Despite the Decline in Feedstock Ammonia Prices, Global Methenamine Market Observes a Stable Trend
- 18-May-2023 5:20 PM
- Journalist: Emilia Jackson
In the second week of May 2023, the global market experienced fluctuating prices for Methenamine while the price of its feedstock, Ammonia, declined rapidly. In Europe and Asia, the feedstock prices dropped by approximately 3% and 1.5%, respectively, while in the Middle East, prices were stable. The global market had an abundance of feedstock supply, but the demand from downstream industries was low.
Methenamine prices have been stable in China since the country mainly imports the product from Russia, where prices have likewise remained stable. This consistency in Russia influenced the price of Methenamine in China. Overall, the product's price was affected by the smooth flow of shipments from overseas and stability in the global market's cost.
The price of Methenamine in Saudi Arabia experienced stability in its cost during this week due to moderate demand from overseas and the domestic market. The product supply in the country was almost stable, and no barrier in the production of Methenamine was observed during this period. In Saudi Arabia, the prices were stable for three weeks as no new fresh orders were observed, and the market was straight in terms of demand and supply.
The balanced gap between demand and supply majorly influenced the price trend of Methenamine in Russia. During this period, the demand for the product from overseas, such as China, was observed to moderate, while the demand for the product from the downstream pharmaceutical industry was also stable in the Russian market. The demand for the product was anticipated to be high by some traders for this period under the expectation of improving economic activity. The pharmaceutical market in Russia holds a prominent position globally and stands as the largest market in the Central and Eastern European (CEE) region in absolute terms. It is anticipated that the price of Methenamine may ease in the future as Russia is keen on attracting investment from overseas as part of its effort to strengthen its economy.
According to ChemAnalyst, the price of Methenamine may decline in the second half of May 2023, as the price of feedstock Ammonia is anticipated to decrease during this period under the influence of high supply in the global market.