Pyridine Prices Trend Continues to Witness a Steady Rise in Asian Market
- 21-Jun-2022 8:28 AM
- Journalist: Peter Schmidt
Pyridine prices have demonstrated a slender uptrend in the Chinese market since the preceding week. The steady demand from the consumer end, coupled with the tight supply of the product from the regional market, prompted the pyridine prices. Additionally, raw material costs have also been affecting pyridine prices.
The domestic market has been facing stabilized demand from the consumer end, which in turn resulted in a slight increase in the pyridine prices. Also, the use of Pyridine as an intermediate in the pharmaceutical industry, particularly for the manufacturing of antimicrobial and antiviral drugs, has emerged during the pandemic situation, consequently driving up the prices of Pyridine in the local market.
Furthermore, the Russia-Ukraine war inflicted the upstream crude oil prices, which further altered the raw material costs, notably crude coal tar, forced pyridine prices to follow the upward momentum in the domestic market. Hence, pyridine prices rose by approximately 1% in the third week of June.
Furthermore, a trader based in China revealed that the new lockdown restrictions in Shanghai after the outbreak of a resurgence of Covid cases in Beijing, along with the tight supply of the raw material, have been the other factor for the high pricing of Pyridine in the local market.
Pyridine prices have witnessed a stable trend in the Indian market on the back of the sufficient availability of the product coincided with consistent demand from the downstream Agrochemical sector for the fabrication of Insecticides and Pesticides. Overall, the domestic demand appears stable amidst Indian monsoon seasons.
Additionally, the resilience of the fuel prices on the Indian market due to reduction in excise duty and ease in the price movement of raw material despite excessive stockpiles also significantly impact the pricing of Pyridine in the local market. As a result, in the preceding weeks, the price of Pyridine was slightly raised by 0.5%.
According to ChemAnalyst prediction, “Pyridine prices are likely to increase in the forthcoming weeks, backed by further growing demand from the end-user pharmaceutical as well as from Agrochemical sector. Meanwhile, high energy costs along with a tight supply of the raw material may impact the Industrial activities. In addition, new lockdown restriction in China further caused the supply chain disruption across the Asian region."