For the Quarter Ending December 2022
North America
In the fourth quarter of 2022, the price of Methenamine in the United States decreased in response to the falling cost of feedstock Ammonia in the market. Orders from the procurers remained moderate, and the pharma industry demand was stable due to ample stock availability of the product. The stagnant global market in Q4 continued to affect the domestic and international markets. According to the players in the market, the majority of the purchases were based on demand. The approaching holiday resulted in further declines in buyer demand and orders during the fourth quarter.
APAC
During the fourth quarter of 2022, there was a mixed-price trend for Methenamine in Asia. In November, the price of Methenamine rose due to the tight supply of the product from traders. The resurgence of COVID cases in China disrupted the supply chain, affected demand for export activities to overseas markets, and eventually led to an economic slowdown. To keep cases under control, the Chinese government implemented a Zero COVID policy, which slowed trading and reduced orders from end-use industries. The price of Methenamine decreased in December as a result of the steady supply from traders and adequate ground availability.
Europe
In Europe, the price of Methenamine decreased in the fourth quarter of 2022. The negative price trend of Methenamine was bolstered by the sharp decline of feedstock Ammonia in Europe. The repercussions of the Russia-Ukrainian war still persisted during this quarter, and the supply chain remained disturbed. Due to the slowdown in trading activities in importing countries like China, more products are left in Russia, and the merchants have stockpiled the product in the market. Because the product was readily available, there was less demand from the downstream pharmaceutical industry. Because there were no significant port congestions in Europe, product movement was smooth, and freight costs were reduced.
For the Quarter Ending September 2022
North America
The price trend of Methenamine observed mixed market sentiments in the North American region throughout the third quarter of 2022. The high demand from the downstream Pharma Industry led to an increase in the price of Methenamine in the region. The orders from purchasers were high due to increased consumer consumption, which supported the price movement of Methenamine. The supply chain was disrupted, and good deliveries to the destination were delayed due to the port being congested in the USA during the third quarter. As a ripple effect, the cost of Methenamine was settled at USD 1510/MT during the quarter ending in 2022.
APAC
The price of Methenamine observed mixed sentiments in the Asian market throughout the third quarter of 2022. During the first two months of the quarter, Methenamine witnessed a decline in the market due to short supply from Europe due to the supply chain disruption caused by an ongoing war between Russia and Ukraine. The demand from the Pharma industry was high, and insufficient supply of the product further increased the price of Methenamine. The last month observed a downward trajectory due to adequate inventory from the traders and stable supply to the market. The cheaper imported cargo from Russia dipped the price in the Chinese market. The average cost of Methenamine hovered around USD 1280/MT on an Ex-Shandong basis during the quarter ending of 2022.
Europe
During the third quarter of 2022, the Methenamine price witnessed mixed sentiments in Eurozone throughout the quarter. In the first two months of the third quarter, Methenamine's cost was upward due to high demand from downstream Pharma industries. Russia is one of the largest manufacturers of Methenamine globally. The war between Russia and Ukraine has limited the supply to the importing countries, and the supply chain was disrupted in the region. The production cost was high due to high natural gas prices. The last month of the quarter showed a decline in the market due to increased product availability. The manufacturers have quoted lower offer prices due to high availability in the region and moderate demand from the Pharma industry. The average price of Methenamine was settled at USD 1148/MT on a FOB Novosibirsk basis during the third quarter of 2022.
For the Quarter Ending June 2022
North America
North American Methenamine prices remained buoyant throughout Q2 2022, owing to rising raw material costs amidst stable demand from the international market. The Houston-based market source revealed that the price of several pharma-related raw materials kept rising throughout the quarter, where the huge burden of inflationary pressure remained the key driving factor. Furthermore, sudden price increment in natural gas during the second half of the quarter, driven by the ongoing Russo-Ukrainian war, also affected the pricing dynamics of the product across the US market. In addition, demand dynamics for the product from the downstream pharma sector also supported the frequent offtakes from the domestic and international markets.
Asia
After witnessing a consistent hike for over a couple of months, Methenamine's price remained stable in the domestic market during June in Asia. As per the insights, market players remained anxious about demand fundamentals for the product from the Chinese market, as pandemic-related uncertainties did not vanish from the domestic market. Further, high raw material costs remained a prime factor in previous consistent price revisions in the country. In addition, rising inflationary pressure has also remained a matter of concern for key players, despite mild demand fundamentals from the domestic market.
Europe
Despite all the disruption across Europe's regional market, demand fundamentals for the product remained stable throughout the quarter. As per the market sources, being an important part of global supplies, Russian players kept their supplies stable for the global market while rising upstream costs kept on hampering overall pricing dynamics for the global market. War-related volatility has been stressing the supply chain of several commodities across the European and US markets, leading to unnecessary price hikes. In addition, domestic players are also trying to improve their margins by exporting cargoes at higher prices.
For the Quarter Ending Quarter March 2022
North America
High inflationary pressure has been a major concern for North American players since January 2022. Demand fundamentals for the product remained stable to firm, as the economic activities maintained overall firmness throughout the quarter. Since the Russia Ukraine war escalated, US and other major economies took harsh decisions on Russia, making it harder for the country to trade worldwide. These decisions affected global market dynamics and made several things expensive due to fuming raw material cost. Thus, under the influence of high raw material cost, Methenamine price rose consistently and stood around USD 1310/MT during February 2022 in the USA.
Asia Pacific
Mixed sentiments for Methenamine were observed in Asian market during Q1 2022. In the Chinese domestic market, the prices of Methenamine continued to rally upwards during the last two month of the quarter as the discussion for CIF was assessed at USD 995 per MT in the mid of February. These price hikes were supported by the regional rise in prices of upstream Ammonia, followed by the rising natural gas prices along with soaring container fees and sanctions against Belarus. The increased energy prices, along with the disrupted supply of raw materials and high logistical costs, were other factors that have contributed to the surge in Methenamine prices across Asia. As the markets in China were slowly gaining momentum after the Spring Festival holidays, the prices were expected to increase further in March, which was disrupted by sudden rise of another wave of the pandemic in the country.
Europe
The prices of Methenamine continued to hop upwards in Europe consecutively for the second week of February on the back of the spike in the feedstock prices. After witnessing a hike of 1.9%, the discussions for FOB Russia for Methenamine culminated at USD 938 per MT during the mid of February. The skyrocketing upstream Ammonia prices followed by high costs of Natural gas has exacerbated the price trend of Methenamine in the Russian domestic market. Country’s market sentiments were depressed under the influence of ongoing war, demand fundamentals for the product were stable across domestic market. Furthermore, taking pressure from hefty sanctions imposed by key economies, Hexamethylene Tetramine price maintained an over stability due to trade disturbance. Furthermore, Ruble has been falling consistently against the USD since the beginning of the war, which affected trade dynamics of the country.
