Benzoic Acid import prices in the US began the month of December on a downward trend after the increase that was witnessed in the month of November. This could be tied to the eased supply that was experienced in the exporting countries. This resulted in a loss of pricing power as the producers could not influence the pricing as much as they wanted. This resulted in a downward trend in Benzoic Acid prices and demand side. On the same note, the lack of fresh demand from the market also influenced the fall in the pricing. Further, easing costs of feedstocks and logistics also contributed to easing production and landing costs, so that Benzoic Acid exporters could offer more competitive prices. By end of December, import prices levelled off at weaker levels, erasing all gains of the previous month. Thus, the market of December experienced a supply-demand rebalancing, where market sentiment turned mostly neutral to slightly bearish due to forecast of stability or mild weakness in Benzoic Acid.
