Robust Cost Support Catapults Global Methenamine Market in May 2022

HOUSTON (ChemAnalyst)-Inflationary pressure amidst market volatility due to several reasons has been hampering the global pharma industry for a long time. As per the latest ChemAnalyst data, Methenamine (Hexamethylenetetramine) has risen again during the last week of April 2022 across the global market. The major factors behind these positive price revisions were sudden escalation in crude oil value, putting inflationary pressure on global converters and producers.

Russia Ukraine war and the ongoing pandemic in China have been curtailing the actual economic growth of several major countries. Despite the fact that China has been battling with a sudden resurgence in pandemic cases in the country that has put millions of people under stringent lockdown restrictions, Methenamine prices remained buoyant at USD 1150/MT (ChemAnalyst data shows).

Meanwhile, the Russia Ukraine conflict has made the Russian chemical industry highly sceptical, and traders have been witnessing unprecedented changes in market dynamics due to trade disturbance. As per the insights, many countries have been trying to sideline Russia as a punishment for escalating war with Ukraine, while Russian traders are figuring out new routes to export their products. As per the ChemAnalyst data, Methenamine prices in Russia hovered around USD 995/MT concluding April.

Talking about the Middle Eastern region, under the influence of rising raw material costs, Methenamine manufacturers have raised their offers in order to sustain their profitability, as an acute rise in crude oil value has been pressuring domestic manufacturers since the start of this year. In the meantime, domestic market hiccups due to frequently changing supply/demand fundamentals from the regional as well as international markets have also contributed to these consistent price revisions. As per the data, Methenamine's price was assessed at around USD 1265/MT during this week.

As per the ChemAnalyst analysis, rising raw material costs have been hampering global market dynamics for several commodities, including methenamine. Being a highly utilized product in the pharma industry, it’s a sign of threat for major pharma producers like India. However, as per the insights, current market dynamics are primarily influenced by raw material cost rather than being affected by supply constraints.