Demand Lacklustre Pulls Down the Global Triethanolamine Prices in August 2022
- 12-Aug-2022 1:57 PM
- Journalist: Robert Hume
The global market has been ambiguous for the past few months, as traders have been facing disturbances in trade activities while witnessing fluctuating demand patterns. As per the recent assessment, the Triethanolamine price has slipped in the European and American markets during the first week of August 2022.
Data shows a decline of around 1.8% has been witnessed by convertors of the Belgian market, owing to lacklustre demand amidst the looming threat of a rise in natural gas prices. According to the market players, despite input costs rising since the Russo-Ukrainian war escalated, Triethanolamine prices have showcased a significant fall during July, which extended to August 2022. However, the global threat of recession has also remained a significant factor behind this price trend across Europe.
Since the input cost has heightened across Europe, regional economic activities have slowed down and affected the demand fundamentals of several commodities, including Triethanolamine. As per the data, the German market has witnessed a slump of around 1.5%, supported by low offtakes from domestic buyers. The pricing trend shows that the Triethanolamine price had been on an uptrend until June 2022, which later encountered its first fall in July.
On the other side, the USA has also witnessed a similar market sentiment during this timeframe, where prices remained weak under the influence of gloomy demand. A Houston-based market source revealed to ChemAnalyst that the market movement shifted in a different direction when the central government announced a revision in interest rate in the country. The decision led the economic activities to slow down, which was essential to calm the inflationary pressure in the country. However, market activities were already slow due to high raw material costs, and traders opted for the wait-and-see approach.
As per the ChemAnalyst analysis, Triethanolamine prices are expected to remain dull throughout August 2022, owing to slow demand in the overseas market. However, rising upstream natural gas prices might become a concern for procurers, which may change the pricing dynamics in the coming months.