Glyoxylic Acid Prices, Trend, Monitor, News & Forecast | ChemAnalyst
Glyoxylic Acid Prices: During the Quarter Ending December 2023
North American
The North American Glyoxylic Acid market in the current quarter of 2023 displayed a varied landscape. While global product supply remained stable, demand from the cosmetics and personal care sector stayed steady. However, the anticipated increase in Nitric Acid and Ammonia prices impacted Glyoxylic Acid production costs, causing market prices to fluctuate. Compounded by prolonged drought conditions and logistical challenges at the Panama Canal, exports from the USA were delayed, leading to inventory build-up domestically. Nevertheless, buoyed by the robust performance of the cosmetics and haircare industry, especially in anticipation of the upcoming festive season, demand from international markets, notably India, remained robust initially. As November unfolded, prices began to taper off with the seasonal decline in demand.
The persistence of bottlenecks at the Panama Canal, worsened by prolonged drought conditions and recent disruptions in the Red Sea, significantly affected global trade dynamics. Major shipping companies, such as Maersk, adjusted routes away from the Red Sea, opting for longer journeys around the Cape of Good Hope, thereby increasing shipping distances. These complexities contributed to increased port inventories, narrowing the gap between demand and supply, ultimately influencing market trends.
Get Real Time Prices of Glyoxylic Acid: https://www.chemanalyst.com/Pricing-data/glyoxylic-acid-1489
APAC
The Asia Pacific Glyoxylic Acid market witnessed a surge in the initial month of the fourth quarter of 2023, followed by a predominantly bearish sentiment for the remainder of the period. October saw a slight uptick in Chinese Glyoxylic Acid prices driven by strong demand from both domestic and international cosmetics and haircare markets. Enquiries from international markets, particularly India, remained robust, supported by the industry’s optimistic outlook for the festive season. However, as November progressed, prices began to soften alongside declining seasonal demand. Concurrently, rebel attacks in the Red Sea introduced uncertainties in global trade, prompting shipping companies like Cosco and Evergreen to temporarily halt cargo transport along this route. This disruption led to rerouted shipments, delays, and increased port inventories, further influencing market dynamics.
European
The European Glyoxylic Acid market saw bullish trends in the initial months of the fourth quarter of 2023, influenced by rising Nitric Acid and Ammonia prices. Firm demand from Indian and North American markets, driven by upcoming festivities, sustained market momentum. However, as December approached, prices started to decline following the peak seasonal demand. Recent attacks on Red Sea trade routes raised concerns, leading to disruptions and additional fees imposed by shippers, impacting consumer confidence in Asia. Consequently, European inventories surged, aligning supply closer to demand and contributing to overall market downturn.
Get Real Time Prices of Glyoxylic Acid: https://www.chemanalyst.com/Pricing-data/glyoxylic-acid-1489
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