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IndiaIn Q1 2025, Ex-Mumbai MTO prices remained steady, reflecting a continuation of the prior quarter’s trends. January saw prices stabilize at INR 83,000, and February saw a slight rise of 2.41% to INR 85,000, followed by a marginal increase to INR 85,500 in March. This stability suggests a more balanced market, with prices showing moderate growth despite underlying pressures from fluctuating feedstock costs and a stable demand from key end-user industries like paints and coatings. The overall price movement indicates a market that is neither overly optimistic nor declining rapidly but rather operating within a steady range.
In Q4 2024, Ex-Mumbai saw a sharper decline in prices, particularly in October when prices fell to INR 79,000, a significant 4.82% decrease. However, there was a rebound in November and December, with prices rising to INR 81,000 and then holding steady at INR 83,000 in December, reflecting increases of 2.53% and 2.47%, respectively. The rebound could be attributed to a slight improvement in feedstock availability and perhaps a recovery in the demand from the industrial sectors, including paints and coatings. Despite the rebound, the overall market was still feeling the pressure of fluctuating raw material prices and external market uncertainties.
In Q3 2024, Ex-Mumbai showed some signs of stabilization, with prices fluctuating within a narrow range. In July, prices remained steady at INR 84,000 and then increased by 2.38% to INR 86,000 in August. However, by September, the Mineral Turpentine Oil price decreased to INR 83,000, a drop of 3.49%. This quarter’s price movements were indicative of a generally balanced market, with demand from the paint industry remaining stable. The shifts in price were largely influenced by ongoing volatility in the feedstock market, though overall supply and demand remained balanced.
In Q2 2024, Ex-Mumbai prices continued to exhibit volatility. In April, the MTO price stood at INR 87,000 per ton, marking a 2.25% decline. This was followed by a brief uptick in May to INR 88,000, a 1.15% increase, but prices again fell to INR 84,000 in June, reflecting a significant 4.55% drop. The market saw modest fluctuations due to a combination of steady demand from the paints and coatings sector and uncertainty in feedstock prices. Demand remained steady, but price reductions were still necessary to balance the market amid rising costs of raw materials.
In Q1 2024, Ex-Mumbai Mineral Turpentine Oil prices showed a noticeable downward trend. Starting the year at INR 94,000 per ton in January, prices experienced a consistent decline through the quarter, reaching INR 89,000 by March, representing a decrease of approximately 5.32% over the three-month period. The decline was attributed to fluctuations in feedstock prices, with a slight softening in demand from key sectors like construction. This MTO price trend suggests that although the market began with relatively higher prices, a tightening in demand alongside unstable feedstock prices led to downward adjustments.
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These events underscore the Mineral Turpentine Oil market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Mineral Turpentine Oil pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
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HS Code
Molecular Formula
Mineral Turpentine Oil (MTO), or white spirit, is a versatile solvent used in various industries. It is commonly used in paints, coatings, and varnishes to dissolve resins and improve application. MTO is also used in cleaning and degreasing agents to remove grease and oil from machinery. Additionally, it serves as a paint thinner, adjusting viscosity for smoother application.
Packaging Type
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Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Density (15°C) |
770-800 kg/m3 |
| Gravity (30°C) | 0.855-.875 |
| Final Boiling Point | 240-245°C |
| Kin. Viscosity (40°C) | 0.01-3.00 |
| Mix Aniline Point | 8-14 |
Applications
Mineral turpentine oil, also known as white spirit, is a versatile solvent used in various industries. It is commonly employed as a paint thinner, brush cleaner, and surface degreaser, effectively removing grease, oil, and adhesive residues. In the industrial sector, it aids in degreasing machinery and can help remove rust or provide corrosion protection for metal surfaces. It is also used in wood treatment products, such as polishes and preservatives, and can be found in certain cosmetic formulations, perfumes, and even insect repellents. Additionally, mineral turpentine is used in the textile and rubber industries, and occasionally in aromatherapy, though it should be handled with care due to its strong fumes and potential health risks.
The pricing of Mineral Turpentine Oil is influenced by several factors, including raw material costs such as crude oil fluctuations in supply and demand within industries like paints, coatings, and adhesives, as well as external elements like geopolitical events, trade tariffs, and energy prices. These factors combine to create variability in pricing depending on global economic conditions.
Regional production plays a significant role in Mineral Turpentine Oil pricing. Regions with high production, like Asia-Pacific, tend to have more competitive pricing due to local availability, whereas regions that rely on imports, such as North America and Europe, often face higher costs due to transportation fees, import duties, and potential supply chain disruptions.
The latest pricing trends for Mineral Turpentine Oil often reflect fluctuations in the cost of raw materials and changes in global supply chains. To secure better rates, procurement heads can consider locking in long-term contracts with suppliers, monitoring global price trends and indices, and optimizing bulk purchasing strategies to take advantage of volume discounts.
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