German Isopropyl Alcohol Prices Trended Downward in October 2022
- 11-Nov-2022 6:34 PM
- Journalist: Nina Jiang
Hamburg, Germany: Isopropyl Alcohol prices indicate a declining trend on the back of inflated Energy prices, rising inflation, and a persistent war between Russia and Ukraine that affected German market sentiments. Restricted supply appears to be another factor supporting the weak in Isopropyl Alcohol market prices this month. Additionally, Germany's annual inflation rate inclined to 10.4 percent till October 2022, which was the highest on record since 1990.
Despite the nation's baffling situation, Europe undeniably maintains strong market trends. Initially, due to the confrontation between Russia and Ukraine, Europe faced a problem with the natural gas supply. Rising upstream Acetone costs also supported the low price of Isopropyl Alcohol in Germany. Above mentioned factors have been outweighing and driving up operating costs for several commodities. The prices recorded for Isopropyl Alcohol in Germany declined by 3.16 percent.
Moreover, port congestion leading to delays in the shipments also supported the weakened price trends of Isopropyl Alcohol and the European supply chain, already hampered by cargo bunching at the ports since the previous month. Additionally, Energy prices have increased significantly since the war started in Ukraine and have had a substantial impact on the inflation rate, which continues to increase further. Lower customer interest in purchasing Isopropyl Alcohol further kept the prices on the softer side.
According to ChemAnalyst, " In Germany, the price of Isopropyl Alcohol is likely to incline significantly in the upcoming months. Market participants might expect to ease in supply activities. Port congestion might be improved, so the demand from the end-user sector is expected to increase considerably. Further, fewer inventories might result in local suppliers catering to the domestic market's overall demand, propelling them to increase their stock levels to meet the requirements."