Hamburg (Germany): During the initial week of February xxxx, the Ethylene Dichloride (EDC) market witnessed a substantial surge in prices, experiencing a x.xxx increase from USD xxx/MT in the third week of January to USD xxx/MT. This notable uptick in EDC prices correlates with the continuous upward trajectory observed in upstream crude oil prices within the country over the past few months.
Suppliers have actively participated in the accumulation of EDC inventories, contributing to the observed price surge during this specific period. The escalation in EDC prices aligns with global trade concerns arising from threats to critical Middle Eastern trade routes. The surge in ocean freight rates has presented a considerable challenge for shippers, necessitating the exploration of viable alternatives for transporting goods from China to Europe. This challenge is further exacerbated by disruptions resulting from attacks on the Red Sea, a vital ocean...
