Imported DMF in Mumbai

Importers have recently reduced the price of DMF by ₹3/kg, bringing it to ₹64++ per kg for Ex-Mumbai barrels and ₹62++ per kg for Ex-Mumbai ISO tanker loads. Bulk deals were recorded in the range of ₹60.00-61.00++ per kg on a 90-day LC basis for October lifting. Traders and brokers offered prices between ₹64.00-65.00++ per kg for intact barrels Ex-Hazira and Mumbai on 60 days' credit.

Ethanol amine prices increased by 1%, driven by rising downstream demand and feedstock cost hikes. MEA demand remains strong in pharmaceuticals despite reduced Ranitidine use. Ample supply and seasonal demand in agrochemicals and personal care sectors will stabilize the market in the near term.

In the domestic market, Styrene Monomer prices have seen a decline of ₹1/kg, driven by weak trends in upstream crude oil and naphtha markets. The supply remains moderate due to sluggish inventory liquidation and reduced production rates by downstream manufacturers. India's monthly demand for Styrene Monomers is fully reliant on imports, with key sectors including Expanded Polystyrene (EPS) and Styrene-Butadiene Rubber.

The Indian chemical market witnessed price increases in Caustic Soda Flakes and Lye today due to robust demand from downstream industries such as paper and aluminum manufacturing. Supply constraints persist as domestic manufacturers operate at reduced production rates.

The Indian VAM market is experiencing a rebound, with domestic prices climbing due to increased production activity in key downstream sectors like paints and adhesives. Inventories are being liquidated at a faster pace as manufacturers prepare for seasonal demand. Feedstock costs for methanol and acetic acid, key inputs for VAM production, are rising, prompting bulk buyers to secure supplies early. Globally, mixed trends in energy and feedstock markets are influencing the VAM market outlook.

Methanol prices in India have surged due to supply constraints from Iran, depreciation of the INR, and speculative bulk buying. Despite weak demand in some sectors like pharmaceuticals, formaldehyde demand has recovered slightly. Asian methanol prices declined amid weak demand in China, while Indian importers face high replacement costs driven by global factors.

Acetic Acid prices increased slightly as importers raised rates by ₹0.5/kg due to rising upstream costs and stable Vinyl Acetate Monomer (VAM) prices. Supply remained steady, supported by vessel arrivals, while demand showed signs of recovery from pharmaceutical and coating sectors. Internationally, higher FOB China prices and improved production activities signal potential price stabilization in the near term.

Acetone prices in India have experienced a decline due to surplus inventories and weak demand, especially from the pharmaceutical sector. Despite this, a seasonal increase in demand from the paints and coatings sector may stabilize prices soon. Global developments, such as changes in feedstock prices and supply adjustments in Asia, are also influencing the market.

Acetic Acid prices have fallen due to weaker demand and lower replacement costs, with bulk buyers seeking further discounts. Stable supply and bearish downstream demand, particularly from Ethyl Acetate producers, contribute to a challenging market outlook.