A Slump in Demand Drive Down the German Meth Acrylic Acid Prices
- 14-Dec-2022 6:48 PM
- Journalist: Patricia Jose Perez
The consumption of Meth Acrylic Acid decreased in the German market with the decline in product purchase activities from downstream paints and coatings as well as the adhesives sectors. According to the suppliers and traders, there was an ample stockpile of the product in the region. The prices of packaging High-Density Polyethylene (HDPE) and Mild Steel (MS) containers for Meth Acrylic Acid were also low, relieving the cost pressure from the product's merits.
The prices of Meth Acrylic Acid decreased by 1.9% in the German market, ranging at USD 2070/tonne Meth Acrylic Acid FOB Hamburg monthly basis, as recorded by the ChemAnalyst pricing team data. Even fluctuations in the feedstock cost of Acetone Cyanohydrin and Sulphuric Acid were observed to weaken in the region, relieving upstream pressure from the price of Meth Acrylic Acid. The procurement of Meth Acrylic Acid in the German market decreased with increased inventories reported by the traders and suppliers. The cost of stabilizer Hydroquinone Monomethyl Ether (MeHQ) used for polymerizing Meth Acrylic Acid was also observed to be fluctuating in the regional market affecting the pricing sentiments.
The freight charges of Meth Acrylic Acid from North Europe to East Asia increased by 2%, which has no impact on the product prices. The import of the product from the Netherlands, China, and the USA decreased for the further production and utilization of paints and coatings in the domestic market. The rapid influx of relet ships is expected to accelerate plummeting day rates in Germany. Large vessels were in the German market, improving the trade and the supply in the region, although the Demand was low.
The shipments were high in the German market, with abundant stock of products in the region with low consumption from the downstream marketplace. As per ChemAnalyst, the prices of Meth Acrylic Acid are anticipated to rise within the German market.