Benzoyl Chloride Prices, Monitor, Analysis & Demand

North America

In Q4FY23, benzoyl chloride prices in the USA exhibited a mixed trend, remaining stable in October with moderate demand and steady feedstock benzene. The stability was influenced by factors such as a moderately positive demand outlook. November and December witnessed a drop in prices in the USA market, attributed to low feedstock benzene and weakened demand.

The Israel-Palestine conflict's initial impact on oil prices reversed, with limited effects on USA economies. December saw further price declines due to sluggish demand despite excess benzene supply. Despite anticipated low demand and concerns about geopolitical tensions rerouting oil tankers, some remain optimistic about improvements in 2024, suggesting a potential positive shift in the macroeconomic landscape.

The overall outlook, however, remains negative, reflecting the intricate interplay of economic factors, geopolitical events, and market dynamics shaping benzoyl chloride prices in the USA market. Further, December marked a decline in benzoyl chloride prices as manufacturers strategically destocked, aiming to make room for new inventory. As of December, Benzoyl chloride prices in USA were assessed at USD 1002per MT, FOB Louisiana

APAC

In Q4FY23, benzoyl chloride prices in the APAC region displayed a varied trend, initially declining in October due to weak support from crude oil and lower feedstock benzene prices, subsequently rebounding. The October decline was influenced by oversupply in the market, exacerbated by China prioritizing its domestic fertilizer market, restricting exports and causing a drop in prices. Major chemical companies like Dow, Eastman Chemical, and Huntsman reported decreased sales and earnings in Q3, citing lower volumes and reduced prices, particularly in construction, agrochemicals, coatings, adhesives, and industrial markets. The domestic supply of benzoyl chloride remained stable, meeting optimal production rates, yet with lower demand from downstream agrochemicals. November and December witnessed a price increase as construction in coke companies decreased, and despite lackluster domestic demand, importing countries showed increased procurement, impacting prices. The beauty and personal care market growth in China, coupled with consistent investments in the aromatics sector and collaborations with major players like ExxonMobil, contributed to heightened demand. The supply-demand imbalance led to reduced inventory levels, causing upward pressure on prices, despite a decrease in feedstock benzene costs. Overall, market dynamics reflected a combination of global and domestic factors influencing benzoyl chloride prices in the ASAP region. As of December, Benzoyl chloride prices in China were assessed at USD 1240/MT FOB Qingdao.

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Europe

In Q4FY23, benzoyl chloride prices in Europe experienced a mixed trend, initially rising in October due to elevated feedstock benzene and a moderately positive demand outlook. The persistent inflation issue in Europe saw a decline, raising hopes for consumer relief and potential economic stability. Domestic production showed improvement, driven by advancements in manufacturing, but annual figures remained lower. November witnessed a drop in prices in the Netherlands market, attributed to low feedstock benzene and weakened demand, reflecting the declining manufacturing activity in the Eurozone. The Israel-Palestine conflict's initial impact on oil prices reversed, with limited effects on European economies. December saw further price declines due to sluggish demand despite excess benzene supply. Despite anticipated low demand and concerns about geopolitical tensions rerouting oil tankers, some remain optimistic about improvements in 2024, suggesting a potential positive shift in the macroeconomic landscape. The overall outlook, however, remains negative, reflecting the intricate interplay of economic factors, geopolitical events, and market dynamics shaping benzoyl chloride prices in the European market. As of December, Benzoyl chloride prices in Netherlands were assessed at USD 875 per MT, FOB Rotterdam.

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