Rising Demand to Drive Nonylphenol Ethoxylates Prices in Germany
- 02-Jun-2022 6:00 PM
- Journalist: Robert Hume
Hamburg, Germany: The Nonylphenol Ethoxylate prices continued to soar this week in the German market. The inclining export demand has been brightening the mood of domestic manufacturers and exports across the country.
The continual conflict between Ukraine and Russia has severely hampered the market sentiments since February. All the commodity players were dealing with extensive cost pressure and tightened supplies with transportation restrictions. The domestic players were facing difficulties in procuring feedstock as they source large amounts of raw materials from Russia. Additionally, the demand fundamentals from the downstream industries declined, and the consumer buying sentiments were relatively weak in the previous month. Recently, the terminal demand patterns recoiled with healthy consumer spending habits.
Furthermore, the upstream Palm oil value has been reviving since the last week of May in lieu of widening the demand-supply gap of the material in the top producing countries, Indonesia, and Malaysia. Therefore, import prices witnessed a significant rise coupled with rising freight costs had further led the price of upstream to follow an upward trajectory in the German market.
Despite the supply chain disruptions that are looming over the country, the export index rose to 4.5 points which were 3.0 in the previous month. As per our sources, the FOB Hamburg price discussions for Nonylphenol Ethoxylates rose around 3 percent in the current week.
In an interview, one of the traders mentioned that German manufacturers are still cautious, and logistic constraints continue to weigh on them. However, Surfactant manufacturers were anticipating exports to expand progressively in the coming weeks.
According to ChemAnalyst, “the price of Nonylphenol Ethoxylates were to boom in the coming weeks taking support from the rising demand and firm upstream palm oil value. Also, consumption from the downstream surfactant players is likely to increase as the existing inventory levels are reducing day by day.