chemical Prices

Since 2020, global market dynamics have been challenging to predict for everyone, where pandemic-related uncertainties coupled with energy-related issues and so on disrupted all the usual trends. Pandemic-related uncertainties were seeming to be getting vanish from most of the major economies and industrialists were started expecting normalcy in market dynamics. Contrary to market expectations, a new global disturbance has arrived in the shape of war. The Russia-Ukraine conflict has exaggerated to a level that it has started disturbing pricing dynamics of most of the chemical commodities on the globe. ChemAnalyst has analyzed all the possible scenarios that may arrive in the global oxo alcohol market in the coming months due to the war situation going on in Europe. On the back of this ongoing war, global crude oil prices have already started rising and touched the mark of USD 105/barrel. However, nations like India have indicated to release strategic oil reserves to support the domest...

In Europe, the styrenics market was heard to be operated moderately with the cost of $2420/ton HIPS FD Hamburg and $2245/ton GPPS FD Hamburg. Feedstock Styrene market was also slowed down where the prices were observed to be $1770/ton Spot Ex-Hamburg and $1640/ton CFR Hamburg. However, the prices are still on the higher end with the volatile crude and Natural Gas market. Rising energy costs and market tightness helped the prices to remain boosted. Lower styrene settlement was unarguably the critical reason for the seller's milder pricing strategy in February. The month-to-month contract settlement followed lower benzene contracts in the midst of volatile energy costs. Despite the fact that accessibility is yet to improve considerably, numerous players hope to see improvement in supply levels as provincial makers lift force majeures and continue production at their Polystyrene plants. A few purchasers, who engaged with import material in the previous months, are waiting for the app...

  In US, the prices of Methanol slipped to $630/ton FOB Louisiana with a week-on-week declination of 1.6%. However, the price of feedstock Natural Gas has surged to $4.67 per MMBtu. The cost of Methanol was reduced due to its weak derivative market where the prices of Acetic acid demand was deterred affecting the prices of Ethyl Acetate, Formaldehyde and MTBE market. In the US, the price of Acetic acid slipped to $1409/ton FOB Louisiana and $1390/ton FOB Texas. At the Algonquin Citygate, the trading center and the benchmark at the Natural gas cost in New England, averaged $20.55 per million British thermal units (MMBtu) during January 2022-the most elevated month to month average price since February 2014-and surpassed $28/MMBtu on a several days as a part of a pattern of price spikes this winter. On the other hand, Methanol prices were reduced due to slashing demand. Local producers had reduced the prices due to feeble demand and moderately operating downstream enterprises. Howev...

European markets have been observing a consistent downtrend in Ethylene Propylene Diene Monomer (EPDM) rubber market dynamics owing to stagnant demand patterns from downstream industries. EPDM rubber market has deteriorated since the beginning of the quarter in lieu of strengthening supply fundamentals and rising inventory levels. EPDM rubber prices were assessed on the 2nd week of February and were placed at USD 3750 per MT on an FOB basis. Prices have declined by more than 9.3% since the conclusion of Q4 2021. Stagnancy in the automotive industry continues to plague several upstream industries including the tire industry. Global chip shortage has been persistent in the last few quarters and that has culminated in stagnant production levels worldwide. Consequently, the demand for Original Equipment (OE) tires has also been severely and this, in turn, has resulted in stabilization in tire production levels. The tire industry has been heavily reliant on replacement tire consumption and...

Styrene markets in Europe have taken a tumble after mainly continuing an upswing in the previous four months, with February styrene prices settling down USD 56/tonne. Initial February bids were lower than expected, owing to declining demand and easing availability concerns. Lower Styrene settlement was unquestionably the driving force behind February's milder pricing policy. Lower upstream Benzene contracts, as well as unpredictable energy prices, prompted the monthly contract settlement.  From January, two big Styrene producers offered Polystyrene offers with reductions of around USD 45-80/tonne, but market reductions of roughly USD60-70/tonne were more common. Falling energy prices in January, according to one big producer, resulted in a greater decline in the values of the Styrene drop. However, there is some optimism about stock replenishment activities on the demand side. Prices are still inflated, preventing customers from being influenced to buy as much as they can. Stronge...

Monoethylene Glycol prices in Europe have started the new year on a firm note, and the MEG market has further strengthened in February stemming from the consistent rise in upstream Crude oil and Natural gas prices. In the latest assessments on the 2 nd  week of February, European MEG prices have increased by USD 40 per MT on an FD basis. Meanwhile, demand from polyesters has remained robust stemming from optimum consumption levels from apparel, clothing, and other segments. Polyester staple fiber (PSF) and Polyester filament yarn (PFY) markets have been optimistic on the back of healthy buying sentiment in the European region. Crude oil prices have climbed significantly since the beginning of the year and both ICE Brent and WTI crude were traded in excess of USD 90 per barrel in February. Continuous climb in crude oil prices have resulted in strong cost pressure and culminated in refiners opting for robust prices for derivatives. Natural gas prices have also been in the uptrend o...