10 October 2013 16:59 [Source: ICIS news]
LONDON (ICIS)--East African solid caustic soda spot prices have increased by $30/tonne (€22/tonne) CFR (cost and freight) Kenya amid firming Indian and Chinese manufacturing costs, sources said on Thursday.
Market sources said prices increased for a number of reasons, including manufacturing costs in China, a 10% production cut in Indian production and a stabilised Indian rupee.
One Indian market player said local demand, especially soap demand, had also improved.
Spot prices were assessed last week at $460-480/tonne CFR Kenya. This week a buyer said it had purchased 1,600 tonnes of caustic soda flake at $500/tonne CFR Kenya, while, other market players assessed spot ranges between $480-520/tonne CFR Kenya.
($1 = €0.74)
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