22 January 2014 07:46 [Source: ICIS news]
SINGAPORE (ICIS)--India’s domestic diethanolamines (DEA) prices are stabilising in the week following sharp gains previously, as the arrivals of DEA imports helped to plug a recent supply shortfall, market participants said on Wednesday.
DEA discussions rose sharply to Indian rupees (Rs) 122/kg ($1.97/kg) EXWH (ex-warehouse) in the week ended 15 January from Rs108-112/kg EXWH in the previous week. Prices have remained stable at Rs122/kg EXWH since, they added.
Some 600 tonnes of imported DEA have recently arrived in India and they were absorbed in the buoyant textile, pharmaceutical and surfactants sectors, the participants said.
“The DEA prices have stabilised and the market is now more subdued,” one participant said.
In the previous week, northeast Asia-origin DEA in drummed packaging was heard transacted at $1,615/tonne CIF (cost, insurance & freight) India for January shipment, which translated to around Rs114/kg — a level which distributors could still reap a profit given rising local prices.
The fresh transactions of Taiwan-origin DEA were heard at $1,475-1,500/tonne CIF India, owing to the influx of imports into India from the Middle East and Malaysia.
The Indian market has been facing tightening supply from a major producer in Thailand owing to regular plant maintenance.
“There were no offers [from Thailand] until the end of February,” the participant said.
Thailand’s PTT Global shut its 50,000 tonne/year ethanolamines unit in Map Ta Phut on 15 January for a turnaround that would last until mid-February, market sources said.
The turnaround will last for three to four weeks, during which there will be a catalyst change in the unit, they added. PTT previously conducted maintenance at the unit in the first half of August 2013.
($1 = Rs61.96)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections