Steady Prices of Chloroform in USA Market

The prices of Chloroform continued to be stable in the week ending on 22^nd November 2024. The prices showed slight bullish outlook in the last few weeks. The outlook was influenced by various factors like raw material cost, geopolitical reasons, economic factors, and various other reasons. The prices continued to be steady indicating stable market conditions for Chloroform in the market.

The primary driving factor for the current price trend was the production cost and feedstock market. The upstream market for Chloroform continued to show fluctuations in the past weeks. The crude oil prices rose and dipped while Methanol prices showed bullish outlook in the month of November. The prices of Chloroform followed the same trend as the Methanol market. The demand from downstream pharmaceutical sector remained steady leading to steady consumption of Chloroform in the downstream sectors. The pharmaceutical sector of USA in the month of November remained steady while the demand was also steady leading to the stable market trend in the week while the outlook was bullish. According to the analysts at ChemAnalyst, the prices were assessed at USD 590/MT FOB Texas USA.

In the feedstock market, the prices of Methanol were stable as compared to the previous week. The crude oil prices showed volatility in the previous weeks. The crude oil prices declined in the week putting downward pressure on the downstream petrochemical market including Chloroform, but the prices of the product were not impacted by the volatility of crude oil prices. The market for the product was steady amid effective management of inventories by the market players. The demand and supply dynamics remained balanced which also contributed to the stable prices in the week. The procurement of Chloroform was also moderate which supported the stable price trend. The production of Chloroform remained moderate as availability of feedstock was average with no significant increase in the production cost and no supply disruptions. The market was primarily influenced by feedstock cost fundamentals and demand fundamentals which remained steady.

Looking further, the price of Chloroform is expected to show bullish outlook amid increased feedstock cost in the coming weeks. The prices would majorly be influenced by crude oil market and Methanol market reflecting the scope of fluctuations. The prices may also be influenced by geopolitical tensions and potential stringent environmental regulations by the government after the formation of new government may change the demand and supply dynamics and lead to fluctuations in the Chloroform market.