Increased Inquiries Drive Upward Trend in US Ethoxylated Tridecyl Alcohol Prices in March

Texas (USA): Since the beginning of the first quarter of 2024, prices of Ethoxylated Tridecyl Alcohol have consistently risen in the domestic market of the USA. This upward trend of Ethoxylated Tridecyl Alcohol has been supported by a surge in inquiries from downstream Personal Care industries, strengthening market sentiments. In March 2024, U.S. manufacturing activity exceeded expectations, achieving its fastest growth rate since September 2022.

This development triggered an immediate rebound of the dollar, driven by a shift in expectations regarding interest rates, as traders now anticipate stronger economic data, potentially affecting the timing of rate cuts by the Federal Reserve. The ChemAnalyst database indicates that Ethoxylated Tridecyl Alcohol prices in the USA increased by USD 15 per ton in March. Concurrently, palm oil prices have risen, buoyed by signs of strong global demand, especially from the United States, and optimism surrounding potential rate cuts by the Federal Reserve, despite somewhat sticky U.S. inflation.

Despite the upturn, there has been a strengthening of pricing power, with producers raising their average selling prices at the quickest pace in 11 months in March, passing on higher costs to customers. The inflation rate remains well above the average recorded before the pandemic. Furthermore, Malaysia’s palm oil stocks at the end of February dwindled to their lowest levels in seven months, driven by production hitting a 10-month low, which offset the slowdown in exports.

The uptick in crude oil futures has also made palm oil a more attractive option for biodiesel feedstock, leading to an increase in inquiries. On the other hand, after the completion of the Spring Festival Holidays, manufacturing activities in the Chinese market have picked up. This has led to increased Ethoxylated Tridecyl Alcohol inquiries from downstream Personal Care industries, resulting in bullish market sentiments for Ethoxylated Tridecyl Alcohol.

In March 2024, Ethylene Oxide prices upstream have continued to stay elevated, contributing to the upward trend seen in the price outcomes of Ethoxylated Tridecyl Alcohol. Furthermore, the recent tensions in the Red Sea have had a significant impact on shipping markets. Shipping costs have risen, and goods transportation has been delayed due to increased attacks. Ships now take a longer route around Africa and the Cape of Good Hope instead of passing through the Red Sea, adding seven to 20 days to their travel time.

According to ChemAnalyst's pricing intelligence, Ethoxylated Tridecyl Alcohol prices are expected to continue inching higher across regional markets. The increase in consumption from downstream Personal Care industries is likely to keep Ethoxylated Tridecyl Alcohol market sentiments bullish. The rise in energy prices is also expected to prompt upward pressure on Ethoxylated Tridecyl Alcohol prices. Additionally, the limited availability of finished goods amid active terminal demand is expected to push Ethoxylated Tridecyl Alcohol price realizations to the higher end in the forthcoming weeks.