The US Triethanolamine Prices Continuous following Uptrend in March 2024

In the first half of March 2024, the Triethanolamine market in the US witnessed a consistent price increase driven by the severe shortage and production delays across the USA. Key players in the primary Triethanolamine market experienced a surge in operational costs and low inventory levels.

The overall market sentiment remained positive, with the sellers offering high priced material originating by limited production rates. Furthermore, the Triethanolamine in the US market prepared for the potential uptick for March 2024 owing to the supply disruption. A major disruption in the US market and skyrocketing prices with an extended Force Majeure in the US Dow chemicals acted as the driving force for Triethanolamine as it impacted the inventory situation in the USA. Despite a lack of significant market-driving force in short-term supply and demand dynamics, potential capital outflows may occur due to adjustments in position limits within the futures market.

The Triethanolamine enterprises in the US market amidst modest stock availability and limited regional supplies. High input costs prompted market participants to drop the inventory levels to alleviate profitability pressure. Consequently, Dow Chemicals in the USA underwent Force Majeure for two consecutive months of 2024 leading to a major shortage of inventories of Triethanolamine in the global market. In the USA, Dow Chemical Company at Seadrift (USA) underwent a Force Majeure with a total production capacity of 5417 TPM for 26 Days in February 2024 amidst sub-freezing weather conditions. Moreover, Indorama, a primary Triethanolamine producer in the USA raised the prices in February 2024.

The Triethanolamine traders adjusted their quotations based on the availability of stocks in warehouses. During this season, the prevailing weather conditions present ongoing challenges for terminal operations in the exporter country USA. In the US market, terminals are experiencing a rise in fog and wind occurrences, intermittently causing disruptions. Traders are actively monitoring weather conditions throughout the entire continent and developing contingency plans to minimize disruptions to the customers' supply chains.

From the demand perspective, the Triethanolamine demand in the downstream construction industry slowly gained momentum during  March 2024 amidst persistent low domestic inquiries in the USA. However, the rise in the downstream industry production and reduction in inventory balanced each other out, causing a shift in the supply of Triethanolamine within the industrial chain.

As per the ChemAnalyst, The Triethanolamine prices in the US market are likely to observe a marginal change, as the downstream manufacturers and traders in the region have taken a cautious stance for the coming weeks of March 2024.