News Flash

India's RIL reduces prices of PSF, PTA & MELT; MEG unchanged

13 May '23

2 min read

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Insights

Reliance Industries Limited (RIL), India's major player in the polyester industry, has lowered prices of PTA and MELT, while keeping MEG prices unchanged.
Additionally, RIL reduced prices of polyester staple fibre (PSF) by ₹4 to ₹106 per kg, citing cheaper crude oil and a decline in recycled polyester fibre prices as reasons for the reduction.

Reliance Industries Limited (RIL), the leading player in India's polyester value chain, has announced a reduction in prices for purified terephthalic acid (PTA) and monoethylene glycol (MEG) for the upcoming week. However, prices for monoethylene glycol (MEG) will remain unchanged.

RIL regularly reviews the price trend in China and fluctuations in crude oil prices to determine the pricing of polyester raw materials. The Indian market closely follows RIL's price trend as the company holds a dominant position in the country.

According to market sources, RIL has set the prices of PTA at ₹83.40 per kg, marking a decrease of ₹0.50, while MEG will be priced at ₹52.10 per kg, with no change from the previous week. The price of MELT has been fixed at ₹89.44 per kg, reflecting a decrease of ₹0.43. RIL has been consistently reducing the prices of PTA and MELT to align domestic prices with the global market trend.

Additionally, RIL has also reduced the prices of polyester staple fibre (PSF) by ₹4, bringing it down to ₹106 per kg for the next fortnight. In the previous period, the company had maintained the price of PSF at ₹110 per kg. The decision to lower PSF prices was influenced by the availability of cheaper crude oil and a significant decline in the prices of recycled polyester fibre.

Fibre2Fashion News Desk (KUL)

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