India’s IPA prices decline on stronger rupee

03 October 2012 09:55  [Source: ICIS news]

SINGAPORE--India’s domestic isopropanol (IPA) prices fell by Indian rupees (Rs) 3-4/kg (6-8 cents/kg) after a major local producer announced lower list prices for October shipments, market sources said on Wednesday.

The regional producer announced list prices for October at Rs83-84/kg EXW (ex-works), Rs3-4/kg lower than the list prices for September, a market source said on 1 October.

The reduction in prices follows an appreciation of the Indian rupee against the US dollar, as well as weaker sentiment in the Asian markets, the source added.

Meanwhile, imported cargoes were offered in the domestic market at Rs82-83/kg ex-Kandla, lower by Rs2-3/kg, market sources said.

($1 = Rs52.40)

By: Veena Pathare
+65 6780 4327

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