The prices of Methyl Isobutyl Ketone (MIBK) in India have stayed steady since the last week of February, largely attributed to weak demand, surpluses in stockpiles, and lower replacement costs. While some seasonal drivers typically contribute to stronger demand from a few sectors, the mood is still rather negative as traders hope that some corrections in price may take place in the near term.
Declining global crude oil and feedstock prices are one reason behind price stability. This trend has affected the costing paradigm in MIBK production and thereby offered some price relief. At the same time, huge stockpiles and sluggish demand in other major downstream sectors such as bulk drugs and rubber processing remain bearish for MIBK pricing. Prices would remain volatile for a little while.
Now, with seasonal demand for MIBK getting on an uptrend lately, stockpiles at the Indian ports, together with...
