The Global Scarcity Skyrockets the Price of Methenamine in Russia, China, and Saudi Arabia
- 20-Jul-2022 2:27 PM
- Journalist: Bob Duffler
Despite ongoing uncertainties in the global market, where the threat of recession has been making the market situation worse week over week, Methenamine (Hexamethylenetetramine) prices have risen effectively during the first half of July 2022. This analysis has done for three major global economies, i.e., Russia, China, and Saudi Arabia, for the month of July.
The data revealed that the price of Methenamine has risen in two major exporting countries, Saudi Arabia and Russia. A price increment of around 6% in Russia and Saudi Arabia has been observed within the first two weeks of July 2022, supported by vast market disturbances in Europe due to the Russia-Ukraine war, which has reduced the global availability of the product.
A trusted market source revealed that the burden has shifted to middle eastern countries due to the ongoing war between Russia and Ukraine. Due to this war, supplies from Russia have been reduced to other major countries, as Russia is one of the major producers of Methenamine worldwide. Thus, Saudi Arabian producer has been bearing the burden of a huge demand-supply gap in the global market, that led to a steep rise in the prices of this commodity.
Under the influence of these scenarios, Chinese traders have faced the heat and raised their product prices in the domestic market, despite of slowed economic activities of the country. According to the data, a steep rise of more than 5% has been observed, driven by expensive imports from the international market and global price increments. Furthermore, since the country has recovered from the pandemic-related vagueness, economic activities have become a point of concern, which has dented the market sentiments of the nation.
According to the ChemAnalyst analysis, Methenamine prices will likely remain buoyant in the global market in the second half of the month, as the current market dynamics might not change soon. The ongoing Russia-Ukraine war has already disrupted the global supply chain and eventually induced the threat of global recession. Thus, it would be interesting to see the effect of the worldwide slowdown on Methenamine prices.