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NCDEX tips, Caustic soda price spikes on closure of manufacturing plants abroad
Chlorine prices have improved to negative of Rs 2,000-3,000 a tonne due to healthy demand
Prices of caustic soda have risen by nearly 30 percent over the last four months due to healthy demand growth and lower supplies following the closure of manufacturing plants in Europe and China.
According to the latest report from rating agency ICRA, caustic soda prices for spot delivery in the US jumped to $581 a tonne in January from $456 a tonne in September. Chinese suppliers are quoting a price of $612 a tonne, up from $498 a tonne in September. Caustic soda prices have jumped between 35 and 45 percent between April and December.
One of two major reasons for the price rise is the decision by the EU in December 2013 to discontinue the mercury process for chlor-alkali units (around 26 percent of total capacity in Europe) beyond December 11, 2017. Conversion to membrane cell technology is an expensive exercise which along with the high cost of power in these countries made several units unviable. This is expected to keep Europe in short supply over the medium term.
“Chlor-alkali plants in China, the largest player globally, are running at reduced capacity following poor chlorine realizations besides stricter environmental norms being enforced by the government.
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