For the Quarter Ending September 2023


North America

In the third quarter, concluding in September 2023, the H Acid market in North America witnessed a decline in prices. This downward trend was primarily driven by diminished demand from downstream ventures and sufficient stocks in storage units. The H Acid prices mirrored the drop in demand, further influenced by a reduction in production among enterprises. Concurrently, feedstock prices for Naphthalene and Sulphuric Acid rose, while Ammonia experienced the opposite trend. The domestic market observed a decline in H Acid prices due to low demand and production cuts. Abundant product supplies in storage units, coupled with reduced trading activities from China to the USA, were notable. Despite the end of the National Holiday in China in early October 2023, demand remained lackluster, with minimal purchasing activities and suppliers reluctant to raise their quotations. Additionally, the US economy exhibited a two-year growth spurt, yet inflation persisted above the 2% target level despite high-interest rates.

APAC

The H Acid market in the Asia-Pacific region experienced a decline in price trends during the third quarter, reaching USD 4800/MT (FOB-Qingdao) by September 2023. Lackluster demand from downstream Dye Intermediates enterprises and ample stocks in storage units contributed to weak market fundamentals. Existing inventory effectively met downstream demand, eliminating the need for restocking. Prices of upstream Naphthalene and Sulphuric Acid decreased due to adequate inventory levels and slow market offtakes, while Ammonia prices rose due to increased consumption and a surge in the Urea market. The commodity's operating rate also declined, supporting the overall price trend. The market situation was bearish, with a minimal spread between end products and feedstocks. A substantial drop in demand from downstream Dye Intermediate and Textile enterprises led to reduced production rates to prevent oversupply. Suppliers, faced with a dull market, lowered their offers and provided discounts on bulk purchases to secure profits.

Get Real Time Prices of H Acid: https://www.chemanalyst.com/Pricing-data/h-acid-1550

Europe

During the third quarter concluding in September 2023, the H Acid market in Europe followed a downward price trend. Adequate trade of H Acid from China to Belgium eliminated the need for restocking storage units. Feedstock prices for Naphthalene and Sulphuric Acid rose, while Ammonia experienced an incline. The weak market prompted producers to reduce production rates. A dip in demand from downstream Dyes Intermediate markets was observed, but existing inventories were sufficient. In October 2023, a low customer index contributed to a drop in the inflation rate, impacting the Petrochemical enterprises' price trend. The inflation rate fell from 4.3% in September 2023 to 2.9%. Despite the upcoming festive season, consumer prices reached their lowest since July 2021. The narrow spread between end products and feedstocks indicated a bearish market situation.


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