North America
The North American Benzaldehyde prices showcases a feeble price trend as price declination in feedstock Toluene market declined the production cost. Benzaldehyde prices show decline in Q4 2023 as the bearish trading activities and high product inventories further pressurized the producers to provide discounts on the bulk purchases.
Exports of Benzaldehyde from US to other North American region weakens due to absence of product demand. The downstream personal care and fragrance market remained in a slump this quarter on the back of potential demand disruption. Suppliers and traders remain skeptical about increasing the prices due to feeble product requirement and retailers complain about limited buyer interest.
North American Benzaldehyde prices fell slightly towards the end of the quarter alongside the underlying futures contract with stockpiling of inventories. Supported by feeble bids and the low operating rate of the ventures due to oversupplies, resulted in sluggish a price trend. Also, the sales of Benzaldehyde from the locale and Mexico and Canada remain extremely slow in the wake of gradual increase in product inventories.
Asia Pacific
In the APAC region, the Benzaldehyde market in the current quarter of 2023 (Q4) witnessed several significant factors that impacted prices. Firstly, oversupply and intense competition among suppliers led to a decline in prices. The market was flooded with an excessive amount of Benzaldehyde, causing an imbalance between demand and availability. This surplus of stock prompted producers and suppliers to lower prices in order to remain competitive. Secondly, the subdued performance of the food and beverage and dye industries resulted in low to moderate demand for Benzaldehyde. These industries experienced a sluggish market during the quarter, further contributing to the downward pressure on prices. In terms of plant shutdowns, no specific information was provided regarding any shutdowns during this quarter. Focusing on India, the country experienced the most significant changes in Benzaldehyde prices. The market in India was impacted by the oversupply and intense competition, leading to a decrease in prices. Additionally, the low demand from the food and beverage and dye industries further contributed to the downward pressure on prices in India. In Dec 2023, the price of Benzaldehyde CFR JNPT in India was USD 1399/MT.
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Europe
When compared with the previous quarter, the price of Benzaldehyde in the European market remains plunged under the influence of limited market bids and low market offers from the downstream enterprises. Most suppliers have ample existing stocks and limited trading dynamics for fresh stock, resulting in a bearish cost support. Europe had seen its lowest Benzaldehyde offers from significant producers with no firmer offers and weak purchasing appetite. The increase in supply, weaker demand, and limited requirement from the downstream ventures has dampened any opportunity for producers to increase prices in Q4 2023. Most suppliers have ample existing stocks and limited trading dynamics for fresh stock, resulting in a bearish cost support. Europe had seen its lowest Benzaldehyde offers from significant producers with no firmer offers and weak purchasing appetite. The increase in supply, weaker demand, and limited requirement from the downstream ventures has dampened any opportunity for producers to increase prices in Q4 2023. In terms of downstream enterprises, the demand fundamentals of Benzaldehyde from the downstream personal care and fragrance industries remain weak with slow market offtakes, declining the product consumption from the end-users.
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