Fumaric Acid Prices Anticipate a Positive Market Outlook in Q2 2023

After a continuous dip in the prices of Fumaric Acid in the US market for the past few months, the Fumaric Acid foresees an optimistic market situation throughout April 2023. Consistent dynamics in both supply and demand in the local market support the prices for Fumaric Acid. Furthermore, market confidence has declined because of the USA's worsening banking crisis. The price trajectory is primarily driven by Upstream Maleic Anhydride and Benzene prices, which are also likely to influence the Fumaric Acid market situation.

The Fumaric Acid prices in the Chinese provinces are anticipated to record an upward trend backed by increased Upstream Benzene prices. As the Crude Oil prices increased overnight, the market is anticipated to start the month on the higher side. In the previous months, Shandong's demand performance was subpar, and the transactions were bad, keeping the market situation feeble. However, with the onset of Q2 2023, the new production activities and increasing demand from the domestic and international markets will likely keep the market situation favorable. Moreover, at present times, the factories are closing for maintenance, and the inventories of Fumaric Acid in the market are going down, hampering the supply chain. Also, the domestic Maleic Anhydride market is experiencing significant losses, which will eventually influence market sentiments.

Furthermore, in the US market also, the prices foresee an increasing trajectory following the Chinese market. The Fumaric Acid market is likely to witness the hiked-up trajectory on the back of rising upstream Benzene prices. Also, increased energy prices and rising production costs are further likely to support the positive trajectory for Fumaric Acid. Also, rising demand from the downstream end-user sector and a lack of inventories among the market players will influence the Fumaric Acid price trajectory.

According to ChemAnalyst, the prices of Fumaric Acid are likely to increase further in the upcoming months. The rising feedstock Maleic Anhydride and Benzene prices are likely to influence the Fumaric Acid price trajectory.