In the final week of April 2024, the price of Linear Alkyl Benzene (LAB) saw a notable increase of USD 5/MT in the US market, driven by improving demand from the downstream surfactant industry and increased queries from overseas markets. The primary catalyst behind this bullish market sentiment for LAB was the rising temperatures in the US and European markets. These warmer conditions led to an uptick in consumption of LAB within the downstream surfactant industry. Warmer temperatures tend to boost demand for surfactants and LAB due to several factors.

Firstly, increased outdoor activities often result in higher levels of soiling, driving up the need for cleaning products. Surfactants, being key ingredients in various cleaning agents, detergents, and household cleaners, experience heightened demand as a result. Additionally, warmer weather stimulates construction activity in both residential and commercial sectors, further boosting demand for surfactants. Furthermore, seasonal variations in temperature typically coincide with heightened consumer spending on household and personal care products, leading to an overall increase in demand for surfactants and LAB-based products which further drove the market during this period. However, it's worth noting that during this period, the feedstock Benzene and upstream experienced a bearish trend, albeit without impacting the price trend of LAB. Nevertheless, in the upcoming week, this decrease in raw material costs may potentially affect the price trend of LAB.

At the close of Q1 2024, both the UK and EU economies witnessed a return to growth, marked by a resurgence in manufacturing activities and a notable acceleration in new orders, reaching seven-month highs as reflected in the Purchasing Managers' Index (PMI). This positive economic trajectory has contributed to a revision in global GDP forecasts for 2024, which have risen from 2.3% to 2.6%, driven by the restoration of consumer confidence.

In the Chinese market, the price of LAB saw a slight increase of around 0.5% in the last week of April 2024. This uptick was attributed to heightened demand from for LAB the downstream surfactant industry, both domestically and overseas, driven by seasonal factors with the onset of the summer season.

Post-Chinese New Year (CNY), container shipping lines adhered to traditional blank-sailing programs, reducing excess capacity on Westbound and Trans-Pacific routes by 35% and 25%, respectively. However, in a departure from tradition, carriers in the latter half of March fully optimized their fleet deployments to accommodate potential surges in pre-festival cargo demand associated with Asian festivals like Ching Ming, EID, Songkran, and Thingyan. Although Asia exports have demonstrated year-on-year growth, the market experienced a softening in early March, characterized by declining spot rates. Despite carriers' inability to implement rate increases in mid-March, plans for rate hikes are slated for April.