Mumbai market witnessed strong price movements for Methyl Methacrylate, Phenol, Acetone, Acetonitrile and Aniline based on various market dynamics. Indianpetrochem summarises the market movement for these chemicals and evaluates the reasons for price fluctuations, based on various market sources.
The price of Methyl Methacrylate were at Rs. 170 per kg in the beginning of the week, thereafter the prices moved by few rupees in the middle of the week and closed back at Rs. 170 per kg at the end of the week. The price fluctuation during the week was due to import port price fluctuations from Singapore.
Indian has no manufacturing capacity for MMA as such it is completely dependent on imports to fulfill its demand. MMA is mainly imported from Taiwan, Singapore and Korea to Mumbai port.
Phenol and Acetone prices were bullish this week backed on strong demand. The prices of the chemicals also increased because of delay in some import shipments by 7 days, which impacted the supply in the market. At this point its important to take note of the fact that domestic supplies have been constrained due to HOCL's and Haldia's plant shut down for Phenol and Acetone, respectively. Phenol was selling at Rs. 121 per liter at the beginning of the week and closed at Rs. 125 per liter at the end of this week. Similar price trend was noted for Acetone, where it closed higher by Rs. 2 per liter at the end of the week to levels of Rs. 97 per liter.
Interesting price movement was noted for Acetonitrile in Mumbai market due to limited domestic supplies and ample imports for the chemical within the country. Acetonitrile was selling at Rs. 210 per liter at the beginning of the week and the prices dropped daily to levels of Rs.197 per liter by the end of this week. Main reasons for this price fluctuations was due to port price variations for the chemicals from China, Taiwan and Japan. As such, the prices in Mumbai varies based on the price differential between the chemicals sourced from these locations to India.
Aniline prices have gained momentum by 2% this weak because of limited supplies from Indian refineries and ample imports. The price increased by Rs. 3- 4 per kg this week due to import price fluctuations for the chemical.
Otherwise, the price of 2-Ethylhexanol, Cyclohexanone, Dioctyl Phthalate, Formaldehyde, etc. moved by few rupees in Mumbai based on normal market momentum.
Note:- These prices are warehouses prices, which are market prices for retailers (traders) in the market. Also, all prices mentioned in this story are exclusive of VAT and excise duty.
By Ntasha Berry
ntasha.berry@indianpetro.com
The price of Methyl Methacrylate were at Rs. 170 per kg in the beginning of the week, thereafter the prices moved by few rupees in the middle of the week and closed back at Rs. 170 per kg at the end of the week. The price fluctuation during the week was due to import port price fluctuations from Singapore.
Indian has no manufacturing capacity for MMA as such it is completely dependent on imports to fulfill its demand. MMA is mainly imported from Taiwan, Singapore and Korea to Mumbai port.
Phenol and Acetone prices were bullish this week backed on strong demand. The prices of the chemicals also increased because of delay in some import shipments by 7 days, which impacted the supply in the market. At this point its important to take note of the fact that domestic supplies have been constrained due to HOCL's and Haldia's plant shut down for Phenol and Acetone, respectively. Phenol was selling at Rs. 121 per liter at the beginning of the week and closed at Rs. 125 per liter at the end of this week. Similar price trend was noted for Acetone, where it closed higher by Rs. 2 per liter at the end of the week to levels of Rs. 97 per liter.
Interesting price movement was noted for Acetonitrile in Mumbai market due to limited domestic supplies and ample imports for the chemical within the country. Acetonitrile was selling at Rs. 210 per liter at the beginning of the week and the prices dropped daily to levels of Rs.197 per liter by the end of this week. Main reasons for this price fluctuations was due to port price variations for the chemicals from China, Taiwan and Japan. As such, the prices in Mumbai varies based on the price differential between the chemicals sourced from these locations to India.
Aniline prices have gained momentum by 2% this weak because of limited supplies from Indian refineries and ample imports. The price increased by Rs. 3- 4 per kg this week due to import price fluctuations for the chemical.
Otherwise, the price of 2-Ethylhexanol, Cyclohexanone, Dioctyl Phthalate, Formaldehyde, etc. moved by few rupees in Mumbai based on normal market momentum.
Note:- These prices are warehouses prices, which are market prices for retailers (traders) in the market. Also, all prices mentioned in this story are exclusive of VAT and excise duty.
By Ntasha Berry
ntasha.berry@indianpetro.com
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