In the first quarter of 2024, benzene hexachloride (BHC) prices experienced varying trends across different regions due to multiple factors. In China, the BHC market witnessed a steady increase, fueled by heightened demand post-Lunar New Year and rising crude oil prices amidst limited supply.
This contrasted with the Indian market, which displayed fluctuations; prices initially dropped, then recovered and stabilized by the quarter's end. Europe saw an unstable BHC price trend due to limited trading activities and indefinite shutdowns of manufacturing plants, further impacted by fluctuations in crude oil prices and concerns about overseas imports.
In North America, BHC prices rose sharply due to constrained supply chains. Benzene hexachloride (BHC), particularly in its gamma-isomer form known as lindane, is a crucial compound for pesticide and pharma industries. Thereby, the downstream consumption pushed the prices up, which was further exacerbated by maintenance shutdowns at key petrochemical plants due to adverse weather, aligning with a global increase in petrochemical production and inventory restocking activities around the New Year holidays.
The price movements in all regions were also influenced by the prices of benzene, the primary feedstock for BHC. A bullish trend in the benzene markets also stimulated the price growth for BHC by raising its upstream costs.