15 March 2012 10:02 [Source: ICIS news]
The prices have risen to $1,280-1,350/tonne (€986-1,040/tonne) CFR (cost & freight) India, the traders added.
Trade has been subdued over the last few weeks as buyers are reluctant to commit to fresh cargoes amid weak market demand caused by the bearish economy and the approaching end of India’s fiscal year, traders and buyers said.
“The gap between buy and sell ideas is too high to conclude deals,” a South Korean producer said.
Some buyers are opting for smaller parcels and are waiting for the prices to stabilise before risking to purchase bigger volumes, the traders said.
India’s Deepak Fertilisers and Petrochemicals is currently running its 70,000 tonne/year IPA plant in Mumbai, the only local IPA plant, at full capacity, a company source said.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections