In the APAC market, Linear Alkyl Benzene (LAB) prices experienced notable fluctuations across 2024. In Q4 2023, LAB prices peaked due to high demand. However, this trend reversed in Q1 2024, when prices fell by approximately -2% in China compared to the previous quarter, with similar declines observed in India. This drop was attributed to reduced demand following the peak consumption period and possibly an oversupply situation or increased production capacity.
By Q2 2024, LAB prices rebounded with a 2.5% increase in China, driven by a resurgence in demand as end-use industries began restocking and ramping up production. This uptick was further fuelled by rising production costs and supply chain disruptions. In July 2024, LAB prices in China experienced a monthly decrease of around 2%, settling at USD 1,528 per metric ton. This decline was linked to a reduction in upstream benzene prices, which lowered production costs for LAB.