For the wood and decorative panel industry, the situation is somewhere happy and some where sad. According to reports received from the chemical industry, phenol prices are showing moderation, while the price drop news in third week of October has brought a sigh of relief to the industry
On the other hand, the Government of India has decided to remove anti-dumping duty on import of phenol from European Union, Singapore and South Korea, which has been welcomed by the wood and decorative panel industry. They thanked the government for this decision. The industry expects the decision to maintain a balance in phenol prices, as India is still dependent on imports of phenol for its requirements.
According to the reports from the chemical sector in second fortnight of October, there is also news of a fall in the price of methanol, which had reached Rs 47/kg while moving in a bullish direction for the last few days, now came closer to Rs 40. There is also news of softening of formaldehyde due to fall in the price of methanol, then it is a matter of great relief for the wood and decorative panel industry.
Although experts believe that how long this softening will last, is uncertain, because there is expectation that the current softness is due to low demand. According to industry reports, the production of finished products has come down significantly due to the increase in the price of various chemicals, and companies have reduced the production of cheaper products.
According to the report, there has been news of a decrease in the production of liner laminate, cheap grade plywood, particle board for the last two weeks. Although the price of melamine continues to be bullish, and after a slight softening in the past, melamine has once again moved towards a bullish trend, and this figure is expected to move towards touching 350 once again. According to the report, the domestic company GSFC has also increased the price of melamine.