USA Ethoxylated Tridecyl Alcohol Faces Price Rollercoaster Amidst Demand Uncertainties and Economic Turbulence

USA, Texas: From the last few quarters, continued economic challenges have been weighing on the market dynamics of key raw materials employed in the Personal Care industries. Average inquiries from downstream Personal Care industries have been impacting the market sentiments of Ethoxylated Tridecyl Alcohol in the USA. In addition, Brent crude prices have dropped from above $80 a barrel at the start of December, while WTI slipped from over $77, easing the manufacturing costs of Ethoxylated Tridecyl Alcohol.

However, in November, the prices of Ethoxylated Tridecyl Alcohol witnessed a slight improvement on the back of a rise in upstream Palm Oil Prices. Market sources have reported that ahead of the holiday season in China, there has been significant restocking by them, leading to relatively limited supplies for other procuring nations. As a result, manufacturers have raised their prices, and it has been passed on to the manufacturing costs of Ethoxylated Tridecyl Alcohol. Furthermore, OPEC+ has committed to reducing oil production by 2.2 million barrels per day in the initial months of 2024. However, there's skepticism among investors regarding the effectiveness of this cut in reducing overall supply due to projected increased output from non-OPEC nations, potentially causing an oversupply situation next year. The expected drop in Crude Oil prices is further expected to weaken the manufacturing costs of Ethoxylated Tridecyl Alcohol in the near term.

On the other hand, demand from the Chinese market has also not improved much. As per market sources, to strengthen the economic condition in the domestic market, policy support should pivot from backing investment to promoting consumption, narrowing supply and demand gaps of various commodities, including Ethoxylated Tridecyl Alcohol. Furthermore, China experienced its initial yearly drop in crude oil imports in November, decreasing by 9.2%, attributed to elevated inventories and reduced manufacturing activity impacting Ethoxylated Tridecyl Alcohol market fundamentals. Even though OPEC+ consented to reduce output by 2.2 million barrels per day for early 2024, the market's reaction was subdued. Saudi Arabia's recent reduction in the official selling price for Asian markets suggested a sluggish demand scenario.

According to the pricing intelligence of ChemAnalyst, amid the destocking season, procurement volumes of Ethoxylated Tridecyl Alcohol will likely remain at the lower end. Thus, the prices of Ethoxylated Tridecyl Alcohol are expected to remain bearish at the end of the fourth quarter of 2023. The decline in the prices of upstream raw materials is also expected to impart downward pressure on the price realizations of Ethoxylated Tridecyl Alcohol. However, market players also anticipate the U.S. Federal Reserve to cut interest rates by as much as 275 basis points in 2024, fueling recession fears across the nation.