The price of Phthalic Anhydride attained some stability after witnessing a bearish trend in the previous weeks. While bearish sentiment still prevails in the market, current equilibrium between the supply and demand prevented any major decline in the prices.
The bearish outlook is supported by declining demand from downstream sectors which gave rise to a decline in supply to prevent any significant losses. Meanwhile, the prices remained flat at USD ****/MT FOB Texas in third week of June.
On the producers&#**; side, costs of production of Phthalic anhydride increased in this week with an increase in feedstock naphthalene prices, adding more pressure on the operational margins. This hike in input prices at a time when downstream demand weakened, especially from industries like construction and plastics, further pinched profitability. Even with the compression of margins, Phthalic anhydride producers opted to...
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