Benzoyl Chloride Prices Rise in China As Market Sees Reduced Inventory
- 14-Feb-2023 4:55 PM
- Journalist: Jung Hoon
The prices of Benzoyl Chloride increased in the Chinese market with fluctuations in the feedstock Carbonyl Chloride cost. In the downstream fertilizer market, prices are high, and the market is stable this week. With decreasing inventories with traders and suppliers, the consumption from the downstream market affected the stock in the regional market.
The market value of Benzoyl Chloride rose in the Chinese market during February, with prices ranging at USD 1520/ton 98% FOB Shanghai as per ChemAnalyst Research Team Data. The market supply of pure benzene in China was moderate, and the downstream market saw a rise in procurement of the product from downstream fertilizer sectors. With rising product consumption, the demand for Benzoyl Chloride also increased within the dyes and dyes intermediates sector.
Oil market bullishness had stalled the trading atmosphere in the China Benzene market. Benzoyl Chloride demand in China remained strong, and prices were competitive, so all transport cargoes in China were well positioned ahead, while South Korean cargoes were primarily blended and disproportioned in the domestic market. Market demand for Benzoyl Peroxide is also increasing as its use in the polymer industry increases, which has boosted prices and given the market a healthy outlook.
The inventories of Benzoyl Chloride decreased with a rise in procurement from the pharmaceutical and dyestuff industry in the region, affecting the market sentiments. Thus, lower stockpiling of products caused the traders to conclude with the rise in prices. Although, freight charges plummeted in the Chinese market, pulling down slight cost pressure. The shipments were enough in the region to trade the products to the importing countries keeping stock availability in the regional countries. The market value of Benzoyl Chloride fluctuates with variations in the global petrochemicals sector. The feedstock cost rise and increased procurement from the downstream pharmaceuticals sector put cost pressure on Benzoyl Chloride prices.
