Supply and Demand Deaccelerates the Indian Market Sentiments for Benzyl Chloride
- 21-Dec-2022 12:29 PM
- Journalist: Jacob Kutchner
Traders and Suppliers noticed that Benzyl Chloride prices have plummeted in the Indian market. The weakened production rates of Benzyl Chloride have crashed companies' budgets which have been brought down, presenting an opportunity to cut supply costs for retailers and manufacturers looking to move their goods.
The prices of Benzyl Chloride decreased in the Indian market, with prices ranging at USD 42/tonne Ex-Mumbai with a weekly de-escalation of 1.8% (USD -0.18) as recorded by ChemAnalyst pricing team data. The prominent factor causing the fall of Benzyl Chloride prices in India is the decreasing demand for end-use products in the Paints & Coatings and Pharmaceutical industries.
The price of feedstock Toluene and Chlorine fluctuated in the Indian market, relieving cost pressure from the product's price. The demand for Benzyl Chloride products has decreased, and the supply chain will excel eventually. The Crude oil prices have gone low, reducing the cost of all products, due to which the demand for Benzyl Chloride in the domestic market dropped drastically. The supply chain of Benzyl Chloride was high in the Indian market, with lower consumption of the product.
The demand for Benzyl Chloride from downstream Fertilizers and the Pharmaceuticals industry decreased, affecting the market sentiments. The supply of Benzyl Chloride to the region was more from the exporting countries as there was an abundance of shipments available. The inventories in the market were surging with the traders and the suppliers during the period due to lower consumption.
Carriers of Benzyl Chloride across the freight sector are trying to maintain equilibrium by cutting capacity in line with softer demand. The freight charges in the Asian region have declined by 8% as sourced by traders. A freight market marked by diminishing demand and lower prices will present opportunities for shipping customers to get their logistic budgets back in order if the underlying direction of the product from consumers and factories holds up.
