Global Acetonitrile Prices Plummet in April 2023 Owing to Muted Inquires
- 22-May-2023 7:11 PM
- Journalist: Motoki Sasaki
The cost of Acetonitrile fell across the global market following weak end-user demand and upstream prices. The reduction in the Consumer Price Index (CPI), gloomy demand, and consistent drop in energy prices were some of the factors that affected the current market growth of Acetonitrile in the overseas market.
Acetonitrile prices decreased in the APAC region, particularly in China, as a result of the poor demand from the pharmaceutical and other chemical end-user industries. Acetic Acid costs decreased for raw materials, which further supported the price trend of Acetonitrile. Additionally, the market sentiments for Acetonitrile have worsened due to the declining upstream crude oil prices brought on by recessionary fears and sluggish demand. The business had little market demand and mediocre sales. The manufacturer's quote was reduced to encourage shipments because the market activity was slow and downstream assistance was minimal. Also, there were no supportive forces in the market and little buying activity, so the price of Acetonitrile kept falling.
Similarly to that, prices of Acetonitrile constantly fell in the Belgian market, and its prices fell due to an adequate supply, low utilization of downstream production capacity, weak demand, poor on-site pickup, and a lack of supportive factors in the market. It is anticipated that the market for Acetonitrile will continue to be weaker until the end of April due to the oversupply scenario, and particular attention should be made to downstream follow-up. Additionally, throughout the month, there was an adequate supply in the upstream market to match the demand for the final product, Acetonitrile.
According to ChemAnayst anticipation, "Acetonitrile's price is likely to increase somewhat in the overseas market, notably in Belgium, the US, and the APAC regions. Supply from domestic merchants may be sufficient to meet demand from the downstream industry. In terms of its uptakes, the industry would see a positive trend. In addition to the effect of buying up sentiment, the quotation of Acetonitrile producers from other areas is anticipated to increase, leading to improved trading and an upward trend in Acetonitrile prices.