Methyl n-Amyl Ketone Prices Remain Bullish in Indian Market
- 23-May-2022 2:27 PM
- Journalist: Jai Sen
Delhi NCR, India: The Methyl n-Amyl Ketone (MAK) market traced upwards by taking pressure from the rising feedstock market. Both Acetone and Butyraldehyde rose this week while the international Crude oil continued on an upward price trajectory.
According to the ChemAnalyst Database, the price of Methyl n-Amyl Ketone in India spiked up by mid of May 2022 with an inclination of 3.4 percent. Concerns about a dramatic slowdown in Gross Domestic Product have grown as the financial hub prepares to reopen after a prolonged two-month shutdown. The European Union's (EU) efforts about the embargo on Russian oil have kept prices starting this week on a positive note. Furthermore, the rising gasoline demand ahead of the peak driving season across the United States and tightening supplies supported the Crude Oil prices. On Monday morning, Brent crude prices increased to USD 113 a barrel, while WTI crude futures in the United States gained and traded at USD 111 a barrel, extending last week's slight gains for both markets.
As per our insights, some manufacturers in China were facing difficulties with depleting margins. Thus, in order to protect their margins, the manufacturers have increased their offers for their Methyl n-Amyl Ketone product lines. Also, the operating rates remained high, beyond 90 percent, and export demand inclined. As a result, the terminal users were satisfied on the supply side and increased their downstream Methyl n-Amyl Ketone procurement.
Meanwhile, in India, the Methyl n-Amyl Ketone price continued to run high due to skyrocketing demand for automotive paints and coatings. The downstream market players were under cost pressure with increasing raw material prices and freight charges. In an interview, Berger Nippon Paint Automotive Coatings Private Limited (BNPA) quoted that the number of enquiries was increasing daily with rapid advancements and strong buying sentiments in the downstream automotive sector.
As per ChemAnalyst, "The rising demand for Methyl n-Amyl Ketone from the downstream automotive paints and coatings industry might continue to support the product's uphill price trend in the coming weeks. Also, China is anticipated to see increased demand with expected ease in lockdowns and resumed trade activities which could increase the Methyl n-Amyl Ketone contracts."