELT for the coming week. This move follows last week's hike in the prices of PTA and MELT, while MEG prices remained unchanged. In addition, RIL has reduced the price of polyester staple fibre (PSF) by ₹2, bringing it to ₹102 per kilogram for the current fortnight.

RIL determines its pricing of polyester raw materials by assessing price trends in China and fluctuations in crude oil prices. The Indian market tends to follow Reliance's pricing trends, given its dominant position in the country's polyester industry.

According to the market sources, RIL has set the new prices as PTA at ₹81.00 per kg (a decrease of ₹1.00), MEG at ₹51.60 per kg (a decrease of ₹0.40), and MELT at ₹87.20 per kg (a decrease of ₹1.00). These revised prices will take effect from the coming Saturday. RIL routinely adjusts the prices of PTA, MEG, and MELT to align with global trends.

Earlier this fortnight, the company also lowered the prices of polyester staple fibre (PSF) by ₹2 to ₹102 per kg. However, for the current fortnight, RIL has increased the prices of partially oriented yarn (POY) and polyester textured yarn (PTY) by ₹1.00 per kg.

Fibre2Fashion News Desk (KUL)

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