The overall market situation of Stearic Acid (Rubber Grade) remained bullish in the US market throughout the second half of December xxxx with prices observing an overall appreciation of approximately xx, as prices of Palm Oil (feedstock of Stearic Acid) also continued to incline with prices appreciating by approximately x.xx which increased production costs. The prime reason for the elevated prices of Stearic Acid is largely attributed to the increased demand from the downstream rubber sector of the automotive industry and inflated freight charges which were recorded to have increased by more than xxx at the week ending December xx, xxxx, with further appreciations expected as base prices are anticipated to increase in coming month by key shipping companies. Recent attack on shipping vessels in the red sea by Houthi Rebels has raised global concerns, which has been putting pressure on insurance costs on sea cargoes. Further,...
