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India para–Nitro Toluene and ortho-Nitro Toluene market faces upward cost pressure backed by roaring freight charges

India para–Nitro Toluene and ortho-Nitro Toluene market faces upward cost pressure backed by roaring freight charges

India para–Nitro Toluene and ortho-Nitro Toluene market faces upward cost pressure backed by roaring freight charges

  • 29-Dec-2021 4:46 PM
  • Journalist: S. Jayavikraman

The values of para Nitrotoluene and ortho Nitrotoluene in India have started to surge after witnessing an incessant fall for last three months. Recently, freight cost from Shanghai (China) to Nhava Sheva port (Mumbai) have turned up to USD 400 per ton, directly influencing the prices of all the imported commodities from China including Para Nitro Toluene and Ortho Nitro Toluene. Low availabilities of cargoes and space shortage on ships have contributed to the exorbitant freight costs. Moreover, local traders have kept the Nitro Toluene prices up to safeguard their profit margins, exerting pressure on downstream consumers. Additionally, volatility in the crude oil values also influence the market dynamics of all the value chain products.

Besides, in China, the Nitro Toluene prices have attained tremendous gains on the back of tight supplies and stable demand from the downstream Dyes and Pigments sector. FOB Shanghai Para Nitro Toluene prices have registered a hike of around USD 100/MT levels week on week. Overall Chinese chemical market has been observing supply crunches due to the dual control policy, as most of the chemical manufacturers had curtailed their production levels up to 50% that have consequently pushed the chemical fundamentals in the region.

According to ChemAnalyst: Para Nitrotoluene and Ortho Nitrotoluene prices are likely to rise further depending upon the current demand supply dynamics in Chinese market. Besides, factors such as continuously increasing freight charges and demand outlook are anticipated to boost Nitro Toluene prices in India.

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