POY, Cotton, Crude Oil, Gold & Silver Rates

How to read the table

Each row shows one item, its latest rate and the date that rate applies from. For the polyester and cotton rates the date is written "w.e.f." (with effect from), because a rate stays in force until the next one is entered. For Brent, WTI and USD / INR the date is written "as of", because those are the prices recorded on that day.

The columns 1D, 1W, 1M, 3M, 6M and 1Y show the change from that long ago, as a percentage. A ▲ means the rate is higher than it was then, and a ▼ means it is lower. A "=" with 0% means no change.

On a phone, pick one period at a time with the buttons above the table.

A dash (–) means there is no rate that far back. On weekends and holidays the most recent earlier rate is used.

Where the rates come from

Polyester rates (POY, DTY and PSF) come from producers' published price lists and trade reports. Cotton rates come from CCI sale results and MCX closing prices.

Brent and WTI crude oil prices come from the U.S. Energy Information Administration (EIA), which releases them weekly, usually on a Wednesday. That is why the latest crude price can be a few days old.

Gold, silver, the Cotton A Index and natural rubber come from the World Bank's monthly commodity price data (The Pink Sheet). They are averages for a whole month in US dollars, shown with a rupee estimate: gold per 10 grams, silver per kilogram, cotton per candy (356 kg) and rubber per kilogram. They are updated once a month, a few days after the month ends.

USD / INR is worked out from the euro reference rates published by the European Central Bank (ECB). It divides INR per euro by USD per euro. The ECB publishes on working days only, at around 5:45 pm IST, and describes its reference rates as being for information purposes only.

The server checks for new crude and USD / INR data twice a day, at about 7:00 am and 7:30 pm IST. If the server has not been able to fetch a crude oil or USD / INR update for more than 7 days, that row shows "Not updated since" followed by the date of the latest price it holds, so you know the number may be old.

POY, DTY and PSF

POY is partially oriented yarn, the first stage of polyester filament yarn. DTY is draw-textured yarn, made by drawing and texturing POY into the bulky yarn used in knitting and weaving. PSF is polyester staple fibre, which is cut fibre that is spun into yarn, often blended with cotton. All three rates on this page are shown per kg.

A grade such as 150/48 SD reads as denier / number of filaments, followed by the lustre. So 150/48 SD is a 150 denier yarn made of 48 filaments, and SD means semi-dull.

Producers' list prices are influenced by the cost of the raw materials PTA and MEG, which in turn follow crude oil, and by the demand from weavers and knitters. The page records the rates as published and does not predict them.

Cotton: CCI and MCX

Cotton in India is quoted per candy, and one candy is 356 kg. The CCI rate is the price from sales held by the Cotton Corporation of India. Its prices differ by centre and staple length.

The MCX rate is the closing price of the cotton candy futures contract on the Multi Commodity Exchange. Futures prices are for a chosen contract month. A spot price is for delivery now.

The Cotton A Index is a world benchmark: an average of prices offered for cotton delivered to ports in the Far East, in US dollars per kg. The page also shows it in rupees per candy, at that month's average exchange rate, so you can compare it with Indian rates. Indian prices differ because of quality, freight and import duty.

Crude oil and the rupee

Brent and WTI are the two best-known crude oil benchmarks, quoted in US dollars per barrel. Each is a reference price that other crude oil prices are compared with.

Next to each dollar price the table shows an approximate rupee value. It is the dollar price multiplied by the USD / INR rate of the same date, or the latest earlier date for which an ECB rate exists.

This matters for polyester because PTA and MEG are made from crude oil products and are traded or imported at dollar-linked prices. Crude oil and the rupee therefore both influence the raw-material cost behind polyester yarn and fibre.

Why Brent drives polyester prices in India

Brent crude, not WTI, is the benchmark behind Indian prices of POY, FDY (fully drawn yarn) and PSF.

India imports more than 85% of the crude oil it uses. Indian refiners and petrochemical makers such as Reliance Industries, IOCL and BPCL price the crude they import against Brent, or against the Dubai and Oman benchmarks, which move closely with Brent.

Polyester is made from two raw materials, PTA and MEG, and both come from crude oil:

Brent crude → naphtha → paraxylene (PX) → PTA → POY / FDY / PSF

Brent crude → naphtha → ethylene → MEG → POY / FDY / PSF

Asian prices for naphtha, PX, PTA and MEG, as reported by price agencies such as Platts and ICIS (FOB Singapore, CFR China and CFR India), follow seaborne crude prices, which are linked to Brent.

Large Indian producers such as Reliance usually revise their POY, PSF, PTA and MEG prices once a week. They look at the change in Asian raw-material prices and in the USD / INR rate, and both of these follow Brent, not WTI.

What about WTI?

West Texas Intermediate (WTI) is a North American benchmark for crude delivered by pipeline at Cushing, Oklahoma, in the USA. It reflects US pipeline and shale oil supply.

The crude oil futures on India's MCX have long followed WTI prices. Even so, the physical raw materials for polyester yarn and fibre in India and the rest of Asia follow Brent. This page shows both, but Brent is the one that matters for polyester.

Worked example: what a $5 move in Brent means for POY

This is a rough way to estimate how a $5 per barrel change in Brent reaches the price of POY. The figures are typical rules of thumb, not exact market data.

1. Crude to naphtha: one barrel of crude weighs about 0.136 tonne, so $5 per barrel is about $37 per tonne. Asian naphtha prices usually move by about $35 to $42 per tonne.
2. Naphtha to PTA: PTA is made from paraxylene (PX), and about 0.65 tonne of PX goes into each tonne of PTA. A $40 per tonne move in naphtha usually moves Asian PTA by about $20 to $28 per tonne.
3. Naphtha to MEG: MEG is made from ethylene. The same naphtha move usually moves Asian MEG by about $15 to $22 per tonne.
4. PTA and MEG to POY: each kg of POY uses about 0.86 kg of PTA and 0.34 kg of MEG.

Raw-material cost per kg of POY ≈ (0.86 × PTA price per kg) + (0.34 × MEG price per kg)

The two inputs add up to 1.20 kg. The extra 0.20 kg leaves as water while the polymer is made.

At about ₹95 to the US dollar: $0.0267 × 95 ≈ ₹2.54 per kg. Across the full ranges above, the effect is about ₹2.10 to ₹3.00 per kg of POY, if the rupee stays steady. A fall in Brent works the same way in reverse.

What else changes the weekly POY price

• Producer margins: when weavers and texturisers are running slowly, producers often absorb ₹0.50 to ₹1.00 per kg of a cost increase to keep stock moving. When yarn is in short supply, they can pass on the full increase, or more.
• The rupee: a ₹1 fall in the rupee against the US dollar adds about ₹0.80 to ₹1.00 per kg to the landed raw-material cost, even when crude oil does not move.
• Time lag: a change in crude usually shows up in Asian PTA and MEG prices within 5 to 7 days, and then in Indian list prices the following week.

These are estimates to help you understand price changes. Each producer sets its own list price.

Terms used on this page

• w.e.f.: with effect from, the date a rate starts to apply.
• Spot price: the price for delivery now.
• Futures: a contract to deliver at an agreed price in a later month.
• Candy: the Indian cotton unit of 356 kg.
• Cotton A Index: a world cotton price benchmark, the average of offered prices for cotton delivered to Far East ports.
• RSS3 (ribbed smoked sheet No. 3): a grade of natural rubber sheet, used as an Asian price benchmark.
• Denier: the thickness of a yarn. A higher denier means a thicker yarn.
• Filament: one continuous strand of fibre. A yarn is made of many filaments.
• SD (semi-dull): a yarn with a medium lustre.
• PTA: purified terephthalic acid, a main raw material of polyester.
• MEG: monoethylene glycol, the other main raw material of polyester.
• FDY: fully drawn yarn, a polyester filament yarn that is fully drawn when it is spun.
• Naphtha: a light oil made from crude, the starting point for PX and ethylene.
• PX (paraxylene): the raw material that PTA is made from.
• FOB and CFR: FOB (free on board) is the price at the port of loading. CFR (cost and freight) includes freight to the buyer's port.
• Reference rate: an exchange rate published once a day for information, not a rate at which you can trade.

For information only. Not trading or investment advice. Confirm rates with your supplier before placing an order.