Butyl Acrylate Monomer Prices Decline by ₹3/kg Amid Off-Season Slowdown
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The price of Butyl Acrylate Monomer (BAM) has been reduced by ₹3 per kg, bringing it down to ₹114++ per kg, Ex-Kandla, for 60 days credit, and ₹112++ per kg for immediate payment. BPCL, the domestic manufacturer, has set its Butyl Acrylate Monomer price at ₹125.10++ per kg from Kochi under cash payment terms.
Chemical Price
- The price of Butyl Acrylate Monomer (BAM) has been reduced by ₹3 per kg, bringing it down to ₹114++ per kg, Ex-Kandla, for 60 days credit, and ₹112++ per kg for immediate payment.
- BPCL, the domestic manufacturer, has set its Butyl Acrylate Monomer price at ₹125.10++ per kg from Kochi under cash payment terms.
Chemical Demand and Supply
- The current demand for Butyl Acrylate Monomer (BAM) in India stands at approximately 20 kt. BPCL, the sole domestic producer, has a monthly production capacity of around 15 kt.
- Major consumers, accounting for 60% of the domestic demand, are industries involved in paints, coatings, adhesives, and sealants.
- The remaining 40% comes from downstream sectors like polymers, textiles, leather, and various other chemical applications.
- The western region, particularly Maharashtra and Gujarat, holds 68% of the BAM market share, with an expected growth rate of 4.8% per year.
- Due to the off-season, demand from the paints and coatings segment has reduced, and the demand from adhesives, textiles, and leather industries remains low due to weak downstream market activity.
- According to a few market participants, the demand is expected to increase from November 2024 as the paints and coatings industry is likely to recover after the monsoon season.
Chemical News
- In the global market, there have been some notable developments. The WTI crude oil benchmark price rose by 0.29%, reaching $68.37 per barrel, while natural gas prices saw a 0.44% decrease, settling at $2.88.
- The feedstock FOB Korea propylene prices remained steady at $815 per metric ton, and CFR China n-butanol prices also remained stable at $930 per metric ton.
- Yantai Wanhua, a leading propylene manufacturer based in Shandong, China, announced annual maintenance from the end of August 2024, with operations likely to resume by mid-October 2024. The unit has a production capacity of 750 kt of propylene per annum.
Expert Opinion
- BAM prices are expected to remain volatile and mixed due to reduced demand from key sectors like paints and coatings during the off-season. In addition, lower feedstock costs for propylene and n-butanol may exert further downward pressure on BAM prices.
- With an anticipated surge in demand after October 2024, buyers and traders are advised to consider stockpiling during the first half of October 2024. Until then, relying on just-in-time procurement would be a prudent option for consumers.
Daily Market Report
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