Qingdao (China): The global H-Acid market experienced a significant increase in prices attributed to supply chain disruptions and increased production costs of the commodity, driven by rising prices of the feedstock Naphthalene and Ammonia. Furthermore, the demand for H-Acid from the downstream construction sector increased as well. However, due to the absence of sufficient inventory levels, the H-Acid market experienced a bullish market sentiment.
In May xxxx, the H-Acid market in China witnessed an incline of x.xxx, settling at USD xxxx/MT (FOB-Qingdao), driven by rising production costs despite a sluggish downstream construction sector. This led to higher demand for H-Acid, compounded by insufficient inventory levels. In the feedstock market, Naphthalene prices increased slightly by x.xx, while Ammonia saw a significant rise of x.xxx, contributing to the higher production costs. Furthermore, the supply chain experienced disruptions due to a five-day market closure and heavy rains in...
