Chloroform Prices Hike as a Result of Unexpected Shift in Market Dynamics
Sudden plunge in prices of feedstock Methanol as an outcome of disrupted supply from Iran vastly contributed in awakening the dull market of Chloroform. Chloroform is a petrochemical commodity primarily utilized as a solvent in pharmaceuticals and resin industry. Chloroform market has been experiencing bearish buying sentiments due to low demand and outpaced supply in the domestic market. After prolonged stagnancy in Indian market, tightened supply of Chloroform from China as an outcome of Coronavirus outbreak has been a silver lining for the domestic manufacturers to boost the domestic sales. Moreover, surge in Methanol prices also played an appreciable role in pushing Chloroform prices up by around 3.8 per cent.