China Records Significant Increase in Hydantoin Price to $3,231 per Ton

China Records Significant Increase in Hydantoin Price to $3,231 per Ton

In June 2023, the price of hydantoin in China stood at $3,231 per ton, marking a notable 12% increase compared to the previous month. Although the export price experienced a decline overall, the most significant growth rate was recorded in July 2022, with a 21% increase from the previous month. The export price reached its peak in August 2022 at $5,468 per ton, but remained lower from September 2022 to June 2023. Notably, there were significant variations in average prices for different overseas markets, with the United States having the highest price at $4,524 per ton and Thailand having one of the lowest prices at $1,410 per ton in June 2023. From June 2022 to June 2023, the price growth for hydantoin supplies to India was the most noteworthy at 0.6%, while prices for other major destinations witnessed a decline. In terms of exports, June 2023 saw an increase in overseas shipments of hydantoin and its derivatives to 771 tons, ending a two-month declining trend. However, overall exports remained relatively flat. The highest growth rate was observed in July 2022, with a 52% month-to-month increase, reaching a peak of 1.2K tons. From August 2022 to June 2023, export growth failed to regain momentum, with June 2023 experiencing a value of $2.5M in hydantoin exports. Spain, India, and Belgium were the main destinations for Chinese hydantoin exports, accounting for a combined share of 42% of total exports. Spain, the United States, and Japan were the largest markets for hydantoin exports from China in terms of value, collectively accounting for 51% of total exports. Spain witnessed the highest growth rate in export value among the main destinations, with a CAGR of 7.8%.

Source: IndexBox Market Intelligence Platform

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