Germany Erucic Acid Prices Movement Q4
Erucic Acid Prices in Germany:
|
Product |
Category |
Price |
|
Erucic Acid |
Specialty Chemical |
4,622 USD/MT |
Erucic acid prices remained constant at 4622 dollars per metric ton in Germany in the fourth quarter of 2023, though they were lower than in previous quarters. The market has been under pressure owing to a shortage of skilled labor as a result of racial tensions in Europe, which disturbed production schedules. The market, however, has remained steady owing to the balanced supply and demand conditions.
This price spanning the fourth quarter is $4,622 per metric ton as of now in Germany for erucic acid. Though it is stable, this price is much lower compared to the previous quarters. All these factors contributed to the dynamics in the market during the quarter.
One of the main reasons the market was hit was a shortfall in skilled labor. This problem became acute, owing to ongoing racial tensions, which made things difficult for workers even in chemical production in various risk-sensitive locations set in Europe. The missing skilled labor sent production schedules haywire since manufacturers couldn’t keep their output flowing steadily over time. Indeed, such disruptions played on every front of supply chain activity and created a bearish market environment.
However, this was still followed by a steady demand for erucic acid driven by its applications in the manufacture of lubricants, plasticizers, and a host of other industrial products. Production disruptions created the imbalances in the economics of supply and demand, which were the biggest barrier to recovery of prices to the high levels of the previous quarters. The rising operational costs, which manufacturers had to grapple with in terms of dealing with workforce issues as well as ensuring no interruption occurred in production, added much pressure to the market as well.
Moreover, the prevailing economic uncertainties in Europe were factors that translated into a much less upbeat market environment. Raw material availability and an even soaring energy bill pushed production costs to the roof, which forced manufacturers to scramble for cost-effective prices as they battled to maintain market competitiveness. All these things put market pressure on it, keeping prices static yet on the lower side.
On the whole, a wider Europe was still faced with issues that were political and economic, and these had…
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Key Features:
|
Key Attributes |
Details |
|
Product Name |
Erucic Acid |
|
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Erucic Acid Price Analysis, and Segment-Wise Assessment. |
|
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
|
Information Covered for Key Suppliers |
· Company Overview · Business Description · Recent Trends and Developments |
|
Customization Scope |
The report can be customized as per the requirements of the customer |
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