Methyl Isobutyl Ketone (MIBK)
In India MIBK is majorly imported on Kandla port. JNPT ,Calcutta, Vapi and Madras are the other ports where MIBK is being imported but not in huge quantity.
C.R. Chemicals is the major manufacturer for MIBK in India.
For daily price, we follow the same procedure as mentioned above in the Daily pricing methodology.
Our team regularly communicates with the key participants for international price.
Here we ask the key participants to bid their prices. We make sure that all the entities submit the relevant documents to make the price assessment more relevant
Our team analyse these prices on several factors. Here market dimensions are studied well. Company rationale, traders documents, current market scenario, last week’s assessed prices, order sizes, quantity details, traded quantity, ordered quantity, delivery information are some of the key factors taken into consideration.
MIBK is used as a solvent in factories that produce paints, rubber & pharmaceutical products, chemicals, and machinery. The demand & supply of MIBK depend on these industries.
Globally, 64% of total MIBK output is consumed as a solvent, 18% as an extraction solvent, 10% as rubber processing chemicals and 3% as surfactants.
In India MIBK is majorly imported from Korea and Japan.United Kingdom, China, Netherland, United State and Taiwan are the other countries from where MIBK is imported in lesser quantity.
Later a comparative analysis is being carried out for all the prices. In the end, price which is more suitable and prompt is decided. Inference of this analysis is published in our market report as international price.
This assessed information is then published in our weekly report.
For CFR India, cost and freight is included. For FOB the prices does not include the shipping charges.
FOB (Freight on Board) prices is generally taken or the material being imported from Korea.