N Propanol Prices Dip, While N Propyl Acetate Surges Amid Strong Packaging Demand
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Domestic manufacturer Accord Organics is offering NPAC at ₹110/kg (Ex-Supa Ahmednagar) on advance payment terms. India’s monthly demand for N Propanol is approximately 5,000 MT, while the demand for NPAC stands at around 3,500 MT per month.
Chemical Price
- Importers have reduced N Propanol prices by ₹5/kg, bringing them down to ₹105/kg (Ex-Kandla) on 60-day credit terms. Traders are offering N Propanol at ₹104/kg (Ex-Kandla) on advance payment terms.
- In contrast, N Propyl Acetate (NPAC) prices have increased by ₹3/kg, now standing at ₹107/kg (Ex-Kandla) on advance payment terms.
- Domestic manufacturer Accord Organics is offering NPAC at ₹110/kg (Ex-Supa Ahmednagar) on advance payment terms.
- The increase in NPAC prices is attributed to the rise in Acetic Acid prices, coupled with a surge in downstream production from the printing inks and packaging industries.
Chemical Demand and Supply
- India’s monthly demand for N Propanol is approximately 5,000 MT, while the demand for NPAC stands at around 3,500 MT per month. The primary consumers of NPAC include the paints, inks, packaging, bulk drugs, and flavours and fragrance industries.
- Seasonal demand from the packaging and ink sectors remains robust and is expected to stay strong until October 2024. However, demand from the paints and coatings sector has slowed due to the monsoon but is expected to pick up again post-September, according to market participants.
- The growing production of alkyd resin-based paints in India is also likely to boost demand for NPAC. A leading importer noted that replacement costs for NPAC have risen due to the increase in Acetic Acid prices.
Chemical News
- In international markets, upstream crude oil benchmark WTI prices rose by 1.81% to $66.90/barrel, and natural gas prices increased by 0.42% to $2.24/MMBtu.
- Feedstock FOB China Acetic Acid prices were at $345/MT, N Propanol prices were at $1,100/MT, and NPAC prices were at $1,275/MT.
Expert Opinion
It is expected that N Propanol prices are likely to remain stable this week, while NPAC prices are expected to continue their bullish trend due to strong demand from the packaging and printing ink sectors. Buyers are advised to explore inventory opportunities as NPAC prices are projected to increase further.
Daily Market Report
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