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Monday, May 25, 1998

Chemical markets display sluggish trend 

NATIONAL NEWS SERVICE  
The local chemicals market displayed a mixed tendency during the last week while business remained sluggish because of rising mercury.

On encouraging producing centres advices coupled with tight supply position because of scorching heat, menthol flake, medium and bold, on the local market, ended the week with a gain of Rs 15/22 at Rs 422, Rs 435 and Rs 450 a kg respectively and mentha oil was up by Rs 20 at Rs 314 a kg.

Similarly, DMO recorded a gain of Rs 5 at Rs 95 a kg amidst tight supply position while thymol dipped by Rs 15 at Rs 275 a kg on stockists offerings coupled with slack demand. Caustic soda flakes recorded a sharp rise of Rs 30/40 at Rs 690/700 per 50 kg due to restricted supply by the manufacturers. Citric acid China flared up by Rs 50 at Rs 3,400 per 50 kg on zooming demand from cold drink units coupled with decline in import from China while Bombay Dyeing citric held steady at its previous close of Rs 3,800 per 50 kg. Import being costly because of firm dollar, paraffin waxfirmed up by Rs 25/50 at Rs 1,750/1,800 per 50 kg and press wax recorded a sharp rise of Rs 500 at Rs 30,500 a tonne. Residue and slackes wax prices ruled firm at Rs 12,000 and Rs 21,000 a tonne respectively.

Boric acid technical shot up by Rs 10 at Rs 2,500 per 50 kg as supply from Indorama and Nura was not seen in the market and supply from Morarji was reported restricted coupled with good demand from talcum powder units and other consuming industries. Borax granular and crystal held steady at their previous close.

Following the downward revision in prices by manufacturers, sodium hydro sulphite Kalali eased by Rs 5 at Rs 59 a kg. It has suffered a setback of Rs 15 a kg in a month and further fall cannot be ruled out, according to traders. Prices of sodium hydro sulphite Gulshan were also reduced by the manufacturer by Rs 7 a kg and it was priced at Rs 54 a kg. China hydro held steady at Rs 53 a kg amidst tight supply position.

Camphor slab slipped by Rs 10 at Rs 130 a kg due to poor offtake and onweak Mumbai advices, safolite remained subdued at Rs 70 a kg. On improved supply, titanium dioxide China, K brand and TTK slipped by Re 1 at Rs 77, Rs 80 and Rs 83 a kg respectively. Titanium dioxide RC-822 held steady at Rs 117 a kg while titanium dioxide TR-92 firmed up by Rs 7 at Rs 124 a kg as import turned costly because of firm dollar in the forex. Tartaric acid France remained unchanged at Rs 460 a kg. Business in other chemicals remained sluggish because of weak upcountry as well as local demand because of rising mercury. No change was recorded in dyes and colours prices in a thin trading.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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