25 June 2008 04:27 [Source: ICIS news]
SINGAPORE (ICIS news) -- Indian acetone traded higher this week due to higher international prices as well as spike in raw materials cost, industry sources said on Wednesday.
Indian acetone prices were assessed at $1,080-1,090/tonne CFR (cost-and-freight) ?xml:namespace>
A 1,000 tonne cargo was reported sold at $1,080/tonne CFR India for mid-July landing. Cargo was said to be of Taiwanese origin, which is subjected to an anti-dumping duty (ADD) of $87-90/tonne.
“Prices are moving higher as suppliers are unwilling to sell into
Margins were even lower after factoring in ADD which ranged from $150-250/tonne for cargoes of Singaporean origin.
Even Korean cargoes, which used to enjoy tariff free privileges, now face an ADD of $67/tonne.
“It really makes no sense to sell to
“After factoring in ADD and freight costs of around $70-80/tonne, our margins will be so eroded that our prices cannot be competitive enough”, another source added.
Domestic offers remained stable at Indian rupee (Rs) 56/kg ($1.31/kg) in the
Spot prices in
High benzene and propylene values continued to prompt producers to hike acetone prices.
Spot propylene prices gained $20/tonne to $1,740-1,840/tonne CFR NE Asia last Friday. Benzene values, however, lost $40/tonne to $1,290-1,300/tonne FOB
($1 = Rs42.75)
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