Carbon Black Prices to Trace Sharp Uptrend in the US and European Market
- 21-Jun-2022 5:03 PM
- Journalist: Henry Locke
As per the recent assessment by ChemAnalyst, Carbon Black prices have started tracing an uptrend across the US market owing to a prolonged rise in production cost. ChemAnalyst market sources revealed that, due to the intel that major players are going to raise their product prices in the coming months, traders have started revising their product prices for spot purchases.
Recent ChemAnalyst data revealed that Carbon Black prices have risen by around 2% during the second week of June 2022 across the US market. While major key players have also announced to raise their product prices for the North American market.
Cabot, a key player in the Carbon Black manufacturing industry, has recently announced price revision on its all-Carbon Black products in a range of USD 200-400/MT effective from 1st August 2022. These price revisions have come in order to counter prolonged price firmness in raw material oil prices amidst rising inflationary pressure in convertors.
Meanwhile, Orion Engineering has also announced a price increment of around 20% for its all-rubber grade Carbon Black products for North America and Europe, effective from 1st August 2022. This price increment has also been supported by rising raw material costs amidst prolonged inflationary pressure on producers.
ChemAnalyst market sources revealed that traders have already started revising their offers for American and European markets in order to gain better margins on existing inventories. As per the data, a 2.0-2.5% price increment has been observed for the European market during the previous week owing to these ongoing market disturbances.
As per the ChemAnalyst analysis, Carbon Black prices are expected to keep on tracing the uptrend for a coming couple of months, owing to these announcements by key players. However, demand fundamentals for the product are still not up to the mark, while offtakes from new automobile sales have been slow over the past few months. Nevertheless, the replacement tire segment is supporting the current price trajectory for the regional market.