Bromine prices in South Korea to remain Firm on Favourable Demand amid Bleak Supply
- 12-Jan-2022 6:00 PM
- Journalist: Jung Hoon
Bromine market has witnessed consistent yet gradual gain across Q4 owing to the favourable demand fundamentals amidst limited supply. As production of Bromine becomes challenging during the winter season, prices usually trace an upward trajectory if the demand is deemed as favourable.
Demand for agrochemicals in South Korea has remained strong in the past few months. As Bromine is largely consumed in the preparation of various chemicals as well as herbicides and pesticides, its prices have traced consistent upward growth. Price growth of Bromine has been linear form October to December, and a rise is likely to continue in the next month as well.
Increasing focus on smart farming solutions in South Korea has been encouraging the use of agrochemicals, thereby escalating the demand for Bromine in the market. Seasonal shortage of the product has impacted the pricing fundamentals consistently. The shortage is unlikely to resolve in the coming weeks due to the persistent weather conditions.
As buyers in the regional market have been heard to have indulged in the restocking activities, prices of Bromine have soared in the major producing countries apart from China as downstream buyers over there have restrained to purchase bulk cargoes, absorbing the unprecedented price hike in October.
Bromine prices in South Korea have surged by nearly 1 percent in the past 1 month. As per ChemAnalyst. “South Korea Bromine prices are likely to continue tracing an upward trajectory amidst sturdy demand and limited supply. With the upcoming cultivating season, prices are expected to remain firm in the coming months as well.”