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India’s Reliance Industries cuts prices for PTA, MEG and MELT

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Reliance Industries Limited (RIL), India’s largest player in the polyester value chain, has cut prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. According to trade sources, the drop in prices for polyester raw materials was due to a decrease in the cost of sea transportation and a decrease in the price of crude oil. Last week, RIL raised the prices of MEG and MELT.

According to market sources, RIL fixed PTA at INR 84.10 per kg (-1.50), MEG at INR 56.60 per kg (-0.80) and MELT at INR 91.57 per kg. (-1.56). The new prices for polyester raw materials will be effective from next Saturday, that is, September 24, 2022.

Reliance Industries Limited (RIL), India’s largest player in the polyester value chain, has cut prices of purified terephthalic acid (PTA), monoethylene glycol (MEG) and MELT. According to trade sources, the drop in prices for polyester raw materials was due to a decrease in the cost of sea transportation and a decrease in the price of crude oil. Last week, RIL raised the prices of MEG and MELT.

In the beginning of the second fortnight of this month, the company cut its polyester spun fiber (PSF) price by ₹3 per kg to ₹110 per kg from the previous price of ₹113 per kg.

The market is taking a cue from RIL’s prices. The company analyzes global market conditions, price trends in China and fluctuations in crude oil prices to determine polyester feedstock prices.

Fibre2Fashion News Desk (KUL)


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