Imported N-Hexane in Kandla

Hexane prices have decreased by ₹1/kg, with offers ranging from ₹85.50 to ₹88++ per kg. Looking at the market sentiments, chemical buyers are opting for spot deals. Read chemical market commentary for a complete understanding of the latest trends.

N-Hexane prices expected to remain under pressure this week due to weak downstream demand, surplus inventories, and lower replacement costs.

Importers have raised the price of N-Hexane by ₹5/kg, bringing it to ₹98++ per kg ex-Kandla on a 60-day credit basis. Traders are offering even higher rates, around ₹100++ per kg ex-Kandla on the same credit terms. No bulk deals were reported, as sellers are reluctant to liquidate their limited inventories.

Domestic methanol prices witnessed an increase of ₹1.00/kg as importers adjusted their offers upwards. The updated prices, based on advance payment terms with immediate lifting, are as follows: Ex-Kandla: ₹27.00++, Ex-Mumbai: ₹27.50++.

Phenol prices have softened this week due to increased supply, weak upstream market trends, and bearish sentiment. Domestic production has resumed, ensuring stable supply levels. Seasonal demand recovery from plywood manufacturers is expected to offset current price pressures partially.

The melamine market is experiencing downward pricing trends due to oversupply and reduced demand in downstream industries. New production capacities and restored operations of previously offline facilities are intensifying the supply-demand imbalance. Coupled with declining raw material costs, these factors create a challenging outlook for the market.

Toluene prices in the Indian market saw a downward revision due to weak upstream dynamics, including falling crude oil and naphtha prices. The demand remains subdued but is expected to recover with increased activity in the pharmaceutical and paints industries. Global market trends, such as maintenance at chemical plants in China, are also influencing supply and pricing dynamics.

IPA prices in India continue to decline, driven by weak demand, excess inventory, and lower replacement costs despite Anti-Dumping Duty. Domestic and imported supplies remain robust, contributing to price pressure. Crude oil prices fell by 2.45%, while natural gas prices slightly increased.

VAM prices in India have fallen due to weak demand and increased inventories. Sluggish activity during October's festive season further strained market sentiment. However, demand is likely to rebound by mid-November, supported by the paints and coatings sector's seasonal boost. Current Price Dynamics of Vinyl Acetate Monomer (VAM)