Reliance Industries Limited (RIL), India’s leading entity in the polyester value chain, has announced a price reduction for purified terephthalic acid (PTA) and MELT for the upcoming week. However, the prices for monoethylene glycol (MEG) remain unchanged. Just last week, RIL had raised the prices for PTA and MELT, while MEG prices were kept steady. Earlier in the fortnight, prices were held at Rs. 102 per kg.
RIL sets the pricing for polyester raw materials based on price trends in China and fluctuations in crude oil prices. A recent drop in crude oil prices has prompted the petrochemical industry, and particularly RIL, to follow suit. The Indian market generally aligns with Reliance’s price trends due to its dominant position in the country.
According to market sources, RIL has set the prices as PTA at Rs. 81.60 per kg (a decrease of Rs. 0.50), MEG at Rs. 48.90 per kg (unchanged), and MELT at Rs. 86.80 per kg (a decrease of Rs. 0.43). These new pricing adjustments for polyester raw materials will take effect from this coming week.
At the beginning of this fortnight, RIL had kept the price of polyester staple fibre (PSF) steady at Rs. 102 per kg.
