In the second quarter of 2024, there were some fluctuations in the Nitrocellulose market. At the beginning of the second quarter, there were some increases in prices due to consistent demand from downstream users like coatings, lacquers, and adhesives.
But as time went by, there were some declines in prices. There were some concerns regarding industrial activities due to disruptions in wood pulp imports, which is a primary material in nitrocellulose production. There were some concerns from downstream users due to low profitability in the paper and chemical industries.
Further, there was some increases due to seasonal production in the paper and chemical industry; however, these increases were not sustained.
Overall, the market was lacklustre and range-bound. Import quantities were lower, and there were issues in international availability because of logistical and geopolitical issues. Mills were cautious in procuring materials because of higher input costs. Buyers were relying on existing stocks.