Bulk price of MIBK (Methyl Isobutyl Ketone) in Mumbai market have been on a downward trend since the beginning of July, 2014. The bulk price Ex-Mumbai reached highs of Rs. 139 per kg before declining to current incoming price to Rs. 124 per kg. The prices moved on account of plug in previous short supply position.
In addition to this, its important to add that recently the booking price has declined by $20 pe metric tonne to $1,760 per metric tonne CIF India, according to sources. But, this isn't the sole reason pushing down the bulk prices of MIBK, most traders cite weak demand from non substitute industry (especially specialized paint) to be the main reason for the price decline.
"Most importers declined the bulk price by Rs. 10-12 per kg since last week as weak demand plagues the MIBK market. Particularly, the demand from specialized paint industry is low off late due to the onset of monsoon", a prominent Mumbai based trader informed the website.
Indianpetrochem surveys from market participants that the demand should most likely gain moment by first week of August, this might also instigate the prices to move northwards.
(This article was published on the website on July 23, 2014)
In addition to this, its important to add that recently the booking price has declined by $20 pe metric tonne to $1,760 per metric tonne CIF India, according to sources. But, this isn't the sole reason pushing down the bulk prices of MIBK, most traders cite weak demand from non substitute industry (especially specialized paint) to be the main reason for the price decline.
"Most importers declined the bulk price by Rs. 10-12 per kg since last week as weak demand plagues the MIBK market. Particularly, the demand from specialized paint industry is low off late due to the onset of monsoon", a prominent Mumbai based trader informed the website.
Indianpetrochem surveys from market participants that the demand should most likely gain moment by first week of August, this might also instigate the prices to move northwards.
(This article was published on the website on July 23, 2014)
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