India’s Deepak Fertilizers runs IPA unit at 100% post restart

15 September 2010 09:23  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Deepak Fertilisers and Petrochemicals Corp is running its 70,000 tonne/year isopropanol (IPA) plant at Mumbai, Maharashtra state at 100% capacity after restarting it in late August, a company official said on Wednesday.

Deepak had declared a force majeure on IPA production and had taken the plant offline on 30 July following a pipeline burst, the official said.

“The pipe replacement took nearly four weeks to complete,” he added.  

The shutdown at Deepak’s IPA plant, which caters to nearly 70% of the domestic demand, had reduced IPA availability in the market leading to a firming of prices, market sources said.

Domestic IPA prices had risen by $5-20/tonne (€4-15/tonne) this week to $1,100-1,120/tonne CFR (cost and freight) India, according to ICIS. 

The uptrend was expected to continue until November, sources said, adding that

IPA prices in the Middle East had also strengthened $10-30/tonne to $1,130-1,160/tonne CFR on concerns of supply scarcity ahead of upcoming plant turnarounds at major regional plants in Asia, sources said.

A similar trend was witnessed in the Asia Pacific region where prices gained $20-75/tonne in the week ending 10 September to $1,100-1,150/tonne CFR southeast Asia and $1,175-1,200/tonne CFR northeast Asia, according to ICIS.

The existing supply crunch could worsen by plant turnarounds coming up in October and November, lending further support to prices in the region, said market players.

($1 =  €0.77)

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By: Saru Thukral
+44 208652 3214

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