For the Quarter Ending September 2023



North America

During the first two months of the third quarter, 2-Ethyl hexyl Nitrate (2-EHN) experienced a bearish market in North America, with prices declining by approximately 7%. However, a subsequent bullish trend emerged, leading to an 8% rebound. These fluctuations were closely tied to the price movements of the feedstock 2-Ethyl hexanol, which initially faced a 25% decline in the first two months but later recovered slightly by 1%. Despite stable automotive sales, 2-EHN prices exhibited volatility due to varying production costs. The downstream diesel industry maintained steady demand, driven by a 21% increase in diesel prices throughout the third quarter, influenced by rising crude oil prices (up by almost 25%). Additionally, nitric acid, another feedstock, experienced a 5% price increase. Rising input costs across the United States further contributed to fluctuating production costs. The foreseeable future suggests a potential rise in 2-EHN prices as the demand for LNG strengthens, leading to an anticipated increase in the prices of upstream crude oil and subsequently impacting production costs.

APAC

In the Asian market, 2-Ethyl hexyl Nitrate (2-EHN) prices exhibited a mixed scenario during the third quarter. The initial two months witnessed an 8% decline, followed by a 9% increase in the last part of the quarter. The fluctuation mirrored the market situation of feedstock 2-Ethyl hexanol (2EH), which displayed a mixed pattern throughout the quarter. Despite the consistent increase in Nitric Acid prices by 5%, demand from the diesel additive sector surged as industrial activity improved in September. Positive economic indicators contributed to heightened trading activities in the automotive sector, boosting demand and subsequently market prices for 2-EHN. The upward trend is expected to continue as feedstock 2EH prices are likely to rise due to the increasing prices of upstream crude oil.

Get Real Time Prices of 2-Ethyl hexyl Nitrate (2-EHN): https://www.chemanalyst.com/Pricing-data/2-ethyl-hexyl-nitrate-1544

Europe

In Europe, 2-Ethyl hexyl Nitrate (2-EHN) prices faced a mixed market situation during the third quarter, initially declining and then rebounding in the latter part of the quarter. The initial bearish trend was primarily attributed to recessionary conditions prevailing across Europe at the beginning of the quarter. Furthermore, production costs eased as the prices of feedstock 2-Ethyl hexanol (2-EH) declined by almost 20%. A notable bullish situation emerged in September as the automotive industry improved, witnessing substantial sales increments in the UK, France, Belgium, and the Netherlands. Disruptions in the supply chain were also recorded due to fluctuating water levels in the Rhine River, causing congestion across ports. Anticipated demand from the downstream diesel industry, as the winter season nears, coupled with the expected increase in feedstock 2-Ethyl hexanol prices due to strengthening demand for Natural Gas, is likely to impact upstream crude oil prices and contribute to a potential rise in 2-EHN prices.


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