For the Quarter Ending June 2022
In North America, the prices of C10 Solvent were stable during the second quarter of 2022 due to escalating demand from the downstream petrochemicals market. On the back of sluggish demand and limited offtakes from domestic buyers, C10 solvent prices tumbled across the Indian market, as expected. Under global market fundamentals, the Indian market was uncertain, leading major consumers to remain cautious about new offtakes. The niche market also remained muted as it had already anticipated a sluggish demand from the global market. Due to the dented demand from the domestic market, C10 prices have declined this month despite firm crude oil prices. While the domestic availability was sufficient to satisfy the country's overall needs, the Indian paint and coating industry has yet to regain significant momentum. The low availability of shipping containers also affected the price of C10 Solvent in the country, despite the smooth inflow of cargoes.
The prices of C10 Solvent fell in the Asian market during the second quarter of 2022, with a quarterly escalation of 5.1% in India, as recorded by Chem Analyst pricing team data. Refineries were aggressively driving up prices, the naphtha market was doing well, and there was more demand for terminal olefins and reforming. The naphtha market is trading well, refineries are actively boosting, and the need for reformed and terminal olefins has increased. In early May, the domestic asphalt market increased sharply after the festival; the price rose rapidly in an abbreviated time. The main reason is that international crude oil prices fluctuate at a superior level, consistent with the scale of the entire oil and gas industry chain. On the other hand, at present, the supply of some refineries is small, and the collection in the market is scarce. The asphalt futures market continued to rise, which also fuelled the bullish sentiment in the broader asphalt market.
The prices of C10 Solvent were observed to be stable in the European market during the second quarter of 2022, with ongoing fees of upstream feedstock Naphtha and fluctuating costs of Crude Oil. Fluctuating product demand from the downstream lubricants, adhesives, and oil sectors supported this trend in the regional market. The inventories were increasing, and a higher number of products were stockpiled with the traders and the suppliers as the consumption were steady. Disruption in supply chain values in the region due to the ongoing war between Russia and Ukraine affected the market sentiments. Freight charges were observed to be varying in the area.