For the Quarter Ending September 2024
North America
Moving forward towards the third quarter of 2024, the Acetonitrile market in North America experienced a challenging period marked by overall decreasing prices with a modest rise witnessed only in the middle of the quarter.
For the entire quarter, the pricing environment was predominantly negative, with a focus on destocking, reduced demand, and lower production costs. The inventory level among the trades remained more than sufficient and the decline in raw material prices had a certain positive impact on the downstream market in terms of production, supporting the market suppliers in terms of trading sentiments. While, many traders adopted a wait-and-see attitude towards market resources, and most traders were still cautious in their purchasing pace. As there had also been no significant increase or decrease in demand, market prices had not been greatly impacted with overall market trading sentiments leaning on the southerly side. However, in the middle of the quarter, the U.S. Acetonitrile market demonstrated stability, with a slight improvement in overseas demand. This trend was bolstered by rising feed material prices and escalating freight costs. Factories collectively raised their listing prices, and traders maintained a positive price trajectory. Downstream and overseas market purchasing focused on large orders, with significant involvement from intermediate traders. Lastly, the market stocks gradually depleted as they met downstream demand, particularly in the pharmaceutical, and other solvent sectors.
Overall, the USA witnessed the most substantial price changes, the market exhibited consistent downward movements. The market saw an overall average of more than 2% decrease compared to the same quarter from the previous quarter in 2024. This culminated in the quarter-ending price of USD 2165/MT for Acetonitrile pharma Grade FOB Texas in the USA, reflecting the overall decreasing sentiment in the market.
Asia Pacific
Across the Asian Pacific region, during the entire third quarter of 2024, the Acetonitrile market witnessed a notable increase in prices with a modest decline in the beginning, driven by a complex interplay of supply and demand dynamics. Overall, factors including the continuous arrival of overseas inquiries, robust downstream industry utilization, and increased production costs along with elevated freight charges contributed to an upward price trend. In Japan particularly, the market experienced the most significant price changes, reflecting overall trends seen in the region. However, seasonality and correlation in price changes were evident, with a -1% decrease from the previous quarter in 2024. While the market trading sentiments persisted on the northerly side throughout the entire three months. Furthermore, Japan's position as a major exporter within the Asian market, which holds significant influence over both domestic and international acetonitrile supply chains, further solidified its competitive edge over European and North American regions. Market participants observed a persistent increase in demand across regional and overseas markets. This heightened demand, coupled with escalating freight costs for both truck and rail transport, exerted additional upward pressure on export prices. Overall, the Industry insiders remained optimistic about the market's future trajectory, particularly in light of ongoing strong transaction volumes and increasing market demand, driven by higher price quotations from overseas markets. However, the market witnessed a slight resiliency at the beginning of the quarter where the supply side considerably outpaced the overall demand side. High acetonitrile inventories at that time, led traders to offer discounts to stimulate transactions, indicating an oversupply relative to current demand. While, in the meantime, manufacturers were actively focused on reducing their production for newer batches instead were constantly indulging in destocking sentiments with the supply side outspacing the overall demand side. Overall with an optimistic trajectory, the latest quarter-ending price in Japan stood at USD 1515/MT of Acetonitrile FOB Tokyo, underscoring the overall positive pricing environment in the region.
Europe
In Q3 2024, the European Acetonitrile market experienced stable pricing, marked by an overall downward trend. This stability was influenced by steady demand from the pharmaceutical and chemical sectors and a balanced supply. Global economic conditions, currency fluctuations, and the broader industrial landscape also played a role. Belgium, in particular, saw notable price fluctuations reflecting regional trends, with a -4% drop from the previous quarter. Market experts noted that prices had declined significantly until mid-Q3, driven by global supply chain adjustments and local market factors. Asian producers benefited from lower production costs, offering more competitive pricing due to improved operational efficiency, better raw material access, and resolved supply chain issues from earlier periods. In Europe, companies reduced stockpiles to lower storage costs and prevent product degradation. The euro’s appreciation against the U.S. dollar further benefited buyers by making imports more affordable. However, by late September 2024, the market had seen a significant uptick in regional inquiries, leading to rising Acetonitrile import prices in Belgium. Factory inventories remained low due to ongoing shipments, and the market maintained operations despite upstream fluctuations. While manufacturers kept prices high, the trading atmosphere remained optimistic, with transactions trending positively and import capacity staying strong. Downstream demand had shown signs of improvement, driven primarily by long-term contracts. The short-term outlook indicated continued market consolidation with range-bound activity. Overall, the quarter ended with Acetonitrile Industrial Grade priced at USD 1630/MT CFR Anterwep for pharma grade in Belgium, reflecting the overall stable pricing sentiment in the region.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Acetonitrile market experienced a predominantly downward pricing trend, influenced by various market forces and external factors. The quarter began with a decline in prices, primarily due to decreased demand from key downstream industries, notably pharmaceuticals and solvent sectors. April saw a contraction in US manufacturing activity, reversing the brief expansion of the previous month and marking the end of 16 consecutive months of decline. The Manufacturing PMI dropped to 49.2%, down 1.1 percentage points from March's 50.3%. Manufacturers reduced purchasing activities in response to declining new orders, reflecting heightened client caution and reluctance to make new business commitments. Despite this, production levels saw a slight increase due to the reduction of work backlogs.
Rising operational costs, including higher energy prices and increased feedstock expenses (particularly for acetic acid), contributed to elevated production costs. This prompted manufacturers to curtail new production, focusing instead on destocking and strategic inventory management in anticipation of demand fluctuations. The pricing trend in the USA continued to be affected by demand-supply dynamics, geopolitical factors, and market sentiments throughout the quarter.
However, mid-quarter saw some stabilization with a steady rise in end-user inquiries. Factories collectively raised their listing prices, with traders consistently pushing for higher export prices. These dynamics led to persistent market supply pressure, with prices trending upwards within a narrow range. This pricing landscape reflects the complex interplay of economic indicators, industry-specific factors, and broader market trends affecting the Acetonitrile market in North America during Q2 2024.
Asia Pacific
During Q2 2024, the APAC Acetonitrile market experienced an overall weakening trend, influenced by various factors contributing to market pessimism. April 2024 saw a downward trend due to a supply-demand imbalance across the global market, prompting local players to adjust profit margins. This created arbitrage opportunities for international buyers. Surplus inventory levels, especially in downstream industries, led suppliers to offer discounts for bulk purchases to avoid storage costs and stimulate demand. While with rising raw material costs (particularly acetic acid) increasing production expenses, merchants resisted procurement, supporting the downward trend. while moving forward in May 2024, the industry experienced a steady rise in inquiries arriving from the downstream pharmaceuticals and solvents sectors. Moreover, inventories possessed by the merchants remained highly sufficient balancing may’s supply-demand outlook. Continuous growth in manufacturing sentiment, albeit at a moderated pace, as market participants strategically focused on depleting existing inventories before engaging in new procurements. This strategic approach, coupled with the onset of long-term contract signings across importing nations, resulted in a surge in trade volume and reinforced market stability and the inventory management. Furthermore, on the feedstock market side, cost support from higher acetic acid prices kept the overall production cost elevated, supporting the higher prices of Acetonitrile for newer procurements. Lastly, June commenced with another downward trend. Chinese Acetonitrile supply rose relative to end-user inquiries, dampening the trading atmosphere. Traders offloaded goods at lower costs. Higher upstream crude oil and acetic acid prices increased production costs. Persistent transportation and logistics challenges, such as labor shortages and backlogs, have added pressure on traders as inquiries from the international market with already placed orders dropped.
Contrariwise to this was the market trend witnessed for Japan, the Japanese Acetonitrile market demonstrated an overall optimistic trend throughout Q2 2024, with a steady drop only at the quarter's end. The market reflected nuanced trends and seasonality impacts. April 2024 saw high export prices due to rising regional and overseas demand. At the same time, ongoing spring festival period additionally introduced slight supply chain disruptions, affecting market sentiments and leading to heightened pre-stocking activities, with prices rising consistently. This trend persisted until mid-quarter which was further influenced by higher global freight charges due to the Red Sea dispute, container shortages, and increased fuel costs. While, towards the quarter's end, prices dropped steadily, supported by weaker-than-anticipated end-user inquiries. Despite increased enthusiasm for downstream purchases since March, overall engagement remained low, prompting factories to lower prices. Sluggish downstream consumption and weak demand contributes to declining acetic acid prices, further impacting Acetonitrile production sentiments. On the trading side, inventory levels among market players remained sufficient, balancing June's demand and market transactions. As a result the overall quarter concluded with price stability, reflecting a balanced market environment driven by controlled supply-demand dynamics. This stable sentiment throughout Q2 2024 indicated a positive and predictable pricing environment, allowing stakeholders to navigate the market with confidence.
Europe
The second quarter of 2024 has been a tumultuous period for the acetonitrile market in Europe, marked by a complex interplay of macroeconomic and industry-specific factors. Rising freight charges, increasing natural gas costs, and geopolitical disruptions have collectively created a challenging trading environment. The depreciation of the euro against the US dollar has heightened cost pressures for importers, while abundant supply and weak downstream demand have exerted downward pressure on prices. This period has been characterized by a cautious approach from buyers, who have been reluctant to procure at higher costs due to inflationary pressures and a global economic slowdown. Throughout the quarter, regarding the supply aspect, analysts noted sufficient inventories, indicating a trend of gradual stabilization coupled with a significant reduction in end-user demand. Additionally, Acetonitrile exports displayed resilience due to the steady drop in freight charges, making imports more cost-effective for downstream buyers and neighboring nations. However, with weakened inquiries arriving in the nations, production momentum across the region witnessed a steady drop as suppliers were focused on clearing their pre-stocked-up inventories first during April. This trend continued until the final weeks of June with supply side being sufficiently enough balancing the overall demand side. However, as steady upward trend was witnessed in the middle of the quarter.
For the Quarter Ending March 2024
North America
Throughout the first quarter of 2024, the Acetonitrile market in North America experienced an optimistic trajectory, with prices rising by another 1.83 percent from the previous quarter of the preceding year. Various factors influenced pricing and market dynamics, including the consistent rise in regional demand and limited inventories, which prevented merchants from increasing production momentum to avoid material shortages. Rising feedstock material prices like Acetic acid and ammonia further supported these higher end-product prices. Additionally, supply constraints arose from limited Acetonitrile inventory meeting growing demand, compounded by export challenges that increased shipping costs, fuel charges, and delayed consignments, affecting overall trade dynamics for Acetonitrile.
Furthermore, feedstock plant shutdowns, such as Celanese Corporation's maintenance shutdown of Acetic acid plants in February, impacted material availability nationwide, causing downstream merchants to struggle to acquire sufficient inventories amidst consistent demand from industries like Ethyl Acetate and Butyl Acetate, along with the pharmaceutical sector concerning Acetonitrile, exacerbating the situation and worsening the supply shortage. Warnings from the National Oceanic and Atmospheric Administration about potential Mississippi River bottlenecks due to weather conditions heightened concerns about future shipment disruptions, further driving up prices. Anticipation of limited supplies, along with growing overseas market inquiries, led manufacturers to maintain high inventory levels, adding to upward price pressure.
However, the price trajectory dipped at the start of Q1 due to various interconnected factors, with the USA's strategic positioning playing a significant role aided by reduced consumption with ample stockpiles, leading to manufacturers facing shipment challenges. Merchants focused on trading at lower costs to destock previous inventory, influenced by the dollar's continuous appreciation. Nevertheless, with a positive start to the year and favorable demand projections from end-user industries, the current quarter's price for Acetonitrile Pharma Grade FOB Texas in the USA settled at USD 2305 /MT FOB Texas as March concludes.
Asia Pacific
In Q1 2024, the APAC Acetonitrile market showed an optimistic trend, despite a slight initial drop. This was influenced by various factors including global supply chain disruptions due to trade disputes and rising freight charges. These challenges affected Acetonitrile availability and led to price stabilization or increases. In Japan, where notable price changes occurred, Acetonitrile prices remained relatively steady, showing an overall increase of 1.63 percent from the previous year's quarter. However, the beginning of Q1 witnessed a dip in the price trajectory due to weakened inquiries. Western and Northern markets also experienced reduced orders post-holiday season, intensifying competition among producers. This, coupled with decreased demand and excessive inventories, exerted downward pressure on prices. Furthermore, the decline in Acetic acid prices, a crucial raw material, due to weak demand, further impacted Acetonitrile prices. By February 2024, demand for Acetonitrile saw a significant rebound from downstream industries, particularly in the pharmaceutical and extraction sectors. At the same time, lower feedstock costs boosted overall downstream Acetonitrile production resilience. Initially, traders capitalized on optimistic trade activity by selling their products at higher costs across global markets, including Europe, as importing nations continued purchasing in dollars. However, plant shutdowns such as Asahi Kasei Corporation's in March disrupted production, exacerbating supply constraints amidst sustained high inquiries from overseas and European markets, further imbalanced supply and demand. Overall, the Acetonitrile market in the APAC region faced a complex set of dynamics in the first quarter of 2024, influenced by factors such as supply chain disruptions, downstream industry demand, and market uncertainties. In conclusion, the price for Acetonitrile in Japan stood at USD 1470/MT FOB Tokyo as the quarter ended in March 2024.
Europe
In Q1 2024, the European Acetonitrile market experienced various influences on pricing. Persistent demand, especially in pharmaceuticals, kept prices stable, rising by 1.12 percent overall. Ongoing trade conflicts and disruptions in global shipping, such as the Red Sea crisis, affected availability and logistics, potentially causing supply chain challenges and increased transportation costs. Fluctuating raw material costs, notably Acetic acid, also affected Acetonitrile pricing. Notable changes were observed in Belgium, where Acetonitrile prices initially surged but then steadily dropped at the quarter's start, driven by weakened purchasing and regional inquiries before the post-holiday season.
Overall, ample inventories supported this trend as market participants focused on clearing stocks at lower costs. However, following the trend in the APAC region, demand surged in February, leading to an optimistic outlook for suppliers who traded goods at higher costs across the region due to the euro's devaluation against the dollar. Additionally, trade activity played a crucial role in shaping Acetonitrile market dynamics during the month. Ongoing disruptions in the Red Sea region caused logistical challenges, delayed consignments, and extended lead times, impacting market sentiments surrounding Acetonitrile in February 2024. Moreover, recent farmer protests in the Antwerp region disrupted inland transportation networks, particularly affecting flows to terminals in the east and inflows as well. Road blockades led to congestion and reduced truck arrivals at terminals, causing delays in handling commodities and impacting overall supply chain efficiency until March. This created an overall supply-demand imbalance, keeping prices high. Hence, the overall price trend in Belgium remained stable with a slight increase compared to the previous quarter. As of the current quarter, the latest price for Acetonitrile Industrial Grade CFR Antwerp in Belgium is USD 1585/MT.
For the Quarter Ending December 2023
North America
Throughout the entire fourth quarter of 2023, Acetonitrile prices in the North American region followed a positive market trajectory, experiencing a slight decline in October. Initially, this decline was influenced by a notable reduction in downstream inquiries from industries such as pharmaceuticals and chemicals, reflecting weakened purchasing activity for Acetonitrile. Moreover, the decrease in Acetonitrile prices in October was further attributed to a significant drop in the cost of raw materials, particularly Acetic Acid. Despite the dip in demand, the supply side remained robust, ensuring sufficient availability of both downstream and upstream materials within the domestic downstream industry. This trend aligned with the trajectory observed in the previous month. Additionally, the manufacturing Purchasing Managers' Index (PMI) dropped from 49.0 in September to 46.7 last month, indicating an overall decrease in manufacturing activity.
As mid-Q4 approached in November, Acetonitrile prices began a moderate rebound compared to the previous month's trend. However, downstream suppliers and certain distributors took advantage of the lower prices, focusing on replenishing their stockpiles at more favorable rates to compensate for earlier losses. Following this, the trend persisted until the final week of December, coinciding with the arrival of the holiday season and witnessing heightened economic growth and increased inquiries from both regional and neighboring countries.
This positive market scenario, combined with inflationary pressures and elevated fuel costs, contributed to supply chain disruptions toward the end of December. The higher costs of feed materials, such as Acetic Acid and ammonia, further pushed Acetonitrile prices upward. Consequently, the latest price for Acetonitrile Pharma Grade FOB Texas in the USA for the current quarter stands at USD 2295 per metric ton. The intricate interplay of market dynamics, economic factors, and supply chain challenges has contributed to the nuanced pricing trends observed in the North American Acetonitrile market throughout the final quarter of 2023.
Asia Pacific
The Acetonitrile market in the Asia-Pacific (APAC) region faced challenges during the fourth quarter of 2023. Various factors influenced market dynamics and pricing during this period, with a prevailing bearish sentiment across exporting nations, including Japan and South Korea, experiencing a modest upturn in December. This was primarily driven by a consistent decline in downstream buying activities and sluggish shipments throughout the region. Additionally, high inventory levels among market participants ensured an ample supply to meet the limited uptick in demand. Japan exhibited a noteworthy pricing trend in Acetonitrile. While the market maintained a continuous bearish trajectory, there was a modest rebound observed in December, which was counterbalanced by a favorable supply outlook. Conversely, in other exporting nations, particularly South Korea, Acetonitrile prices continued to reflect a pessimistic market outlook due to weakened purchasing sentiments both domestically and overseas. Notably, South Korea's Manufacturing Purchasing Managers' Index (PMI) experienced a slight dip from 49.9 in September to 49.8 in October, indicating a minor contraction in the sector's health and extending the ongoing 16-month decline. This contraction was attributed to domestic suppliers and retailers prioritizing destocking and implementing cost control measures. Furthermore, the correlation between price and seasonality became apparent, with prices exhibiting a downward trend throughout the quarter. On the supply side, factories were predominantly focused on export orders, leading to higher inventories among merchants and traders at the ports. Concurrently, the prices of feedstock materials witnessed a successive decline, further contributing to the continuous pessimistic market outlook for Acetonitrile during the specified timeframe. As the quarter concluded, the latest price of Acetonitrile FOB Tokyo in Japan was recorded at USD 1415/MT, while the corresponding price for FOB Busan in South Korea was assembled at USD 1440/MT. This comprehensive overview underscores the multifaceted challenges and trends that shaped the Acetonitrile market in the APAC region during the fourth quarter of 2023.
Europe
The final quarter of 2023 witnessed a varied pricing trend for Acetonitrile in Europe, particularly in Belgium, a prominent importer. The market dynamics were shaped by multiple factors that contributed to fluctuations in Acetonitrile prices throughout the quarter. Initially, prices experienced a gradual increase, followed by a depreciation as November 2023 commenced, only to rebound again as December ended. Moving into October, the market-maintained stability with a modest uptick in downstream purchasing activity. However, this was counterbalanced by the overall availability of inventories, ensuring equilibrium in response to incoming inquiries. In contrast, by November 2023, the absence of significant shifts in regional demand became apparent, influenced by a global economic slowdown that resulted in reduced consumption across industries like cosmetics, pharmaceuticals, chemicals, and reagents. Concurrently, domestic merchants found themselves holding excessive stockpiles due to decreased inquiries from other countries and traders offering Acetonitrile futures at discounted rates. Additionally, fluctuations in the Euro against other currencies, particularly the US Dollar, played a substantial role in influencing the price of imported Acetonitrile. Belgium, as one of the importers, experienced a slight rebound in prices as December 2023 unfolded. This rebound was supported by monthly consumer prices, which edged up by 0.43% in December following a 0.17% rise in the previous month. Market reports indicate that there were ample inventories of Acetonitrile among retailers and local traders in response to arriving quotations for the month. Furthermore, a modest uptick in buying sentiments contributed to keeping overall trade activity stable, marked by a steady rise in incoming new orders. The ongoing trade conflict linked to the Red Sea dispute impacted export momentum to Europe, resulting in an overall rise in transportation costs and delivery times. These geopolitical factors introduced an additional layer of complexity to the European Acetonitrile market during the final quarter of 2023.With this, the price of Acetonitrile Pharma Grade in Belgium for the current quarter is USD 1650/MT.
For the Quarter Ending September 2023
North America
During the third quarter of 2023, the Acetonitrile market saw volatile shifts. Initially, prices rose but plummeted significantly as mid-Q3 approached and continued on a downward trend until the end of September 2023. The consistent local demand in July helped maintain stable pricing in the US Acetonitrile market despite ongoing economic turmoil in the US and global inflation. Downstream sectors still required Acetonitrile, ensuring a steady market, especially from neighboring countries like Mexico and Canada. However, the gap between upstream acetic acid and downstream Acetonitrile narrowed in July. Furthermore, the import decline was exacerbated by rising shipping costs and related expenses due to inflation, leading businesses to reduce imports and causing concerns about future demand. Additionally, businesses refrained from accumulating excess inventory, fearing potential sales difficulties, further impacting imports. The decision of the local Federal Reserve to raise interest rates from 5.25 to 5.50 contributed to a bearish trend in the US economy, affecting orders from both domestic and foreign buyers. The spread chart between upstream acetic acid and downstream Acetonitrile also declined, influencing Acetonitrile's pricing. In contrast, the upstream Ammonia market in the United States remained stable throughout the month. Merchants continued to clear their backlogs, ensuring a consistent supply of internal inventory, mainly comprising Acetonitrile, to meet demand in surrounding regions. By September, ample local supplies and weak trade orders led to a gradual decline in market prices despite an increase in propylene prices in the upstream market.
Asia Pacific
Acetonitrile prices experienced a rise in July, followed by a drop in August and a continued bearish trend until the end of September. The slight increase in Acetonitrile costs in July was influenced by the positive global market trend, supported by rising crude oil prices. Demand from downstream sectors such as cosmetics, solvents, and other industries remained stable, leading to improved output. However, the supply struggled to meet the demand. Import costs of propylene from Asian markets, particularly China, significantly influenced the overall price trend. According to the Bank of Japan, the price of electricity in the Japanese CPI is determined by energy imports several months in advance. Japan's wholesale inflation slowed in July due to lower energy prices, marking the seventh consecutive monthly decline. Export data indicated a 0.8% decrease in July compared to the same month last year, the first decline since February 2021, driven by weak demand for other export goods amid the global economic slowdown. Market dynamics in Japan remained subdued due to weak international demand. Output, new orders, and export sales declined at softer rates, while employment remained unchanged, ending a 28-month period of job creation. Backlogs of work decreased, and suppliers' delivery times lengthened for the first time in four months. In August, demand for Acetonitrile from the pharmaceutical sector declined, leading to weaker demand limiting the ability of purchasers and traders to raise future quotations. According to the survey, new orders saw the fastest decline in seven months, and output dropped to its lowest point since June. Input price inflation reached a four-month high, increasing price pressure on manufacturers. This challenging outlook was further compounded by a softening in the services industry, which had previously supported the world's third-largest economy. With this, the price of Acetonitrile in Japan was assembled at $ 1510/MT.
Europe
During the third quarter of 2023, the market outlook for Acetonitrile remained pessimistic. The global economic slowdown led to reduced consumption of Acetonitrile in cosmetics, pharmaceuticals, and pesticide sectors, keeping prices in a downward trend. Traders have consistently offered acetonitrile futures at lower rates in recent months. In July 2023, Belgium's economy faced challenges due to the ongoing conflict in Ukraine, disrupting global supply chains and increasing energy prices, coupled with a worldwide chip shortage affecting manufacturing output. The negative market sentiment in August significantly reduced purchasing power in downstream industries, causing a substantial 9 percent decline. The decrease in domestic inquiries for Acetonitrile, persistent since the beginning of 2023, further exacerbated the situation. The global economic slowdown observed throughout mid-Q3 impacted supply-demand dynamics across various sectors, leading to decreased demand for Acetonitrile. Acetonitrile's availability remained unchanged during this period. Weaker trade momentum in importing countries, along with rising freight costs, maintained a negative market atmosphere for Acetonitrile. Additionally, persistent high interest rates since July led to a notable decrease in demand from downstream industries. Traders continued to sell acetonitrile futures contracts, with cautious market entry from processing companies. Limited participation from intermediate traders, few market transactions, and weak market fundamentals made it challenging to boost activity in the market. With this, the price of Acetonitrile in Belgium as assembled at $ 1835/MT
For the Quarter Ending June 2023
North America
Acetonitrile prices in the 2nd quarter of 2023 show an increasing market trend in North America, mainly in the USA. At the beginning of the 2nd quarter, Acetonitrile prices decreased consistently in line with the market trend of the previous month. The decrease in its price across the US was mainly due to a significant decrease in downstream demand and a rise in merchant stockpiles. Acetonitrile's decreasing price trend this month is further supported by the lower cost support of the upstream Acetic acid market. According to market analysts, the trade activity from the exporting country in the USA remained below average. Statistics show a decrease of 0.5% in the producer price index (PPI) for final demand, indicating a general decrease in consumer demand. However, by mid-Q2 2023, the consumer price index in the U.S. rose by 0.5 % in May 2023, and Acetonitrile price saw a moderate increase due to a rise in domestic inquiries from downstream pharma, polyacrylamide, and petrochemical industries amid firm availability of inventories as a result of restocking practices until end-June. On the other hand, the depreciation of the renminbi against the dollar has improved the competitiveness of Chinese exports, which may lead to higher sales and profits for Chinese exporters. Suppliers and merchants in the United States benefit from this, as they can purchase goods at lower prices.
Asia Pacific
Across the APAC region, primarily in China, Japan, and South Korea, the prices of Acetonitrile ended the second quarter on a bearish note. Fluctuating upstream acetic acid prices, consistent drops in domestic and overseas inquiries, and weakened trading activity all supported the downward price trend for Acetonitrile during this quarter across the Chinese market. In South Korea, persistently subdued demand sentiment coupled with surplus product availability in the region proved to be prominent factors in pushing prices on the lower side for Acetonitrile throughout this quarter. Also, the Shipments from Asia's fourth-largest economy, yearly global trade, fell by 6 percent in June from a time before in June, narrowing from around 15 percent drop in May, as per the trade ministry. As June concludes, exports to China fell by more than 18 percent, the lowest decline since October, while those to the United States fell by less than 2 percent. While in Japan, despite higher upstream costs, the prices for Acetonitrile kept falling in April. Market analysts assert that the exporting nation's trade activity from Japan, one of the major exports, has continued to be below average. In addition, Acetonitrile prices in Japan decreased, following last month's trend, due to decreased demand from downstream Acrylic Fibres industries. Offtakes from other Pharmaceutical and Petrochemical industries also decreased significantly. In addition, the devaluation of the Japanese Yen against the USD made it more cost-effective to export to importing countries like the USA, China etc. On the upstream market, the continuous decrease of upstream Acrylonitrile prices impacted the downward price trajectory of its by-product Acetonitrile across the region. Due to this continuous decrease across the region, merchants were hesitant to quote newer quotations and preferred to deplete their previous stocks first.
Europe
During the second quarter of 2023, the prices of Acetonitrile across the European region, primarily in Belgium, showcased a consistent decremented trend. Constant drop in domestic inquiries and a significant decrease in imports of raw materials from exporting nations like China kept the market of Acetonitrile on the south side. In the continuation of May, the prices remained on the lower side, coupled with higher stockpiles among the merchants, owing to which they focused on destocking their inventories at a lower rate. Additionally, in the month of June, Consumer Price Index CPI in Belgium decreased to 127.11 points in June from 127.30 points in May of 2023, resulting in its lower price trend. Additionally, upstream acetone and acrylonitrile prices decreased significantly during the last few weeks of June also due to weak demand around the world and steady drops in downstream Natural Gas prices supported by surplus availability, which contributed to the weak market sentiment for Acetonitrile in Belgium market.
For the Quarter Ending March 2023
North America
The prices of Acetonitrile in the North American region plummeted throughout the end of the first quarter of 2023, followed by the trend of the Previous Quarter. This price trend during the first quarter was supported by a consistent drop in domestic demand coupled with higher stockpiles among the market participants. Besides this, Manufacturing continues to contract but not at a sufficiently rapid pace to suggest a recession in the overall economy at this point. Also, the Ocean freight arrangements are reliant on industrial orders, which additionally kept the market sentiments of Acetonitrile on the lower side. Towards the termination of the first quarter, the prices for Acetonitrile continued to remain in the downward direction and were recorded at USD 2510/MT Pharma Grade in North America.
Asia Pacific
APAC region, primarily in China, maintained to demonstrate a weaker market trend for Acetonitrile during the first Quarter of 2023. Since the start of January, the prices continued to follow the trend of the previous month, which was reinforced by lessened uptakes from the downstream pharmaceutical and other sectors. Moreover, weaker propylene costs and ample inventories with wither operation rates further kept its market sentiments on the feeble side throughout the first Quarter of 2023. Besides this, China’s economic recovery, to some extent, is an improvement in its manufacturing activities, however, at a slower pace. Still, the exports remain weak and domestic sales continue to fall, although the rate of decline remains narrowing. With this, the prices of Acetonitrile for Pharma grade were assisted at USD 1831/MT Pharma Grade in the month of March in China.
Europe
In the European region, primarily in Belgium- until the end of the first Quarter of 2023, the prices of Acetonitrile directed a descending trend. Prices of Acetonitrile fell consistently in the month of January on the back of weak downstream demand from various end-user sectors and higher stockpiled inventories. Also, the Upstream acetic acid prices additionally kept the market sentiments of Acetonitrile on the weaker side. Moreover, owing to lessen demand from the downstream sector, the trade activity for Acetonitrile from exporting nations continues to remain on the south side, which has significantly affected the market trend of various sectors. Overall, the prices of Acetonitrile displayed during the end of March were settled at USD 2365 /MT Pharma Grade in Germany.
For the Quarter Ending December 2022
North America
The prices of Acetonitrile in the North American region plummeted at the end of the fourth quarter of 2022. As with the start of the winter month, i.e., October, the prices witnessed were on the upper side owing to an increase in end-user demand. Inflation during October thus decreased substantially compared to September, even though it remained well above the upper boundary, which affected Acetonitrile's market sentiments. Following mid-q4 in the United States, the prices of Acetonitrile started to decline considerably on account of weaker inquiries and upstream Acetic Acid cost. With the end of the year 2022, the prices declined significantly with stockpiled inventories among the market participants and were recorded at USD 12560/MT CFR Los Angeles in North America.
Asia Pacific
In APAC region, primarily in China, witnessed a continuous decreasing price trend for Acetonitrile in the fourth quarter of 2022. Although, the prices of Acetonitrile during October declined as the inquiries from the traders reduced considerably. Additionally, Chinese manufacturing activity, one of the important components of the country's economy, weakened steadily with the start of November in the fourth quarter. Low upstream Acetic Acid costs kept the prices of Acetonitrile in the south direction. A rise in COVID-19 cases caused more disruptions in supply within the domestic market and international markets as the temporary stoppage of manufacturing activities within the domestic market reduced the trading momentum across the international market. With this trend, the prices of Acetonitrile displayed during the end of the fourth quarter were assembled at USD 3100/MT FOB Shanghai in China.
Europe
The European region, primarily Belgium- during the fourth quarter of 2022, showed a descending trend of Acetonitrile throughout the final quarter of 2022. At the start of October, inquiries inclined again after witnessing a weak trend in the previous month. However, the prices started to decline significantly from early November to later December because of poor uptakes from the domestic market. The supplies were also enough among the market players to meet any immediate order within the region. With this similar trend, the prices of Acetonitrile displayed during the end of the fourth quarter were settled at USD 3100/MT Pharma Grade CFR Antwerp.
For the Quarter Ending September 2022
North America
In the North American region, the prices of Acetonitrile showcased a decremented trend throughout the third quarter of 2022. These significant prices drop has been witnessed due to a drop in feed acetic acid and ammonium and lackluster downstream demand from the domestic market. Additionally, since the start of the Russia-Ukraine war, the speculations around a U.S. recession deepened in the third quarter as the inflation rates soared. At the same time, consumer sentiment weakened considerably, which kept the prices of Acetonitrile on the lower end. Thus, towards the third quarter's termination, Acetonitrile prices were assessed at USD 2985/MT FOB Pharma Grade FOB Texas.
APAC
In the APAC region, the prices of Acetonitrile showcased a mixed market sentiment during the third quarter of 2022. The weak U.S. dollar exchange rates and the slowdown world economy in July contributed to a significant decrease in Acetonitrile price in the first half of Q3. Further, the supply constraints and disrupted trading momentum owing to worsening climatic conditions positively supported the price trend of Acetonitrile in China. Additionally, the weakened demand kept the market on the lower side. Although the prices rose slightly during the mid of Q3 owing to moderate offtakes witnessed in the domestic market, they declined again towards the start of September. The price of Acetonitrile got settled at USD 2638/M.T. Pharma Grade FOB Qingdao.
Europe
Acetonitrile's prices mimic the market trend of North America in the European region throughout the third quarter of 2022, backed by weak demand and sufficient inventories in the domestic market. Additionally, the disrupted trading momentum and halted production activities from the exporting countries supported the price trend for Acetonitrile in Belgium. Despite increasing upstream ammonia prices, the cost of Acetonitrile dwindled throughout the third quarter of 2022. Rising inflations caused the customers to decrease their requirements which propelled the market participants to reduce the prices further to destock their accumulated inventories. Thus, towards the third quarter's termination, Acetonitrile prices were assessed at USD 3210/M.T. Pharma Grade CFR Antwerp.
For the Quarter Ending June 2022
North America
During the second quarter of 2022, the prices for Acetonitrile in the North American region witnessed a declined sentiment owing to fluctuated feedstock Propylene prices. Also, decrement in Acetonitrile requirements from downstream end-user industries resulted in a stockpiling of Inventories with the local suppliers in the domestic market that were sufficient to meet the necessary demand. In the United States, Weaken trading environment, stockpiling of shipments, and decreasing routing sentiments resulted in a decrease in freight charges which all together affects the market price of Acetonitrile in the region. Towards the termination of the second quarter, Acetonitrile price recorded an average declination of 0.60%.
Asia Pacific
In the APAC region, the price for Acetonitrile witnesses a decrement throughout the second quarter of 2022. The upstream feed propylene prices consistently fluctuate in Asian Market, affecting the pricing sentiments of Acetonitrile in the overall market. With the onset of q2, the prices increased due to heightened demand and tightened supply from the downstream domestic market. Prices significantly changed in the following months of 2022 owing to the sluggish demand from the Chinese market caused by the COVID-19-related restrictions. Additionally, reduced trading activities due to reduced imports from overseas prompted Acetonitrile's price to decline.
Europe
During the second quarter of 2022, the market of Acetonitrile witnessed a similar pricing sentiment as followed by the North American region in European Region. The petrochemical market in the European region struggled with the supply-demand fundamentals between the feedstock and its downstream demand from end-user industries during the second quarter. Fluctuation in feedstock propylene prices affects the market sentiment of Acetonitrile. Additionally, a reduction in downstream demand results in stockpiling of inventories with the suppliers, causing a decrease in production activity, transportation momentum from other exporting countries, and rerouting activities owing to the Russian-Ukraine war impacted the price value of Acetonitrile in the market.
For the Quarter Ending March 2022
North America
During the first quarter of 2022, Acetonitrile prices in North America showed mixed sentiments. Because of the high price of the feedstock Propylene, Acetonitrile prices increased in the month of January. In the face of increased demand from end-user industries such as pharmaceuticals, a lack of inventories in the domestic market failed to meet surging domestic needs. Although, throughout the mid-quarter, the price of Acetonitrile in the United States fluctuated significantly. Along with the gloomy market sentiment, downstream demand appeared to be sluggish. Acetonitrile prices increased modestly toward the conclusion of the quarter. With the ease of the pandemic, feedstock prices remained stable, and despite the shrinking demand-supply gap, domestic dealers were concerned on satisfying clients' contract purchases rather than selling on the spot market. During March, the price of Acetonitrile Pharma Grade FOB Texas was estimated to be approximately 3295/MT.
Asia Pacific
Acetonitrile prices increased in the Asia-Pacific region during the first quarter of 2022. Due to higher feedstock Acetone and Propylene prices in the region, the Acetonitrile market remained positive during the first quarter. Feedstock Acetone prices in the local market continued to grow following the rise of the Omicron variant, owing to increasing demand for Sanitizer manufacturing in Asia and Europe. The manufacturing pace dropped in March due to a upsurge in COVID cases. Furthermore, the Chinese government implemented a Zero Covid Policy in a number of Chinese cities, which had an impact on downstream end consumers. Due to a paucity of supplies in the domestic market, demand for Acetonitrile from downstream pharmaceutical firms was not met. The price of acetonitrile was fixed at USD 2920 per metric tonne (MT) FOB Qingdao, Pharmaceutical Grade (Contract).
Europe
Acetonitrile prices in Europe rose during Q1 2022, owing to an increase in the price of the feedstock Propylene, which was followed by a steady rise in natural gas costs. In response to high feedstock prices in the European region, which resulted in high production costs for Acetonitrile at the end of the first quarter. Due to the low availability, supplies in the region were constrained, affecting downstream. The downstream industry, such as analytical and pharmaceuticals, continued to demand Acetonitrile as a solvent. Furthermore, increasing freight charges owing to container shortages disrupted supply chains, resulting in a supply shortfall in the region. The CFR Antwerp negotiations for Belgian Acetonitrile Industrial grade settled at USD 3421/MT during the month ending in March.
For the Quarter Ending December 2021
North America
Throughout Q4 of 2021, the North American Acetonitrile market shown unparalleled constancy in trend. Following a supply-short third quarter, during which refinery production was affected and supply networks were interrupted along the Gulf Coast due to hurricanes, the early half of Q4 remained a seller's market. The trend shifted in the second half of Q4, with feedstock propylene prices beginning to fall in the first week of November and continuing to fall until the end of December. The average price of Acetonitrile was estimated to be USD 1475/MT FOB Illinois.
APAC
Acetonitrile prices have showed decline in the Asia pacific region during Q4. Acetonitrile prices fell sharply after varying somewhat near the end of November. The Acetonitrile futures market remained bearish due to increased supplies of feedstock Propylene because of oversupplied crude oil market fundamentals. Apart from the decrease in the price of domestically produced acetonitrile, the resumption of trade activities aimed at resolving the container shortage issue has resulted in a decrease in the price of Acetonitrile imports. On the other hand, there was no apparent increase in demand from pharmaceuticals, while demand for laboratory-grade Acetonitrile remained unchanged. Due to limited offtakes, Acetonitrile negotiations settled at INR 307200/MT Ex-Mumbai in the week ending December 10th.
Europe
During the fourth quarter of 2021, European markets saw a steady shift in imports from regional markets to Asian Acetonitrile due to increased arbitrage margins. According to ChemAnalyst's market Intelligence unit, feedstock Propylene was cheaper by at least 50 to 60 USD/Mt throughout Q4. thus the acetonitrile market showed declining trajectory. Downstream demand remained sluggish, keeping the market sentiments bearish.
For the Quarter Ending September 2021
North America
During the third Quarter of 2021, the industrial market in the North American region experienced mixed sentiments after the occurrence of climate calamities during Q1 and Q2 in the US Gulf Coast (USGC). The Acetonitrile market outlook reached a level of stagnancy as the supply fundamentals were improving since the beginning of Q3 after weather related disruptions in Q2. There was a surge in the demand from the downstream industries such as pharmaceutical and solvent. The improvement in the production of Acetonitrile was witnessed in the North American region in Q3 owing to the high availability of upstream Propylene.
Asia Pacific
Logistical issues continued to weigh on the Asian petrochemical market during the third quarter due to port congestion issues heard in China. Record high container freight rates continue to escalate the import prices of several petrochemicals. However, the demand for Acetonitrile in the Asia Pacific region was seen improving by leaps and bounds. FOB Shanghai prices of Acetonitrile in the Chinese domestic market rose from USD 2350/MT to USD 2840M/T during Q3. Upstream Propylene supplies were ramping up, as propane dehydrogenation plants were expected to start up in Shandong and Ningxia during mid-September. In India, after the uncertainties caused by the second wave of COVID-19 in India, the demand for pharma grade Acetonitrile rose from China.
Europe
In Q3, the market outlook of Acetonitrile in the European market observed mixed sentiments. The petrochemical market in the European region struggled with a divergence of pricing and supply and demand fundamentals between feedstocks and downstream industries during the third quarter. In the feedstock market, substantial increases were seen in contract prices in July, driven by a continued build up in the upstream energy complex, which caused feedstock producers to lower their margins and pass on the costs to downstream players. The supplies of Acetonitrile ramped up as import from the US was bolstered after the storm conditions in Q3.
For the Quarter Ending June 2021
North America
After the reeling impact of the winter storm Uri, the industrial infrastructure in the US Gulf Coast (USGC) showed recovery. Steam cracker, propane dehydrogenation (PDH), metathesis and refinery operation rates improved ensure sufficient availability of feedstock Propylene to produce Acetonitrile. Hence, the production of Acetonitrile improved in the North American region during the second quarter. Mass vaccination program throughout the region boosted the economic and commercial activities throughout the region, thereby supporting the demand from the downstream pharmaceutical and solvent industries, hence the overall demand market outlook was firm. Consequently, the pricing trend observed a constant downfall throughout the quarter with FOB Texas discussions settling at USD 1510 per tonne showing a decrement of USD 100 per tonne from the prices in Q1 ending.
Asia Pacific
Demand of China’s pharma grade Acetonitrile peaked by the mid of the second quarter as the enquiries registered strong gains from India with the country facing devastating second wave of COVID, hence the offtakes from the pharmaceutical sector in Southeast Asia remained high. Whereas in China, the production rates were curtailed due to the rising inflation on the raw material front. Offtakes by the Chinese traders were usually on demand due to lacklustre export enquiries. As a result, the prices of Acetonitrile in the Chinese domestic market observed a steep downtrend with FOB Dalian prices settling around USD 3597 per tonne in mid-June, at a decrement of 18.55% from the prices in previous quarter.
Europe
The supplies of Acetonitrile in the European market recovered as imports from the US improved after observing severe tightness in the previous quarter. However, some supply constraints took long to normalise as manufacturers reported depleted inventories, further supported by longer than awaited turnaround at INEOS nitriles facility. As shipping freight to the region surged enormously, the overall regional supply demand outlook remained in doldrums. Overall demand remained firm from the downstream pharmaceutical and solvent industries.
For the Quarter Ending March 2021
North America
Supplies of Acetonitrile in North America decreased amid disruption in supply chains during the first quarter of 2021. Downfall in the production of Propylene affected the overall plant operating rates in the region. INEOS and Ascend announced temporary shutdowns at their Texas facility in mid-February as the severe freeze weather condition hampered production activity in the US Gulf region. Demand increased as downstream industries ramped up the production to balance the rebounding demand across the end-use sectors, supported by the recovering economic activities as vaccination roll out progressed.Cornerstone is expected to announce declare force majeure in April following mechanical issue and raw material shortage that has reduced the production rates since mid-March.
Asia-Pacific (APAC)
During the Q1 2021, Acetonitrile supplies to the Asia Pacific region showcases mixed sentiments, owning to the turnaround in Taiwan's Formosa Plastic Corp and Sinopec plant in Anqing China. The supply crises were extended by the delays in the deep-sea cargoes from the US and Europe. Shandong Haili plant postponed its restart; however regional suppliers operated at the maximum efficiency to cover up the supply gap in the first quarter. Demand remained balanced due to improvement in the offtakes from the downstream sector. FOB Shanghai prices of Acetonitrile for the April deliveries settled at USD 4150 per tonne.
Europe
The European regional Acetonitrile market witnessed extreme tightness on the supplies as the Turkey's Petkim, a major production plant in the Mediterranean region and INEOS Nitrile facility in Germany remained shut throughout the quarter. The affected imports from the USA due to bad weather conditions further exacerbated the tightness in the regional market. Demand surged as the offtakes from the downstream pharmaceutical sector gradually improved.
For the Quarter Ending December 2020
North America
The supply of Acetonitrile in the Americas remained tight as major players announced turnaround during the first half of the 4th quarter, while some key players announced force majeures triggering low production of upstream Acrylonitrile which led to decrement into the production of Acetonitrile. Buyers turned active for the procurement of product, but persistent tightness made it tough to strike bulk deals. Buoyant demand and firming upstream rates increased the price of Acetonitrile across the US market. Some petrochemical producers turned optimistic after Joe Biden emerged victorious from the US presidential elections which escalated the expectations of several industrialists regarding smoothening of US-China relationship and bilateral trade.
Asia-Pacific (APAC)
Asia pacific is the largest producer of Acetonitrile, holding more than 50% of the total market share in terms of production and leading in terms of consumption. The regional supply remained tight due to planned and unplanned turnarounds and reduction in the supply from the northeast Asian region in October. Tight supply and robust demand drove the product realizations in India with the elevation likely to sustain even in Q1 2021. Firming raw material further triggered an upward push in the pricing curve which was averaged around USD 4650 per tonne for pharma-grade Acetonitrile in India.
Europe
The Q4 turned out to be largely tight in terms of Acetonitrile supply as major pharmaceuticals industries across Europe faced shortage in the graded Acetonitrile supply, while the agrochemical sector sought supplies from the overseas to deal with the material shortage. The quarter observed unexpected turnarounds by major Acetonitrile producers in response to the second lockdown imposed due to new COVID variant. Sentiments were bolstered towards the end of the quarter as the news of construction of Nouryon and INEOS nitriles’ new Acrylonitrile and Acetonitrile unit in Germany is in its final construction phase and is expected to be fully operational in FY 2021-2022.
