Hydrobromic Acid Prices De-escalate in India at the End of February 2023

The Inorganic Bromides market seemed to be plummeting in India with the traders and suppliers' lowering inventories of Hydrobromic Acid. Although, a 10% soar elevated the shipping container cost in the region to the government's approval of the demerger plan. The logistics industry has risen in the Indian market by 3.6% in the region, supporting the Hydrobromic Acid market.

The market value of Hydrobromic Acid (48%) Ex-Mumbai depleted in India with prices ranging at USD 3080/ton Ex-Mumbai during the week ending on 24 February 2023, as per quoted by the ChemAnalyst Research Team Data. Under the low processing cost, Purified Terephthalic Acid (PTA) device production reduction and maintenance helped the Hydrobromic Acid spot market to vary. Fallen by the decrease of market sentiment and the enthusiasm for terminal inquiry decreased significantly with the margin of PTA supply and demand fluctuation.

The price of Bromine in India was under downward pressure pulling down the prices of Hydrobromic Acid as well. There was a low load in the downstream flame retardants and intermediates industries, a bleak demand, and a lack of smooth shipments in Hydrobromic Acid enterprises. As bromine production increased, the operators were pessimistic and generally unoptimistic. The downstream just needed to purchase, and the willingness to stock was not strong, although the manufacturers were active in shipping, and the upstream support was not strong with narrow operations in the region.

In the downstream flame retardant and intermediate industries of Bromine, production resumed recently, but the demand did not follow up with fertilizer prices, and the upstream sulphur price was consolidated. The fertilizer and Agricultural industry has dropped by 3.2%, driven by pullbacks in PI and UPL industries of 5.4%.

There have been more inventories getting stockpiled with the traders and suppliers. Although, there have been fewer sales generated by the Hydrobromic Acid manufacturing companies overall in the Indian market. However, earnings are forecasted to grow by 14% annually by the fertilizers industry in the region.