Imported Melamine in Mundra

The melamine market is witnessing stable prices, with slight fluctuations in the Asian benchmark. Oversupply persists due to increased production capacity, while weak downstream demand, impacted by the real estate slowdown, limits significant price changes. Adjustments in supply and potential policy shifts in real estate may influence future demand recovery.

Aniline prices declined by ₹2/kg due to weak demand and lower feedstock costs. Importer rates stand at ₹130++/kg, while GNFC maintains ₹136.45++/kg. Supply remains ample, but seasonal demand from agrochemicals and PU foam may drive recovery in April. Experts suggest inventory-building amid falling Benzene and Ammonia prices.

DEG prices saw minor adjustments, with importers reducing rates by ₹1/kg while IOCL raised prices marginally. Despite ample inventories, stable demand from paints and agrochemicals kept the market balanced.

Indian N-Propanol and N-Propyl Acetate (NPAC) prices have declined due to weak demand and excess inventory. Importers reduced N-Propanol prices by ₹1/kg to ₹95/kg, while NPAC dropped ₹2/kg to ₹92-94/kg. Demand from the paints and coatings sector remains strong, and prices are expected to rebound post-March. Lower acetic acid costs may influence NPAC pricing trends.

Toluene prices dropped by ₹4/kg due to bearish crude oil trends and benzene corrections. Offers range from ₹72.50–₹74.00/kg across markets. Despite strong seasonal demand, weak bulk drug consumption keeps the market bearish. Traders should monitor crude oil fluctuations and avoid stockpiling as near-term prices remain uncertain.

MIBK prices declined due to weak demand, surplus inventories, and lower replacement costs. Traders anticipate further corrections, with prices now at INR 122-124/kg. Despite seasonal support, market sentiment remains bearish. Speculation about Deepak Phenolics entering MIBK production could impact future supply. The paints and coatings sector provides some stability.

N-butyl acetate prices increased by ₹1/kg, now at ₹88++/kg ex-Kandla and ex-Ahmednagar, driven by strong demand from the paints and coatings sector. Supply remains tight, with manufacturers stockpiling ahead of peak demand. Global crude oil prices declined, but experts anticipate further price hikes due to limited inventory and sustained demand.

Acetone prices surged by ₹3/kg in India due to increased demand from the paints, coatings, and pharmaceutical sectors. Domestic producer Deepak Phenolics revised prices to ₹78.00/kg ex-Dahej. Seasonal demand remains strong, and market volatility is expected due to fluctuating feedstock costs and global price trends.

Methanol prices surged by ₹2/kg due to an unplanned plant shutdown and Iranian shipment concerns. Despite adequate inventory, market uncertainty has driven up prices. However, weak downstream demand and declining futures indicate potential corrections. Buyers are advised to remain cautious before making bulk inventory decisions.