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Feeble Trading Offtakes Tumble the Global Chloroform Prices

Feeble Trading Offtakes Tumble the Global Chloroform Prices

Feeble Trading Offtakes Tumble the Global Chloroform Prices

  • 11-Nov-2022 2:34 PM
  • Journalist: Nicholas Seifield

Hamburg, Germany- With a slump in Natural Gas and Naphtha prices, Chloroform costs declined in the global market because of feeble interest and deterred market sentiments. Feedstock Methanol prices in Germany have crashed, bringing down the expenses of downstream Chloroform along with rising supplies and low buying activities influencing the cost pattern. Mounting inventories because of drowsy interest constrained the producers to give discounts on the existing cargoes to clear their stocks.

Producers and other significant Chlor Alkali providers have kept trading at lower bids in the European market. The bearish tide has changed alongside lower operating rates and a decline in Chloroform costs. Prices of Chloroform in Germany and the Netherlands also fell with deteriorating demand from the end-user refrigerant industries.

In the USA, the price of Chloroform faced a downward trend this week in the wake of restricting purchasing activities and weak market fundamentals. While depreciating Asian local currencies has made import trading even harder, weakening feedstock prices have also contributed to the losses. With Asia's slow economic growth, the USA's demand for Chloroform remains sluggish. Demand for the end-user refrigerant industry also remains weak. Producers are minimizing their operational rates and inventories to avoid regional stockpiling. With the week ending on 04-November 2022, the price of Chloroform in the USA slipped to USD 674/tonne FOB Texas.

According to ChemAnalyst, the price of Chloroform will decline further, prompted by year-end, when producers try to clear their current stocks. Global Chloroform prices will likely fall further due to sluggish demand and weak consumer buying sentiments. A low bidding environment and declining benchmark contract prices throughout November will also hinder the downstream refrigerant market. Additionally, feedstock Methanol and chlorine prices will fluctuate in the global market, which will have an impact on downstream market dynamics.

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