Tight Supplies, Seasonal Demand Drive N Butyl Acetate Prices Up
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The prices of N Butyl Acetate have risen due to tightening supplies and robust seasonal demand from the paints and coatings sector. Both domestic producers and importers have adjusted their prices upward. While global FOB China prices show a decline, Indian demand is expected to stay strong until mid-2025.
Key Highlights
- Price Update: Import prices increased by ₹2/kg, now at ₹90++ ex-Kandla, while Accord Organics raised prices to ₹89++ ex-Ahmednagar.
- Demand Dynamics: Seasonal demand in the paints and coatings sector expected to sustain strong purchasing until June 2025.
- Supply Constraints: Limited port inventories and a key Chinese producer’s shutdown add upward pressure on prices.
Global Market: Asian FOB China prices decline to $960/MT, while crude oil and natural gas prices show mixed movements.
N Butyl Acetate Prices Surge Amid Supply Tightness
- Importers have revised the price of N Butyl Acetate, increasing it by ₹2/kg to reach ₹90++ ex-Kandla on 60-day credit terms.
- Accord Organics, a prominent domestic producer, also raised its base price by ₹2/kg today, now quoting ₹89++ ex-Ahmednagar on advance payment terms.
- The surge in prices is primarily attributed to heightened purchasing activity from the paints and coatings sector alongside supply constraints.
- On a weekly basis, N Butyl Acetate prices have risen by ₹4/kg, reflecting an optimistic market sentiment.
Chemical Supply & Demand: Seasonal Demand Bolsters Indian Market Outlook
- Demand for N Butyl Acetate had been relatively subdued earlier in November due to declining raw material costs, leading many manufacturers in the paints, coatings, and ink sectors to favor spot purchases over building inventories.
- This week, Asian benchmark FOB China prices for N Butyl Acetate recorded a decline of 227 Yuan, settling at 6993 Yuan/MT, equivalent to $960/MT FOB China.
- In India, demand is expected to strengthen and remain consistent until June 2025, driven by seasonal requirements in the paints and coatings industry.
- India’s monthly consumption of N Butyl Acetate is estimated at around 4 kt, with the majority being consumed by the paints and coatings sector. Additional consumption comes from industries such as bulk drugs, personal care, fragrances, and leather.
Chemical Global Trends: Asian FOB China Prices See Decline
In global markets, the crude oil benchmark WTI price saw a slight decrease of 0.93%, closing at $70.02 per barrel, while natural gas prices edged up by 0.36%, reaching $3.22/MMBtu.
Plant News
Ningbo Juhua, a major N Butanol producer based in Zhejiang, China, announced the shutdown of its facility at the end of October 2024.
Expert Opinion: Robust Demand to Sustain Bullish Sentiment
N Butyl Acetate prices are likely to remain bullish this week due to robust demand from primary consumers in the paints and coatings sector and limited inventory at ports. Buyers are advised to seize inventory opportunities as seasonal demand in the paints and coatings industry gains momentum.
Daily Market Report
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