Silicone Oil prices continued to remain subdued in December amidst festive demand and strong retail and manufacturing results posted by major economies in November. Prices were assessed in the range of USD x,xxx/MT on an FOB basis and USD x,xxx/MT in China and US markets, respectively, indicating a decline of xx on a month-over-month (MoM) basis. Furthermore, feedstock prices deflated in China and the USA, while they remained stability in Europe due to steady natural gas prices. Despite high inventories in the EU, negative cost pressure for Silicone Oil persisted throughout the month.
In European markets, Silicone Oil prices plunged by xx due to declining demand sentiment, attributed to the continual contraction in EU manufacturing, lower operating capacities of the plants, and a weak consumer market. While supply challenges persisted in European markets due to high riverine water levels, the major challenge of weak consumer demand persisted...
