East Africa caustic soda spot up $30/tonne as deep sea offers firm

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)

By: Samuel Smith
+44 208 652 3214

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