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Divergent Regional Dynamics Influence Global Trends in Methenamine Market
Divergent Regional Dynamics Influence Global Trends in Methenamine Market

Divergent Regional Dynamics Influence Global Trends in Methenamine Market

  • 28-Jun-2024 4:37 PM
  • Journalist: Francis Stokes

Methenamine prices have exhibited a mixed trend in the global market disrupting supply/demand situation. In China, prices have increased due to high demand, whereas in the Russian market, prices have remained stable due to the impact of sanctions.

In the Chinese market, Methenamine prices have seen a 1.1% increase, climbing from USD 925 per metric ton to USD 935 per metric ton. This price rise reflects a broader upward trend in Methenamine prices driven by heightened demand during the summer season. Interestingly, this increase has occurred despite the declining and stable prices of key feedstock for Methenamine such as Formaldehyde and Ammonia. The pharmaceutical sector in China has remained moderate, yet Methenamine prices have continued to rise. This was attributed to the growing demand from the food additives market. At the same time, India is grappling with efforts to reduce its reliance on Chinese active pharmaceutical ingredients (APIs), adding another layer of complexity to the market dynamics. Consequently, the prices are staying on the higher end, propelled by the increasing demand in these specific sectors.

In Russia, Methenamine prices have remained stable, influenced by several factors, including the ongoing sanctions against the country. These sanctions, initially imposed in 2014 following Russia's annexation of Crimea, have now been extended until June 2025. The measures include prohibitions on importing products from Crimea and exporting certain goods and technologies to the region. The sanctions have placed significant downward pressure on the pharmaceutical sector in Russia, contributing to the stability of Methenamine prices. Despite ample stock levels at ports, there has been low demand for exports, leading to a quiet market with minimal price fluctuations in Methenamine prices. Additionally, market activities have largely paused, and no significant price actions have been taken, further contributing to price stability. Furthermore, the stability of feedstock prices has supported the stable Methenamine prices. The cost of raw materials has remained on te lower end, allowing production rates to stay unchanged. This lack of change in production conditions has played a crucial role in maintaining stable Methenamine prices in Russia.

According to ChemAnalyst, the price trajectory of Methenamine is expected to continue its upward trend in the coming weeks. This increase is driven by higher demand from the food additives industries, as well as the pharmaceutical sector, coupled with low inventories in the global market. Consequently, the market price of Methenamine is predicted to rise. In contrast, prices in the Russian market may remain constant due to the recently extended sanctions against the country. These sanctions, which complicate the export of commodities, are likely to keep Methenamine prices stable in Russia despite global trends.

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