High Inflation Causes Global Methenamine Prices to rise Again in August 2022
- 10-Aug-2022 3:50 PM
- Journalist: Robert Hume
The recent analysis shows that Methenamine (Hexamethylenetetramine) price has risen in the global market during the first week of August 2022, and multiple factors have been supporting these price dynamics across the globe. Recent assessment for Methenamine shows a significant hike in price across Russia, Saudi Arabia and China entering August.
The data shows, Methenamine prices have improved marginally during the first week of August 2022, despite slow demand from the domestic market. As per the market sources, low demand from China's domestic market has not been letting domestic players revise their offers to a greater extent. The pricing dynamics for Methenamine have been on an uptrend in the global market due to high inflationary pressure amidst stable demand from the downstream pharma industry.
The major exporting country 'Russia' has also raised their offers by 2% for the global market during the first week of this month, owing to stable demand from the international niche buyers amidst prolonged trade disturbances in the regional market. As per the intel, high production cost has been a significant factor behind any price revision in commodities coming from Russia. However, some traders benefit from supply shortages across the global market and revising their offers for international buyers.
On the other side, Saudi Arabian players have not experienced similar market sentiments, as the prices in the domestic market remained unchanged during the first week of this month. However, traders have hinted that they might change their offers to a similar extent by the end of the next week of the month. Additionally, demand dynamics for the product remained unchanged in the domestic and international market, as the demand fundamentals from the pharma industry barely changed.
According to the ChemAnalyst analysis, prices will stay buoyant in forthcoming weeks across Russia, China and Saudi Arabia under current market scenarios. However, prices may gain stability for at least two weeks, owing to pilling up ongoing uncertainties.