For the Quarter Ending September 2021
In North America, Benzaldehyde prices retained steadiness during the third quarter. Benzaldehyde market embarked a study demand from the downstream dyes, perfume, pharmaceuticals, and other sectors. Meanwhile, the surge in the upstream Toluene also derived the prices of Benzaldehyde in this timeframe. In addition, the arrival of the Ida hurricane in the Gulf Coast USA impacted the local energy supply comprised of transportation fuel and electricity. Several manufacturers were compelled to shut down their production facilities as a repercussion of hurricane Ida, which consequently fumed the prices of Benzaldehyde. Thus, Hurricane Ida’s massive and unexpectedly prolonged disruption to output in the gulf coast has been surging the prices of various chemicals and their derivatives.
Asian market registered a steep climb in prices of Benzaldehyde during Q3. Meanwhile, the sharp rebound in industrial activities with full efficacy bolstered the demand for Benzaldehyde from the domestic as well as international market in China. Similarly in India, Benzaldehyde prices observed an exponential rise due to the improving demand from downstream sectors along with the Spiraling freight charges. Therefore, Benzaldehyde prices maintained firmness during this quarter in Asian market, supported by the congestion on the several ports of China that led to supply chain disruption. In India, prices soared throughout the quarter, Benzaldehyde Ex Mumbai prices witnessed an increment of USD 191.17/MT from July to September, which settled at USD 1859.16/MT in September.
In Europe, market sentiments of Benzaldehyde continued to be firm throughout the quarter, supported by ample offtakes from the downstream personal care sector. In the beginning of quarter, major European economies pushed up their industrial activities thus, a sharp resurgence in the demand and consumption was observed for Benzaldehyde across the region. In addition, extremely high freight charges, as well as container shortage, led to the lower imports that also contributed to the upsurge in the pricing trend of Benzaldehyde.