Downswing in Phthalic Anhydride Price by IG Petrochemicals; demand to get a nudge from flexible PVC market – 5 Nov 2014

Phthalic Anhydride (PA) market in India is going at a ponderous rate. Prices of PA had been declined by IG Petrochemicals Ltd. by Rs 4 per kg to Rs 93 per kg at the beginning of the month of November. In a cynical advancement, IG petrochemicals further depreciated the prices yesterday by Rs 5 per kg to settle their ex-work price at Rs 88 per kg.

IG Petrochemicals Ltd Phthalic Anhydride Plant at Taloja which was closed for a change of the catalyst has now restored its production and has stabilized operations. This is being ascertained as one of the main reasons for the price correction by IG petrochemicals.

There are chances of a further fall off in the prices of PA in next few weeks before the demand from flexible PVC market gives it a nudge. Market sources confirmed that PA demand is expected to increase from the end user industry either by the end of this month or by the first week of December.

Last quoted price for Herdilia was Rs. 77 per kg.