We collect prices from a wide ranges of sources.
Indianpetrochem.com collects prices of chemicals in a methodical manner across India through a network of scouts, industry stringers, journalists, analysts and editors. Prices are fed live to our head office in New Delhi, where they are analysed for inconsistency and errors and then revalidated, if necessary, before they are uploaded to the website.
We ensure our prices are accurate.
A price is discovered for a particular commodity through daily interviews with buyers, producers, traders and distributors. The price for a chemical in a particular trading centre is determined from standard repeatable orders for the day. These prices are transmitted to New Delhi where they go through another round of scrutiny before they are uploaded. If prices are found to be out of step, they are sent back for revalidation by our teams or our central office checks them out directly with the sellers and buyers so that all explicit and implicit biases are ironed out. Our scouts and stringers are appointed after a due interview process to rule out any inherent bias.
Only the most representative prices are published.
Indianpetrochem.com goes to great lengths to ensure accuracy of its prices. Prices are generated throughout the day for an item from multiple sources and only the most representative prices are taken into consideration for updation.
Spot prices are updated several times a day depending upon how quickly the market moves. These are “free delivery” prices negotiated between sellers and buyers on a daily basis and are inclusive of taxes. Spot prices are for delivery locally at the place for which the price is generated.
Prices are given in four different categories in the website.
Imported Tanker prices: These are imported prices when bought in tanker loads or bulk.
Imported Intact prices: These are imported chemicals prices that are against in tankers or barrels.
Imported Repack prices: These are prices of parcels of chemicals that are taken out from Imported Intact and then repackaged.
Domestic Intact prices: These are prices of chemicals that are sold in bulk in tankers or barrels by manufacturers.
Domestic Repack prices: These are prices given by traders for smaller parcels of product taken out from Domestic Intact supplies by repackaging the material.
Ex-work prices or list prices are factory gate prices and are exclusive of taxes. We provides two types of ex-work prices, one with transport and discount rates to the delivery point and the other based on pure ex-factory basis net of taxes.
We generate import prices for Europe, the Middle East, Asia or Asia-Pacific, China, West Asia, North America and the Former Soviet Union. The intention is to provide a suite of global prices that have an impact on Indian prices. India is import dependent on key chemical products and import prices are of relevance. The quotes are in relevant currencies as highlighted in our pricing tables. The prices are displayed in FOB, CIF and “Landed” formats. “Landed” prices are the most representative prices for imported commodities at Indian ports. The Nava Sheva port is usually taken as the representative port as bulk of the petrochemical imports take place from this port. We take the largest landed volume of the commodity and its price at the port as the relevant benchmark.
Our analyst and editors are trained to spot trends and put them in the correct context. We continuously monitor demand supply forces at play out not just in India but across the world and how they influence local prices. Global chemical prices, plant shutdowns both within and outside India, raw material price behavior and even geo political developments are taken into account when we put our analyses and forecasts.
Daily interactions with market players.
We closely liaise with producers, wholesalers, distributors, bulk importers on a daily basis to provide real time updates. Since India’s chemical and petrochemical prices are deeply influenced by imported materials, we have an international price section that collects and collates CIF and FOB prices across the main trading centers around the world.
While we make every effort to collect information with as much accuracy as possible, we do not take responsibility for any damage or liability that may arise out of any sale or purchase that may take place based on our prices matrices.