IPA is one of the major chemical used in paints and color industry. Period from April to June is the season when its demand is on peak. Countries like India where from April to June are summer the demand is highest. Other countries like Indonesia and Malaysia also import heavy amount in this period. This year scenario is different as Ramadadan the holy month for Muslim nations will start from 17 May. Indonesia and Malaysia where the majority of population is muslim cut down their working hours. As a result demand from chief nations has cut down to significant level. Thailand one of the other major importer has also cut down their imports this year as monsoon has began over there.
Many traders have delayed their cargoes and the manufacturers has also curtailed their production in order to make out their losses.
IPA prices has been floating in the range of USD 970-990 in past few weeks with no improvement.
