Solvent C9 Prices Showing a Declining Trend
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Solvent C9 is a kind of light hydrocarbon mixture used in a range of industries such as paint, rubber, cosmetics, and insulation. Its main components are pentane, hexane, and heptane, and is primarily composed of C9 hydrocarbons. The price of Solvent C9 is largely determined by the price of crude oil, which is a major component in producing hydrocarbons. So when crude oil prices decrease, the price of Solvent C9 is also expected to decrease.
Market witnessing thin buying interest
In the third week of February, Solvent C9 prices opened at 89++ ex Kandla and fell by 1 rs/kg to 88++ Ex Kandla with domestic manufacturer Arham Petrochem Pvt Ltd revising its C9 price to 87.75++ Ex Kandla energy plant and 88.75++ Ex Ahmedabad plant.
The C9 prices fell further by 1 rs this week to 87++ Ex Kandla due to high inventories and build-up at the port. Thin buying interest and competitive domestic manufacturer prices led to selling pressure in the market. Domestic manufacturer Kandla Energy & Chemicals Ltd offers C9 at 86.75++ Ex Kandla, and Arham Petro Chem offers at 87.75++ Ex Ahmadabad.
Solvent C9 market demand
Feed Stock crude oil prices increased after U.S. Gasoline inventory data was released. Gasoline inventories fell by nearly 1.90 million barrels on increased demand. Mixed market sentiments prevailed due to a combination of high inventory levels at Kandla port and fluctuations in feedstock (crude) prices. However, demand for Solvent C9 is expected to increase in March, driven by seasonal demand from the paints, coatings, and agrochemical sectors. However, supply remains thick from both imports and domestic manufacturers.
Insights
The market is likely to experience mixed prices this week, largely due to the selling pressure caused by higher port inventories. However, industry experts predict that the demand for Solvent C9 is likely to rise in mid-March, mainly driven by the paint and coating industry’s seasonal demand.
As a result, prices for Solvent C9 may turn bullish in the coming weeks. It is essential to note that prices for Solvent C9 and other chemicals are influenced by various factors, including feedstock prices, supply and demand dynamics, global economic conditions, and geopolitical events.
Read more: Chemical Manufacturing – Understanding the Essence of Associated Costs
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