In the USA, the producers did not change their Pentaerythritol quotations in the recent weeks as the market did not showcase any significant improvement in inquiries, and consumption rates remained moderate from the downstream industries. The availability of previous stocks was adequate in the market as heavy rainfall increased the water levels of the Panama Canal and improved shipping activities in the past week. The market sentiments were stable for Paint swelling agents, while the inquiries were firm for food thickening agents from the regional food sector due to an increase in food production during the past month. On the contrary, the Pentaerythritol orders continued to remain low from the insecticide manufacturers due to depressed demand for agrochemicals from the agriculture sector during winter. Simultaneously, the declined orders for Polyurethane foam manufacturers as the demand for Polyurethane slightly cooled down in the Automotive industries due to production halts of gas vehicles amid new regulations in the region.
Simultaneously, the cost support on Pentaerythritol remained consistent, attributed to the stability in feedstock Formaldehyde prices observed over the past few weeks. This stability can be traced back to the moderate availability of feedstock, a result of reduced production rates in the country during the New Year holidays. Additionally, there has been a concomitant decrease in exports to importers and limited purchases from buyers, further influenced by an uptick in freight costs. Pvc Powder
Similarly, in Germany, the market did not showcase any significant improvement in Pentaerythritol inquiries amid the ongoing economic slowdown in the region, and consumption rates remained moderate from the downstream industries amid adequate availability of supplies. The consumption rates were stable for Paint swelling agents, while inquiries were moderately low for food thickening agents from the regional food sector amid a decline in the food sector sales index by 0.5% on a MoM basis during the past month. Meanwhile, the Pentaerythritol orders continued to remain low from the insecticide manufacturers due to depressed demand for agrochemicals from the agrochemical sector during winter. Conversely, there has been a surge in orders for Pentaerythritol originating from Polyol industries. This uptick in demand for Polyurethane can be attributed to a gradual acceleration in the Automotive sector. The increase in new registrations and sales, particularly following Tesla's announcement to offset the withdrawn subsidies by the European Government on Electric Vehicle (EV) vehicles, has contributed to this heightened demand.
Furthermore, the cost support was stable on feedstock Formaldehyde prices due to the moderate availability amid affected imports in the country because of a rise in supply chain concerns through the Suez Canal amid the conflicts in the Middle East region. Houthi Rebels in Yemen attacked the vessels in the Red Sea, causing an increase in ship traffic and commercial vessels rerouted to the Cape of Good Hope. Simultaneously, the import costs of the upstream Methanol spiked during the week due to limited purchases from buyers amid an escalation in the freight costs.
At the end of the week concluded on 26th January 2024, the Pentaerythritol (PENT) FOB Texas and Pentaerythritol (PENT) FOB Hamburg quotations in the US and Germany hovered at USD 1880/MT and USD 1340/MT, respectively.
As per the estimation, Pentaerythritol prices will decline in the international markets amid the availability of supplies and moderate to low demand from the end-user industries.
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