For the quarter Ending June 2022
North America
The Hydroquinone market showcased a peak rise in the first half of Q2 2022, followed by price stabilization by the end of quarter-June 2022. Owing to the geopolitical tension (Russia Ukraine war), the upstream Crude price hike affected the feedstock benzene market globally. Also, increased freight charges and rising demand from downstream industries influenced the price of Hydroquinone to surge. Towards the second half of Q2 2022, with ease in freight charges and shipments resurgence, the hydroquinone market went stable after a sudden hike at the beginning of Q2 2022. With the ease in energy prices towards the end of Q2 2022, raw material prices went stable, prompting the stabilization of prices in June.
Asia
During the second quarter of 2022, Hydroquinone prices witnessed a prominent increase in the Asia Pacific region. At the onset of the first half of Q2 2022, the ongoing lockdown in some ports of Asian countries affected the hydroquinone market. The hydroquinone market witnessed price increment owing to a spike in upstream raw material benzene following increased crude oil prices due to ongoing geopolitical conflict (Russia Ukraine war). At the termination of the first half of Q2, the prices of Hydroquinone were recorded to be INR 11090/ton CFR Shanghai with an average inclination of 5.4%. Later with the commencement of June, the prices went stable owing to stable raw material prices, ease in energy prices, and stable demand in regional and overseas markets.
Europe
Hydroquinone prices showed robust market sentiment in the European market. At the beginning of Q2, the costs of Hydroquinone increased due to increased feedstock product benzene; later in February, a sharp rise in the prices was observed. Also, the persistent soaring of fuel prices and the disruption in shipments owing to suspended transportation due to geopolitical tension and resurfacing covid 19 led to a delay in trade, impacting the feedstock and hydroquinone values. Moreover, the upsurge in upstream crude oil owing to the Russia Ukraine conflict also impacted the Benzene market. Towards the end of Q2, the price trend was recorded to be USD 10650/ton FOB Le Havre (France), with an average quarterly inclination of 6.5%.
