The Isophthalic Acid market in the USA has entered March with a bearish trend in prices, on the back of subdued market sentiment.
The Isophthalic Acid market has been struggling with excessively high inventory levels. In terms of domestic production, the operating rates remained high, thus adding to the existing inventory level. This has created a situation where the existing supply significantly outbalanced the downstream demand. Given the weak market situation, sellers aggressively offered discounts, in an attempt to optimize the current inventory levels. Thus, they had to lower their pricing targets for March. As a result, the final prices of Isophthalic Acid CFR Texas were closed at USD xxxx/MT in the week ending xth March.
Moreover, shipping container rates from Asia to both the USD coasts fell in Early March. The prices on the Asia-US West Coast route declined by xx.xx to USD...
