In the global market, particularly in Europe and the US, Alkyl Amine prices remained stable while Asian market witnessed a surge throughout the first half of May. This stability in the Alkyl Amine price is mainly attributed to the unchanged demand and supply balance from suppliers. In the feedstock market, Methanol prices have remained steady, whereas Ammonia prices have continued to fall. The downstream market is facing reduced demand and sales, leading to no significant changes in inventory levels during this period. These factors combined have contributed to the stability of Alkyl Amine prices in the global market.

In the US market, Alkyl Amine prices stabilized during the first half of May. The ISM Manufacturing PMI in the United States fell to 49.2 in April 2024 from 50.3 in March, missing market expectations of stabilization. Alkyl Amine supply remained adequate. According to the Xeneta Shipping Index, US imports experienced a significant decline in April, with the XSI falling by 9.4% to 150.6 points. This marks a substantial 67% decrease compared to April last year, when it was at 451.5 points, and is the lowest the index has been since April 2021. Many US shippers operate on one-year contracts from May 1st to April 30th, leading to significant fluctuations in the index between April and May. In the US downstream market, demand for Alkyl Amine in the Agrochemical sector has weakened, while there has been a slight uptick in the Personal Care sector. Nevertheless, demand in the Pharmaceutical and Paints & Coatings sectors has continued to be strong.

In the Chinese market, Alkyl Amine prices surged by the third week of May. Asian Methanol prices remained mostly steady as China observed the Labor Day holidays in the first week of May, followed by subdued activity in the second week due to a lack of firm bids from suppliers. However, significant buying activity was observed from suppliers after the holiday sessions. The Chinese chemical sector is experiencing increased demand, with rising exports of chemicals to European countries. The official NBS Manufacturing PMI in China decreased to 50.4 in April 2024 from a 12-month-high of 50.8 in March, slightly below market forecasts of 50.3. Despite this decrease, it marks the second consecutive month of expansion in factory activity, reflecting ongoing efforts from Beijing to stimulate economic growth. In the downstream market, the Agrochemical sector is experiencing lower demand, while the Pharma sector is witnessing increased demand, particularly with a rise in exports to Europe. Conversely, the Rubber and Polymer market is facing decreased demand. Despite these fluctuations, the production capacity across Chemical manufacturers surged during this period.

According to ChemAnalyst, the price of Alkyl Amine is anticipated to follow a bearish trend in the upcoming sessions in the US and European market. This expectation is primarily driven by the projected decline in Methanol and Ammonia prices in the near future. The ample availability of Alkyl Amine inventories, coupled with diminished demand, is likely to lead to reduced production of Alkyl Amine. These factors will play a crucial role in influencing the price of Alkyl Amine, contributing to the expected downward trend.