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US import prices of Benzoic Acid witnessed an upward adjustment in April ****, driven by firmer FOB Shanghai quotations and tightening export availability from China. The price rose by *.**, reflecting a short-term strengthening in Chinese domestic sentiment, which directly transmitted into higher landed costs in the United States import market. Seasonal demand from food and beverage preservation industries in China and steady pharmaceutical intermediate consumption supported this firmness, as Benzoic Acid producers prioritized export commitments over spot domestic sales.
In addition, the early stocking up process that took place before summer in the US food processing industry contributed towards boosting the import requirement of Benzoic Acid, thus intensifying the effect of low availability of Benzoic Acid in Asia. In terms of transportation, according to the market players, there was a lot of fluctuation in global shipping...
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