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European Polyol Market Rebounds Amid Moderate Demand and Affliction in Productions
European Polyol Market Rebounds Amid Moderate Demand and Affliction in Productions

European Polyol Market Rebounds Amid Moderate Demand and Affliction in Productions

  • 13-Feb-2024 2:45 PM
  • Journalist: Emilia Jackson

The Polyol price has gradually surged in the European region in the past few weeks as the production rates were affected by high energy costs and weak availability of feedstock supplies due to high risks of supply chain disruptions amid the ongoing tensions in the Middle East after a missile attacked an oil tanker on the coast of Yemen, which increased the ship traffic on the other routes. It raised the cost support on the production costs of Polyol. Simultaneously, supply rates were affected by supply chain disruption and increased ship traffic at ship routes due to attacks on the vessel and Oil tankers passing through the Red Sea in the Middle Eastern region.

According to ChemAnalyst data sources, the Polyol price Polyether MW 3000, μ 400-650 FOB Hamburg in Germany witnessed USD 1840/MT at the end of the week concluded on 9th February 2024.

In the prime month of 2024, the Polyol price trend remained stable in the region amid moderate demand and supply dynamics. At that time, the previous stocks of Polyol were sufficiently available in the market, and prices witnessed a negligible decline of 0.1% during the month amid a shift in offtakes from the buyers.

As per the sources, in the prime month of 2024, the Eurozone's manufacturing Purchasing Manager's Index indicated some improvement and rose marginally due to an increase in new orders, indicating a slowdown in the contraction of the manufacturing sector activities. However, it remained below 50 amid a decline in new orders and output rates. Initially, the demand for Polyol was sluggish from the downstream Polyurethane industries amid declined orders from the manufacturing sector due to an increase in the production costs of wood furniture in the region. Meanwhile, the inquiries for Polyurethane foam and coatings improved from the Automotive manufacturers from the second half of January 2024 due to an escalation in orders for electric vehicles after Tesla and BYD reduced their prices.

As per the estimation, the Polyol price trend will escalate further in the upcoming weeks as the demand for the materials will remain firm from the end-user industries. At the same time, the availability of Polyol supplies will remain tight amid delays in supplies due to affliction in supply chain activities. Furthermore, the anticipated increase in the feedstock Propylene Oxide costs due to the stressed availability of feedstock supplies in the region will raise the cost support on the production costs of Polyol.

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