Reliance Hikes Pta Prices

Price of mono ethylene glycol (MEG) has also been hiked by Rs 2,500, from Rs 25,500 per tonne to Rs 28,000 per tonne.

Industry sources said the hike was caused by a sharp jump in international PTA prices from less than $550 per tonne to around $580 per tonne.

Reliance's outside sales of PTA has dropped from around 5,000 tonne to 2,000 tonne per month, following rise in in-house consumption. The 1.6 lakh-tonne new polyester staple fibre plant of Reliance is coming on stream in two phases. The first phase of the 80,000-tonne plant is expected to be commissioned this month. Out of the planned capacity of 1.2 lakh tonne of partially oriented yarn, 60,000 tonne have already been launched.