GNFC Ethyl Acetate in Bharuch

Domestic manufacturers have increased the price of ethyl acetate by Rs 4/kg over two consecutive days, reaching Rs 70.00/kg on an ex-Supa basis, as offered by Accord Organics on advance payment terms for October shipments.

Domestic manufacturers have increased the price of ethyl acetate by Rs 0.5/kg to Rs 67.00/kg on an ex-Supa basis, as offered by Accordd Organics on advance payment terms for September shipments. Other manufacturers in Pune are offering ethyl acetate in the range of Rs 66.50-67.50/kg, also on advance payment terms.

Trader offers were quoted at ₹69.00/kg on a 60-day credit basis, while bulk deals were heard in the range of ₹69.00/kg ex-Pune with 90-day credit terms for September lifting. In the last week of August, Ethyl Acetate prices saw a correction due to heavy rains and floods in Gujarat, which disrupted the production of packaging, inks, and pharmaceuticals.

Ethyl Acetate prices have increased by INR 1/kg, reaching INR 70++ per kg on an ex-Pune basis for advance payment terms. Accord Organics Pvt Ltd, India’s largest single-location manufacturer of Ethyl Acetate, is offering the chemical at INR 70.50++ per kg ex-Ahmednagar for August lifting on advance payment terms.

GNFC, a significant Acetic Acid manufacturer in western India, increased its Acetic Acid prices by INR 1/kg last week, bringing the rate to INR 38/kg ex-Bharuch. This price hike had a ripple effect, prompting importers to raise Acetic Acid prices by INR 0.50/kg to INR 38.50++ ex-Mumbai and INR 38.00++ ex-Kandla, both on advance payment terms.

Accordd Organics, India's largest single-location Ethyl Acetate producer, raised its prices by INR 1/kg due to a sharp rise in feedstock costs. The new price stands at INR 70.00/kg ex-Ahmed Nagar for spot dispatches with advance payment terms.

In the domestic market, VAM prices have witnessed a ₹2/kg increase, now quoted at ₹68/kg ex-Kandla for direct consumers on 60-day payment terms. Importers offer slightly higher rates to traders at ₹68.50/kg ex-Kandla under similar 60-day credit conditions.

The domestic prices for Phenol, Acetone, and IPA have seen a sharp increase following the announcement of a planned maintenance shutdown at Deepak Phenolics' plant, which is scheduled to take place from 10th to 25th October 2024. Currently, import offers for Phenol have risen to ₹105/kg (Ex-Kandla), marking a ₹2/kg increase on an advance payment basis. Acetone prices have also climbed by ₹2/kg, now priced at ₹83/kg (Ex-Mumbai) and ₹82.50/kg (Ex-Kandla) under similar payment terms.

In the domestic market, Methyl Amines prices have decreased by ₹1/kg, despite an uptick in feedstock methanol prices. Current offers for Mono Methyl Amine (MMA) 40% stand at ₹52++/kg, Di Methyl Amine (DMA) at ₹59++/kg, on advance payment terms. Several traders observed that domestic manufacturers like Balaji Amines and Alkyl Amines offered more competitive prices compared to imports, making them a preferred choice for buyers.