LAB prices in India soften by $10-20 on abundant supply

17 April 2014 11:11 Source:ICIS News

SINGAPORE (ICIS)--Import prices of linear alkyl benzene (LAB) in India fell by $10-20 to $1,760-1,800/tonne in the week ending 16 April, according to ICIS data.

The decrease CFR (cost & freight) India was caused by softer raw material costs and lower prices in the domestic market.

Buyers were said to be able to choose from ample discounted supply from domestic producers.

Recent strengthening of the rupee also kept domestic offers at lower levels, sources in the domestic market said.

According to a market player, discounted domestic prices in April were at Indian rupee (Rs) 121-123.5/kg DEL (delivered).

A local producer said it was offering its cargoes at Rs123-124/kg DEL, adding that its regular customers were buying at those levels.

A separate producer was offering parcels at Rs122.50-123.50/kg DEL.

Offers and selling notions were quoted at $1,780-1,800/tonne CFR India for cargoes delivered in May. Customers' buying ideas were largely quoted at $1,750-1,780/tonne CFR India.

By Fahima Khail