US Tetrahydrofuran Prices Continue to Revive in February 2023
- 28-Feb-2023 6:15 PM
- Journalist: Patricia Jose Perez
Texas- The US Tetrahydrofuran market prices continued to witness an inclining trend towards the mid-quarter of 2023 on the back of strengthening downstream sectors. In the second month of 2023, Tetrahydrofuran prices were pushed forward by the elevating feedstock Butanediol cost and a slight incline in the industrial operational rate. In the fourth week of February, the final prices of Tetrahydrofuran ranged between USD 2100 to 3100 per MT, FOB Texas.
A percentage of the larger-than-anticipated increase in fundamental capital goods orders that the Commerce Department published on Monday, which knocked off the two months of price falls, was probably the result of higher pricing of Tetrahydrofuran in the recent month. It added to the positive economic picture of the strong consumer expenditure and labor market figures. Apart from major facets governing the prices of the Tetrahydrofuran market, minor components such as forecasted unusual weather conditions have threatened the manufacturers and suppliers to place and complete the upcoming and pending work.
The US ports are also facing a slowdown in container discharge from domestic ports as the compiled containers hampered the trading volume. According to the official data published by the US government, the decline in import quantity was oppressed in the domestic market leading to supply shortages with tetrahydrofuran end-use businesses. This decline and limited availability of Tetrahydrofuran with end-use businesses (spandex and PTMEG) hampered the production rate in the country. The textile and spandex market in the US is recovering, and the trading volume is near the pre-pandemic level. Most of the demand strength was observed from Asia and a few European countries, such as Italy and France. As per ChemAnalyst, the final price of Tetrahydrofuran is expected to follow the positive trend with a stagnant pace in the country. Trading quantity in the US market has risen as the Asian market has inclined the industrial operations and raised the trade-off section.