India's Deepak Fertilisers to hike IPA March offer by Rs3/kg

02 March 2011 06:16  [Source: ICIS news]

SINGAPORE (ICIS)--India’s Deepak Fertilisers and Petrochemicals aims to implement an Indian rupee (Rs) 3/kg (6 cents/kg) price hike for March isopropanol (IPA) parcels to reflect higher feedstock costs and firmer regional prices, a company official said on Wednesday.

March prices would stand at around Rs66-67/kg excluding all taxes, on an ex-plant basis, the official added.

“At the same time, we have to consider the balance between achieving maximum sales volume and maintaining targeted margins given the [impending] financial year end,” the source said.

He added that the producer aimed to keep its stock level at a minimum as the financial year came to an end in March.

Current import offers into India stand at above $1,370/tonne (€1,000/tonne) CFR (cost & freight) India but have failed to attract buying interest, market participants said.

Fresh interest for imports was expected to emerge at the earliest in late March as domestic inventories remained plentiful, market players said.

($1 = Rs44.82, $1 = €0.73)

For more on IPA, visit ICIS chemical intelligence

By: Yu Guo
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