Imported Mibk in Kandla

MIBK prices saw a downward trend today, with importers reducing their offers by INR 2/kg. Current quotations stand at INR 140++/kg on an ex-Hazira and ex-Kandla basis for 60-day credit terms. Traders holding stock offer slightly lower prices, quoting INR 138++/kg ex-Kandla and INR 138.50++/kg ex-Hazira for advance payments.

Softening feedstock costs and high inventory have caused a price dip in MIBK. Another major market update at the same time is high expectations of a shift in market dynamics in 2024-25 due to Deepak Phenolics' potential production plans.

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.

Today, GNFC, a domestic manufacturer, reduced Aniline prices by INR 4/kg to INR 145++ for tanker load, while barrel pack prices were at INR 158++ ex-Bharuch on advance payment terms. Importer and trader offers were lower, at INR 140++ ex-Mumbai and Kandla.

Methanol prices have increased by importers by ₹0.25/kg, reaching ₹28.50++ Ex Kandla and ₹28.75++ Ex Mumbai on 60-day payment terms. Trader offers were even higher, at ₹29.00++ Ex Mumbai and ₹28.75++ Ex Kandla, also on 60-day credit terms.

A sharp surge in the Asian benchmark, marked by CFR China methanol prices, has been attributed to the ongoing tensions between Iran and Israel, projecting higher methanol costs. Consequently, the market anticipates a rebound in the MDC market. Domestic manufacturers in the western region are currently offering higher prices, at ₹36++ ex-plant for bulk deals and ₹38++ ex-plant for spot deals to traders and small to medium consumers for October shipments.

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.

Importers have increased the price of Acetone by ₹1/kg to ₹80.50/kg (Ex-Kandla) on 60-day credit terms. Authorized dealers of domestic manufacturer Deepak Phenolics are offering prices at ₹81.00/kg (Ex-Dahej) on advance payment terms. Trader offers are also higher, ranging from ₹80.00/kg (Ex-Mumbai) to ₹81.50/kg (Ex-Dahej) on advance payment terms.