For the Quarter Ending September 2024
North America
In Q3 2024, the North American market for C10 Solvent experienced a notable decline in prices, primarily driven by limited demand across key end-user industries. The sluggish activity in sectors such as paints, coatings, and adhesives significantly impacted consumption levels. This reduction in demand created a challenging environment for manufacturers, leading to increased competition among suppliers eager to maintain market share.
Compounding the situation was the ample inventory of C10 Solvent available in the market. Many producers had built up stock in anticipation of higher demand, but the expected consumption failed to materialize. As a result, the surplus inventory contributed to downward pressure on prices, as suppliers were compelled to offer more competitive pricing to move excess stock. This oversupply situation further exacerbated the already weak market conditions.
By the end of the quarter, the prevailing sentiment in the North American C10 Solvent market reflected ongoing concerns about demand sustainability. The combination of limited consumption and high inventory levels not only facilitated a decline in prices but also underscored the need for manufacturers to reassess their production strategies in light of the shifting market dynamics.
APAC
In Q3 2024, the APAC region faced significant challenges in the C10 Solvent market, marked by a downward trend in pricing. This decline was driven by a confluence of factors, including bearish market sentiment, subdued demand from downstream sectors, and stable feedstock prices. These elements collectively pressured market prices lower, with Singapore experiencing the most pronounced fluctuations. Throughout the quarter, the offtake for C10 Solvent remained particularly low, especially within the paints and coatings industries, which are major consumers of the product. This weak demand resulted in a 2.5% decrease in prices compared to the previous quarter, further reflecting the broader market dynamics at play. Year-on-year comparisons painted an even more concerning picture, with prices for C10 Solvent dropping by 13% relative to the same quarter in the previous year. By the end of the quarter, C10 Solvent prices FOB Jurong in Singapore were recorded at USD 1010/MT, underscoring the prevailing negative sentiment in the market and highlighting the ongoing challenges faced by producers and suppliers in the region.
Europe
In Q3 2024, the European market for C10 Solvent encountered significant challenges, marked by a persistent decline in prices. This downward trend was primarily influenced by reduced demand from essential industries, with the paints and coatings sector experiencing notable slowdowns. The combination of weakening consumption and high production rates led to an excess supply situation, where efficient supply chains further facilitated the accumulation of stock. Anticipatory stocking in expectation of seasonal maintenance shutdowns added to this oversupply, resulting in intensified downward pressure on prices. Germany emerged as a key player within this landscape, experiencing the most pronounced price fluctuations, which reflected broader trends across Europe. Interestingly, despite the overall decline in C10 Solvent prices throughout the quarter, Germany saw a slight increase of 2% compared to the previous quarter. Year-on-year comparisons revealed a striking 35% increase in prices, illustrating the volatility within the market. By the quarter's end, C10 Solvent prices were recorded at USD 1362/MT FOB Hamburg, highlighting the complexities of the prevailing pricing environment and the factors contributing to the downward trajectory.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American C10 Solvent market experienced significant price fluctuations due to several key factors. Prices for C10 Solvent increased this quarter, driven by higher production costs, robust demand from the construction sector, and ongoing global geopolitical tensions.
Elevated crude oil prices raised production costs, pushing market prices higher. Additionally, challenges in the global freight industry, such as rising freight rates and shipping delays, further increased the costs of importing raw materials and finished products. In the USA, the market saw the most notable price changes, reflecting strong demand across various sectors, including construction.
Despite a decrease in C10 Solvent prices compared to the same quarter last year, there was a modest rise from the previous quarter of 2024, indicating a recovery phase. A slight increase was observed between the first and second halves of the quarter. Overall, despite rising production costs and fluctuating demand, the market sentiment remained positive, fostering a stable and cautiously optimistic pricing environment.
APAC
In Q2 2024, the pricing environment for C10 Solvent in the APAC region has demonstrated a consistent upward trajectory. This quarter has seen significant factors influencing market prices, particularly the increased cost of feedstock crude oil, which has escalated production costs. The heightened demand from the downstream construction and paints and coatings industries, spurred by seasonal factors, has also propelled prices upward. Supply chain disruptions, including logistical challenges and high freight rates, have further exacerbated the supply constraints. OPEC+ production cuts and geopolitical uncertainties in critical shipping routes have compounded these challenges, adding to the bullish price trend. Focusing exclusively on South Korea, the country has experienced the most notable price changes in the APAC region. The overall trend has been bullish, driven by a surge in demand from the automotive and construction sectors. Seasonal factors, such as increased construction activity during the warmer months, have further amplified this demand. Correlation in price changes reflects the broader regional dynamics, with South Korea's market closely mirroring the tight supply and high demand seen across APAC. Comparing the first and second halves of the quarter, a marginal price increase of 1% underscores the steady upward momentum. The percentage change from the previous quarter in 2024 is recorded at 5%, indicating a positive pricing environment. The latest quarter-ending price for C10 Solvent FOB Busan stands at USD 1041/MT, reflecting a stable and increasingly bullish market sentiment. Despite the disruptions and supply chain constraints, the market has navigated these challenges, resulting in a progressively positive pricing environment for C10 Solvent in South Korea. This quarter has been marked by resilience and sustained demand, underscoring the robust market dynamics at play.
Europe
In Q2 2024, the European market for C10 Solvent observed a significant uptrend in pricing, driven by various factors. The quarter was marked by heightened production costs, primarily due to a consistent rise in feedstock crude oil prices and elevated global freight rates. Moreover, the downstream construction sector exhibited robust demand, contributing further to the bullish pricing environment. The chemical industry's reliance on stable supply chains was tested by logistical disruptions, which exacerbated the cost pressures. Despite these challenges, supply chains remained moderately stable, although constrained by higher import costs and delayed shipments. In Germany, the impact was most pronounced, with C10 Solvent prices reflecting a marked increase. The German market experienced significant seasonal fluctuations, with the summer months boosting demand from both the construction and automobile sectors. This seasonality, coupled with underlying economic improvements, contributed to a consistent upward trend in pricing. Observing a 15% price rise from the previous quarter, the German market demonstrated resilience amid a bullish sentiment. The comparison between the first and second halves of the quarter indicated an 8% price escalation, underscoring the persistent demand and constrained supply dynamics. The quarter concluded with C10 Solvent prices standing at USD 1436/MT FOB Hamburg, Germany. This positive pricing environment underscores the significant influence of external factors such as crude oil prices and freight rates on the C10 Solvent market in Europe. The absence of major plant shutdowns further buttressed the stable supply, despite the ongoing logistical challenges. Overall, the European C10 Solvent market in Q2 2024 exhibited a robust and bullish trend, driven by substantial cost pressures and strong downstream demand.
For the Quarter Ending March 2024
North America
Throughout the first quarter of 2024, the price of C10 Solvent exhibited an overall bearish trend in the North American market. During this period, the US market experienced a significant price decline for C10 Solvent, largely due to increased imports from overseas offering more competitive pricing.
Additionally, demand from the downstream Paints and Coating industry weakened following the festive seasons. The domestic market maintained ample product supply, including inventories at ports. This surplus, combined with subdued demand in the downstream sector and heightened selling pressures, contributed to the market's bearish trajectory. Towards the end of the quarter, the normalization of the Red Sea crises, declining freight rates, and improved product supply further supported the bearish trend in the US C10 Solvent market. Notably, the construction industry saw positive growth, with annual statistics revealing a 14% increase in completed houses compared to February 2023.
Real estate developers remained active, evidenced by an 11.3% rise in newly constructed houses listed in February 2024. In summary, the first quarter of 2024 witnessed a downward price trend for C10 Solvent in the North American market, driven by increased imports, weakened demand in the paints and coatings sector, and favourable developments in the construction industry towards the quarter's end.
APAC
The Q1 2024 pricing environment for C10 Solvent in the APAC region has been largely stable, with some fluctuations in specific countries. Various factors influenced market prices during this quarter. One significant factor was the cost of feedstock Crude Oil, which had a direct impact on C10 Solvent pricing. The price of Crude Oil experienced fluctuations, driven by factors such as increased production in certain countries and concerns about oversupply. These fluctuations in Crude Oil prices had a ripple effect on C10 Solvent prices. South Korea, in particular, experienced the maximum price changes during this quarter. The market in South Korea witnessed a rise in C10 Solvent prices in February, influenced by the upward trajectory of Crude Oil prices. However, prices declined in subsequent months due to abundant availability of the product and off-demand winter season. The South Korean market also saw a temporary slowdown in manufacturing activity during the Lunar New Year festivals, affecting overall industrial output. Overall, the pricing trend for C10 Solvent in the APAC region during Q1 2024 has been bearish, with low to moderate supply and low demand. Market sentiment was influenced by factors such as the Red Sea crises, the Chinese Lunar New Year, and seasonal factors. The price of feedstock Crude Oil played a significant role in shaping pricing trends. The latest quarter-ending price for C10 Solvent in South Korea was USD 1000/MT FOB Busan. Despite fluctuations throughout the quarter, the pricing environment has been relatively stable, with prices ending at a similar level to the beginning of the quarter.
Europe
In Q1 2024, the European market for C10 Solvent experienced a relatively stable pricing environment. Demand and supply levels remained closely matched, resulting in minimal fluctuations in prices. The cost of feedstock Crude Oil, a key factor influencing C10 Solvent prices, rose by approximately 5% during the quarter. Initially, product prices surged due to limited availability, but as the Red Sea crisis eased and freight rates dropped, prices stabilized. Germany, a key market in the region, saw the maximum price changes. Demand from downstream industries, such as paints and coatings, remained consistent throughout the quarter. However, the overall demand from the end-use construction sector remained low. Despite signs of stabilization in the euro area economy, total output volumes saw a marginal decline for the ninth consecutive month, albeit at a slower rate compared to previous months. In terms of seasonality, the winter holiday period had a noticeable impact on consumer behaviour and overall product demand. The traditional winter festivities led to a decrease in purchasing activity, contributing to a subdued demand for C10 Solvent. Looking at price trends within the quarter, prices remained relatively stable with only minor fluctuations. There was a slight increase in prices in February, followed by a slight decrease in March. Overall, the pricing environment can be considered stable, with no significant negative or positive trends observed. The quarter-ending price for C10 Solvent FOB Hamburg in Germany was USD 1230/MT. This reflects the stability in prices throughout the quarter and the balanced market conditions.
For the Quarter Ending December 2023
North America
During the last quarter of 2023, the C10 Solvent market in North America witnessed a decline in prices. The foremost factor contributing to this trend was a decrease in demand, primarily attributable to challenges within the construction industry, leading to diminished buying interest among end-users.
Furthermore, the supply of C10 Solvent remained consistently high throughout the quarter, as manufacturers proactively produced the product in anticipation of future demand. However, the abundant availability of the product in the market exerted downward pressure on pricing. The United States, being the focal point of this analysis, witnessed a substantial downturn in C10 Solvent prices during the quarter. Specifically, the price of C10 Solvent in the USA decrease compared to the previous quarter. This decline was predominantly driven by the confluence of low demand and ample supply in the market. Additionally, the year-on-year comparison reflected a decrease in prices for the same quarter of the previous year.
The prevailing pricing trend in the USA during this quarter was profoundly influenced by the aforementioned factors, collectively contributing to a bearish market sentiment. In summary, the market dynamics for C10 Solvent in North America during the fourth quarter of 2023 were predominantly shaped by low demand, ample supply, and a discernible downward pricing trend in the USA.
APAC
In the fourth quarter of 2023, C10 Solvent market experienced a bearish trend in the APAC region. The top three factors that impacted the market were the decline in global crude oil prices, low demand from the downstream industries, and improved supply levels. The global crude oil prices experienced a steep fall, leading to a decrease in the prices of C10 Solvent. Furthermore, the low demand from the domestic and international markets exceeded the available supply. There were no reported plant shutdowns during this period. In South Korea, which experienced the most significant changes in C10 Solvent prices, the market trend was bearish. The supply of the product remained moderate, while the demand was low. The pricing dynamics of the product were primarily driven by the easing production costs. The Consumer Price Index in South Korea increased by 0.6% from the preceding month, indicating that consumers were more willing to accept higher prices for goods and services. The price of C10 Solvent in South Korea at the end of the fourth quarter was USD 1015/MT FOB Busan. This represents a 9% increase compared to the previous quarter and a 7% decrease in price when comparing the first and second halves of the quarter. The price change from the same quarter of the previous year was not mentioned. Overall, the market conditions and factors such as global crude oil prices and demand levels had a significant impact on the pricing of C10 Solvent in the APAC region during the fourth quarter of 2023.
Europe
Throughout the fourth quarter of 2023, the C10 Solvent market in the European region displayed a downward or bearish trend due to low margins and high inflation, leading to pressure on the market. Despite moderate to low consumption, traders raised their offers to improve margins, while upstream prices declined. The demand for Crude oil did not improve as anticipated. Germany experienced a significant rise in C10 solvent prices due to high production costs and inflationary pressure, with demand partially improving from the domestic market. No plant shutdowns were reported in Germany during this period. The price trend in Germany may be influenced by expected hikes in upstream costs, changes in demand due to destocking practices, and improvements in regular buyer queries. Upstream costs and the rise in crude oil prices may support the price trend. In September 2023, C10 Solvent prices in Germany increased by 28.1% compared to the previous month, driven by the surging value of crude oil. The latest price for C10 Solvent FOB Hamburg in Germany for the current quarter is USD 1170/MT.
For the Quarter Ending September 2023
North America
C10 solvent prices in the North American region have exhibited notable volatility, primarily influenced by the fluctuations in upstream crude oil prices. During the third quarter of 2023, crude oil prices followed an upward trajectory, rising from USD 75 per barrel to USD 87 per barrel. This price surge was triggered by production cuts announced by major oil-producing nations such as Saudi Arabia and Russia. However, the demand dynamics for C10 solvent did not mirror this upward trend in crude oil. While the country's economic momentum was gradually regaining strength, the chemical industry did not experience a seamless recovery. Notably, the U.S. chemical industry, which had been grappling with sluggish performance since February 2023, displayed signs of resilience in the third quarter of the same year. Data from the Federal Reserve Economic Data (FRED) revealed an improvement in the Producer Price Index (PPI) for Chemicals and Allied Products: Industrial Chemicals, which increased from 306.840 in July 2023 to 308.028 in September 2023. Consequently, C10 solvent consumption exhibited an upward trend during this period, bolstered by the elevated crude oil prices and the chemical industry's modest resurgence.
Asia
Under the influence of soaring crude oil prices, the C10 solvent market in the Asian region experienced notable fluctuations during the third quarter of 2023. Detailed data analysis indicates that C10 solvent prices in India consistently surged throughout the quarter. In contrast, other Asian economies, such as South Korea and Singapore, witnessed a different pricing trajectory. South Korean C10 solvent prices, for instance, exhibited a remarkable spike of approximately 20% in July 2023. Subsequently, traders made efforts to temper this surging cost in August and September. However, persistent cost pressures on producers prevented significant price reductions, resulting in an overall increase of around 11% during Q3 2023. Similar market dynamics were observed in other Asian economies, including Singapore and Indonesia, where C10 solvent prices closely mirrored the patterns witnessed in South Korea. In contrast, India presented a distinct scenario. Here, prices continued their upward trajectory throughout the quarter, partly attributed to the onset of festive seasons in the country, culminating in a substantial hike of approximately 12% during Q3 2023.
Europe
The European C10 solvent market, much like its global counterparts, witnessed an upward price trajectory during the third quarter of 2023, largely influenced by the persistently high crude oil prices. Throughout this period, C10 solvent prices in Europe showed a consistent uptrend, attributed to increased input costs and a gradual recovery in economic activities. Notably, as per data from Eurostat, the German economy remained in a state of recession, in contrast to several other major European economies that exhibited resilience and achieved overall stability. Concurrently, data from Eurostat revealed an increase in producer prices in the European industrial sector as a whole, rising from 137.1 in July 2023 to 137.7 in August 2023. This indicated an incremental improvement in product consumption within the European market during Q3 2023 and contributed to the overall price uptrend for C10 solvent in the region. However, it is crucial to emphasize that this price surge was primarily underpinned by the heightened crude oil values and the sustained cost pressures on producers, thereby impacting profit margins.
For the Quarter Ending June 2023
North America
During the second quarter of 2023, the North American market was fraught with concerns regarding demand. Rising inflation and unpredictable fluctuations in crude oil prices added to the uncertainty during this period. The North American C10 Solvent market experienced continuous fluctuations, closely influenced by the volatility in crude oil prices. The analysis revealed that the US market faced the looming threat of a recession, leading to reduced demand fundamentals and an overall sluggish economy. The global crude oil (feedstock) value initially rose in the first month of the quarter due to production cuts announced by oil producers. However, this trend reversed, and the feedstock prices steadily declined for the rest of the quarter. Consequently, these dynamic feedstock pricing changes significantly impacted the prices of C10 Solvent in the US market, with C10 Solvent prices showing fluctuations in line with the crude oil value. The uncertain economic conditions also had an impact on the US Producer Price Index by Industry (PPI). The PPI fell from 248.619 in April 2023 to 245.830 in June 2023, reflecting the challenging economic environment during this timeframe.
APAC
During the second quarter of 2023, the C10 solvent prices in Asia remained lackluster. According to the data, prices in India initially increased in April but started to decline for the rest of the quarter. This drop coincided with the onset of the monsoon season in the country and a decrease in the value of raw material crude oil. Market respondents informed ChemAnalyst that the demand for solvents, including C10 Solvent, was moderate, and the pricing trend closely followed the movements in upstream crude oil prices. Similar to India, the Chinese market experienced a comparable sentiment, with international expectations of China driving global demand. However, China's actual rebound fell below anticipated levels. The data indicates that C10 Solvent prices in India declined by approximately 10.5% during this quarter, settling around USD 1042 per metric ton on an Ex-Mumbai basis. The heavy monsoon season in India had an impact on the demand dynamics of various commodities, including C10 Solvent. Additionally, fluctuations in the feedstock crude oil value provided an opportunity for domestic C10 solvent manufacturers to adjust their offers accordingly.
Europe
Throughout the second quarter of 2023, the European C10 Solvent market experienced a continuous decline, primarily attributed to low demand from the domestic market and prolonged market stagnation. The data indicated a sustained downtrend in European C10 Solvent prices during this period, driven by concerns over a potential recession amid the already lackluster market conditions. Furthermore, the data revealed that C10 Solvent prices in India also saw a decline of approximately 10% within the quarter. This drop was mainly influenced by the extended period of sluggish demand due to consistently high inflation in the country. Eurostat's Producer Price Index (PPI: total) showed a decline from 138.3 in April to 136.3 in May, with a similar sentiment projected for June 2023. Moreover, consumer spending decreased during this time, particularly in Germany, as consumers faced inflationary pressures. The economic disturbances within the region led to a decline in imports, further impacting prices. Eurostat's index for Import Prices in Industry had been falling since the fourth quarter of the previous year, adding to the challenges faced by the C10 Solvent market in Europe.
For the Quarter Ending March 2023
North America
Throughout the first quarter of 2023 on the US market, the cost of C10 solvent has been going down. Due to plentiful supplies and US releases of further oil reserves, the price of upstream crude oil has stayed low. These have increased global market supply. At the end of the first quarter, there had been a ten-month decline in new export orders as conditions for overseas client demand remained historically poor. Market participants assert that there has been a reduction in new orders for US products and that demand from downstream paints and coatings has been either weak or unchanged.
APAC
The Asia market for C10 Solvent has seen a dramatic increase during the first quarter of 2023. The sellers attributed the increase in price to the commodity's limited market availability as well as increased demand from downstream businesses. The reasonably high domestic demand for C10 solvent in India and the expensive imported cargo from the global market both contributed to the upward price movement. Additionally, there was a lack of supply to meet the demand from the downstream industries due to tight supply from the traders. There were no apparent port backlogs, according to the market.
Europe
The price of C10 solvent witnessed a downward trend in Europe throughout the first quarter of 2023. The demand for the product was not improved from the downstream industries, and sufficient availability in the market subdued the demand. The upstream feedstock crude oil value was stable to weak in Europe, which led the downstream industries, including C10 solvent. While the global economy's sluggish performance dampens German exports, high inflation rates dampen consumer spending and other key driving sectors' activity by reducing purchasing power and significantly increasing financing costs.
For the Quarter Ending December 2022
North America
This quarter, the C10 Solvent markets in North America and Europe both experienced the same trend. The average demand for this commodity from downstream partners limited upstream production activities. Because this product was readily available in stores, the paints and agrochemical industries were able to meet their production requirements. The product's prices were also affected by the moderate demand for it from other businesses downstream. The price of this product was significantly reduced as a result of the cost of upstream crude oil being reduced as well.
APAC
The market for C10 solvent fell across the entire Asia-Pacific region during this quarter. The price of this product has gone down in China for a number of different reasons. The primary factors that contributed to the price drop were the provincial governments' implementation of Covid-19 curbs and the reduced performance of the crude oil market, both of which contributed to the drop in upstream crude oil prices. In addition, due to average demand, businesses that use C10 solvents in agrochemicals, paints, and printing had to reduce their production rates significantly. During this quarter, India's market for C10 Solvent was comparable to China's. The price of this product was influenced by the average demand from downstream industries for it as well as the product's good availability in inventories, which satisfied the demands of downstream companies for the production of their end products.
Europe
The market for C10 solvent declined in Europe during this quarter. The ongoing conflict between Russia and Ukraine resulted in a significant rise in the prices of natural gas and energy up until the second week of December. Consequently, despite their extreme concern, downstream businesses showed average interest in this product. The market for C10 solvents in Germany and the Netherlands followed similar trends. The same factors that reduced the price of this product in the Netherlands this quarter also contributed to the price drop in Germany. As a result, upstream companies in the whole of Europe had been maintaining moderate production rates.
For the Quarter Ending September 2022
North America
The C10 markets in North America also experienced the same trend as the markets in Europe this quarter. The production activities were hampered by the summer vacation, which caused a labor shortage. Hence, agrochemical industries had to reduce their manufacturing activities, and paint companies limited their production rates. The moderate demand for this product from companies downstream also had an impact on the product's prices, which were influenced by the decrease in costs of upstream crude oil.
APAC
At the beginning of this quarter, the market for C10 solvent experienced a decline across the entire Asia-Pacific region, but it eventually recovered. There were several reasons why this product's price had dropped in China. The Asian crude oil market recession, which led to a drop in upstream crude oil prices and the provincial governments' enforcement of lockdowns, were the primary factors in the price reduction in the early days of this quarter. In addition, C10 solvent-using businesses in the agrochemical, paints, and printing domains were forced to completely halt or significantly reduce their production rates due to severe power shortages. However, the increased demand for this product for downstream processing caused the prices to begin rising from July 1st. India's market for C10 Solvent in this quarter was comparable to China's. The increased demand for this product from downstream industries to meet the festive demands for their end-products had an impact on the price of this product. Hence, C10 solvent closed its market in India this quarter at USD 1,497 per MT on an ex-Dahej basis.
Europe
Europe, in this quarter, saw a decline in the market of C10 solvent. The tight supply of natural gas and crude oil caused by the ongoing conflict between Russia and Ukraine significantly increased production and energy costs. Consequently, downstream businesses displayed only a passing interest in this product despite their extreme concern. In Germany and the Netherlands, the market for C10 solvents followed similar trends. The price drop in Germany was caused by the same factors that lowered the cost of this product in the Netherlands during this quarter.
For the Quarter Ending June 2022
North America
In North America, the prices of C10 Solvent were stable during the second quarter of 2022 due to escalating demand from the downstream petrochemicals market. On the back of sluggish demand and limited offtakes from domestic buyers, C10 solvent prices tumbled across the Indian market, as expected. Under global market fundamentals, the Indian market was uncertain, leading major consumers to remain cautious about new offtakes. The niche market also remained muted as it had already anticipated a sluggish demand from the global market. Due to the dented demand from the domestic market, C10 prices have declined this month despite firm crude oil prices. While the domestic availability was sufficient to satisfy the country's overall needs, the Indian paint and coating industry has yet to regain significant momentum. The low availability of shipping containers also affected the price of C10 Solvent in the country, despite the smooth inflow of cargoes.
Asia
The prices of C10 Solvent fell in the Asian market during the second quarter of 2022, with a quarterly escalation of 5.1% in India, as recorded by Chem Analyst pricing team data. Refineries were aggressively driving up prices, the naphtha market was doing well, and there was more demand for terminal olefins and reforming. The naphtha market is trading well, refineries are actively boosting, and the need for reformed and terminal olefins has increased. In early May, the domestic asphalt market increased sharply after the festival; the price rose rapidly in an abbreviated time. The main reason is that international crude oil prices fluctuate at a superior level, consistent with the scale of the entire oil and gas industry chain. On the other hand, at present, the supply of some refineries is small, and the collection in the market is scarce. The asphalt futures market continued to rise, which also fuelled the bullish sentiment in the broader asphalt market.
Europe
The prices of C10 Solvent were observed to be stable in the European market during the second quarter of 2022, with ongoing fees of upstream feedstock Naphtha and fluctuating costs of Crude Oil. Fluctuating product demand from the downstream lubricants, adhesives, and oil sectors supported this trend in the regional market. The inventories were increasing, and a higher number of products were stockpiled with the traders and the suppliers as the consumption were steady. Disruption in supply chain values in the region due to the ongoing war between Russia and Ukraine affected the market sentiments. Freight charges were observed to be varying in the area.
