04 March 2010 03:12 [Source: ICIS news]
SINGAPORE (ICIS news)--India’s Narmada Chematur Petrochemicals Ltd (NCPL) shuts its toluene di-isocyanate (TDI) facility at Bharuch in Gujarat state on 27 February for a four-week turnaround, a company source said on Thursday.
The TDI plant has a nameplate capacity of 14,000 tonnes/year.
Prior to the shutdown, the plant was heard to have experienced operating problems due to lack of feedstock as Gujarat Narmada Valley Fertilizers Co (GNFC)’s ammonia was disrupted early February due to an explosion and a fire at its fertilizer plant, traders said.
Domestic TDI supply was reduced drastically and buyers and end-users were heard enquiring for more imported goods that eventually pushed up the CIF (cost, insurance and freight) ?xml:namespace>
NCPL was able to cater to around 50% of the domestic demand, while the other 50% was being covered by imports, the source said.
Transactions mainly reported on CIF India were at $3,150-$3,250/tonne (€2,300-2,374/tonne) on Wednesday, up $150/tonne from two weeks ago, market players said.
NCPL offered at Indian rupees (Rs) 164.50/kg ($3.6/kg) EXW (ex-works), equivalent to about $3,325/tonne CIF India, which was effective from two weeks ago.
NCPL - sole TDI producer in
($1 = €0.73 / $1 = Rs45.70)
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