Imported MEK Bulk in Kandla

MEK import prices in India dropped by ₹3/kg to ₹88.50/kg (Ex-Kandla, 30-day credit), driven by weak downstream demand and ample inventories. Domestic Cetex prices stand at ₹90–92/kg (Ex-Chennai). Market sentiment remains cautious, though steady demand from printing inks and packaging sectors may stabilize prices post-April.

MEK prices in India dropped due to weak market sentiment and financial year-end sluggishness. While short-term prices remain under pressure, demand from printing inks and packaging sectors may support recovery post-March 2025.

Toluene prices rose by ₹0.5/kg in India, tracking a crude oil spike. However, downstream demand remains weak, with traders cautious due to OPEC+’s planned output hike. Tight refinery margins and low bulk demand signal potential for a price correction. Short-term sentiment is bearish; buyers should monitor feedstock trends closely.

Indian methanol prices dropped ₹0.50/kg despite limited inventories and early-month demand. Weak downstream consumption and low-cost Iranian cargoes drove the correction. However, rising Asian benchmarks and firming crude may soon reverse the trend. Buyers are advised to stock up as demand from formaldehyde and pharma may strengthen in June.

Styrene Monomer prices strengthened across Asia despite weak crude trends, with Indian bulk imports priced at ₹82/kg. Domestic Styrene Copolymer markets remained subdued in April, but demand is expected to rebound from June. Upstream benzene prices firmed up, while traders anticipate steady price hikes due to seasonal demand and tighter supply.

The Indian Pyridine market showed a mixed trend this week. While 2-Picoline prices remained supported by seasonal agrochemical demand, 3-Picoline saw price weakness due to subdued Niacinamide consumption. Jubilant Life Sciences ramped up Niacinamide output, potentially increasing supply. Overall sentiment remains cautious, with selective downstream sectors driving demand.

Vinyl Acetate Monomer (VAM) prices in India declined by ₹1/kg due to weak demand from paints and adhesives sectors. While April saw tight supply, upcoming shipments and Celanese’s plant restart are expected to ease concerns. Market participants anticipate further price corrections as demand slows and importers hold off on fresh buys.

Toluene prices in the domestic Indian market saw a downward revision of ₹1/kg, as importers adjusted rates amid falling crude benchmarks and sluggish downstream demand. Bulk deals from importers were quoted at ₹64.50++ per kg (ex-Kandla) and ₹65.50++ per kg (ex-Mumbai) for 60-day payment terms. Meanwhile, trader offers were reported at ₹66++ per kg (ex-Mumbai) and ₹65.75++ per kg (ex-Kandla) under similar credit terms.

FOB China Acetic Acid surged $20 to $340/MT amid restocking triggered by rising COVID cases. However, Indian prices fell ₹1–1.5/kg due to weak demand and ongoing shutdowns at major plants. Inventory tightness and pharma sector demand could trigger a sharp rebound. Traders are actively building stocks ahead of June.