A Solvent is a liquid that dissolves a solute. Solvents are organic chemicals and form an important part of the Indian petrochemical industry. The Industry is dominated by PSUs and private companies. The prices of derivatives like chemicals and solvents are vulnerable to crude price volatility. For example Benzene is produced from naphtha, which is made from crude oil. Phenol and acetone are produced from benzene and propylene. Following the world crude price index, Oil marketing companies revise the solvents prices on fortnightly basis in India.
The solvents like Mineral Turpentine Oil (MTO), Hexane, SBP(Special Boiling Point), Benzene, Toluene and Sulphur prices remained unchanged for the second quarter of September, 2019 by the oil marketing companies in India. In Mumbai, MTO(Mineral Turpentine Oil ) is priced at Rs.63000 per Kl, Hexane is sold at Rs.53300/- per KL, SBP is offered at Rs.65300/- per KL while Benzene and Toluene prices remained at Rs.49790/- and Rs.54500/- per Mt respectively. Sulphur is available at Rs.8400/- per Mt. in Mumbai.
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