Consistent Rise in Methenamine Prices Threatening Global Pharma Industry
- 01-Jun-2022 3:41 PM
- Journalist: Nina Jiang
The rising raw material cost has been affecting the global pharma industry for a long time, where the prices have been escalating owing to rising inflationary pressure amidst supply instability. As per the ChemAnalyst data, Methenamine or Hexamethylenetetramine prices have risen in China, Saudi Arabia, and Russia during the second half of May 2022.
Global market sentiments have been hampered due to a consistent rise in raw material prices coupled with huge inflationary pressure. At the same time, China was the only country that had been battling pandemic-related uncertainties. The sudden escalation in covid cases in the country changed the overall market dynamics, where high crude oil value kept pressuring manufacturers to revise their product prices.
A China-based trader revealed to ChemAnalyst that disturbed trade activities have hampered the supplies of Methenamine in the domestic market and pushed up prices by around 1% during the final two weeks of May.
On the other hand, Russian players have been trying to keep their offtakes stable by offering discounts. However, as per the market sources, a marginal hike of around 0.8% has been observed for Methenamine in the meantime. Despite all the odds, the Russian ruble has become the best performer as a currency in the world, which has provided some relief to the market players.
ChemAnalyst has also analysed the market trend of Hexamethylenetetramine in Saudi Arabia, which shows that the price has risen by 1.2% in the domestic market. However, the product's demand fundamentals remained stable in the international market, supporting the consistent price rise.
As per the ChemAnalyst analysis, Methenamine prices are expected to remain buoyant with consistent price increments. As the current market scenario is anticipated to remain unchanged by the end of next month, pricing dynamics for the product are likely to keep on tracing an uptrend trajectory.