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Butyl Acrylate Prices Endure a Downtrend In Asia During Mid-August

Butyl Acrylate Prices Endure a Downtrend In Asia During Mid-August

Butyl Acrylate Prices Endure a Downtrend In Asia During Mid-August

  • 22-Aug-2022 11:59 AM
  • Journalist: S. Jayavikraman

Lowering demand fundamentals have been a major concern for the global market since the threat of recession has risen. As a result of the latest assessment, the Butyl Acrylate price has continued its downtrend in major Asian economies, including India, China, and Singapore, during the mid of August 2022, bolstered by wavering offtakes under the threat of recession coupled with smoothening supplies in the overall Asian market.

In India, Butyl Acrylate prices have depreciated by more than 9%, the highest among Asian countries, primarily propelled by the ongoing threat of recession and cheaper imports from neighboring nations. Although India has gained optimism from arriving festivities in the country, several commodities are still receiving dull demand from respective Asian economies. However, traders are hopeful about demand in India and predict positive change in offtakes from the downstream sectors in the coming months.

On the other hand, a similar price trend has also been seen in China. Meanwhile, domestic Chinese traders have seen prices decline by almost 6% due to the nation's impending recession. During the previous quarter, China suffered a severe decline in economic activities, fuelling concern over the global recession. Consequently, the trend is likely to remain unchanged during this quarter too.

The analysis also exposed the market trend of Singapore and the USA, which shows that marginal price fall has been marked in these countries in the intervening time. However, rising inflation, despite of economic slowdown, has been resisting any sharp price decay in the US market for months.

According to the ChemAnalyst analysis, Butyl Acrylate prices will likely remain dull in China in the coming weeks, as the demand is unlikely to rebound soon. However, Indian traders have hinted that the price may rise in future weeks under the influence of arriving festive season in the country. Additionally, Singapore would follow the trend of other major Asian economies, while the US market may show a significant price hike in the coming winter.

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