Prices of 2-Ethylhexanoic Acid Are Declining Globally Except China, why
- 10-Jun-2022 10:58 AM
- Journalist: Li Hua
From the beginning of this month, a slight dip in the values of 2-Ethylhexanoic Acid has been seen in every global market. But in China, prices of 2- Ethylhexanoic Acid is seen accelerating in the domestic trade market.
According to the Chemanalyst data, the values rose marginally by 1.5% in the Chinese market, but in the Indian market, the values declined by almost 1.3%. In June only, prices depressed slightly by almost 1% and 0.6% in the manufacturing Asian countries, Japan, and Malaysia, respectively. Similarly, the values remained weak and dwindled in other international markets like USA, Brazil, and Germany. The prime reason for the fall in the values of 2- Ethylhexanoic Acid globally is the waning demand for materials in downstream industries.
On the other hand, in China, recently, the lockdowns have been released, and the previous stock of materials needs to be cleared, so exporting activities are intensifying in China after the opening of the Shanghai port at the beginning of the month. Manufacturing and trading activities started to rebound in the Chinese market, and previous losses need to be recovered, so the prices are upward. Also, high freight costs are boosting the prices in the region.
Recently the annual Duanwu or dragon boat festival in China caused labour shortages, and trading activities remained stagnant that week. Hence, the price of 2-Ethylhexanoic Acid remained firm in the first week and rose subsequently. However, upstream values are low in India due to Russian Oil imports, and because of this reason, trade values are less in the Indian market than in China.
Chemanalyst experts are assuming that the trade prices of 2-Ethylhexanoic Acid can fluctuate in the coming weeks, and it is most likely the values will incline upward. Demand for materials in the Chinese market is anticipated to be consistent, and trade activities will escalate in the Chinese market.