For the Quarter Ending December 2024
North America
The Bromine market in North America during Q4 2024 exhibited a mixed price trajectory. The quarter commenced with a bearish trend, primarily attributed to a slowdown in consumer demand, particularly within downstream sectors like flame retardants and intermediates. This deceleration was further exacerbated by the geopolitical instability arising from the Israel-Palestine conflict, which disrupted import channels, notably impacting bromine exports from Israel.
Conversely, robust economic indicators, including strong consumer spending and government expenditure, initially provided some support to the market. However, as the quarter progressed, these positive influences were gradually overshadowed by the lingering effects of the geopolitical crisis. Supply chain disruptions and production halts at key manufacturing facilities in the Middle East led to supply constraints and subsequent price increases.
Despite these challenges, consistent demand from key industrial sectors, such as flame retardants, drilling fluids, and water treatment, provided a degree of market stability. Towards the end of the quarter, a resurgence of cheaper imports exerted downward pressure on prices, culminating in a slight decline.
APAC
The Bromine market in the APAC region during Q4 2024 exhibited a nuanced price trajectory. The quarter commenced with stable prices amidst balanced supply and demand. However, improved weather conditions spurred increased production and imports, leading to a period of price appreciation in the APAC region dominated by China. Strong demand from the flame-retardant sector fueled this upward trend. Subsequently, prices stabilized as downstream demand provided limited cost support.
Towards the end of the quarter, a decline in consumer demand, particularly within the flame-retardant sector, exerted downward pressure on prices of Bromine. Despite this, the market remained relatively stable, supported by consistent domestic production and adequate inventory levels.
The Chinese construction sector showed signs of recovery, driven by government stimulus measures, which positively influenced the demand for bromine-based flame retardants. However, the geopolitical tensions in the Middle East continued to pose logistical challenges, impacting transportation costs and affected future supply chain dynamics.
MEA
The Bromine market in the MEA region during Q4 2024 exhibited a volatile price trajectory particularly in Jordan, a major producer. The quarter commenced with price increases driven by escalating regional tensions and weakening demand from downstream sectors. Subsequently, prices stabilized amidst improved supply conditions and robust industrial activity in Jordan.
However, a decline in demand from key Asian markets such as China, particularly for flame retardants, coupled with destocking activities and year-end discounting, led to a price drop towards the end of the quarter. While production in the Dead Sea region showed improvement, sales of bromine-based flame retardants declined due to lower prices and weaker demand from the electronics and construction sectors.
Geopolitical tensions in the region continued to impact the market, affecting logistics costs and trade flows. Despite these challenges, steady demand from Asia, particularly from China for bromine in applications such as flame retardants, agrochemicals, and pharmaceuticals provided some stability to the market towards the end of the quarter.
For the Quarter Ending September 2024
North America
In Q3 2024, the Bromine market in North America witnessed a significant decline in prices, with the USA experiencing the most notable changes. This quarter saw a multitude of factors influencing the market, leading to a decrease in prices. Demand from downstream industries like flame retardants and intermediates slowed down during this quarter, both domestically and internationally, due to adequate material availability.
Additionally, construction spending in the USA saw a decrease, impacting Bromine consumption. The ongoing conflict in Middle Eastern regions further disrupted imports, affecting overall market dynamics. Comparing Q3 2024 to the same quarter last year, prices have plummeted by 32.2%, reflecting the challenging market conditions.
Moreover, the quarter-on-quarter change in 2024 showcased a 6.3% decrease, with a consistent negative trend throughout the period. The second half of the quarter mirrored the overall downtrend, indicating stability in the decreasing prices. The quarter concluded with Bromine Bulk CIF Houston in the USA priced at USD 2146/MT, highlighting a persistently negative pricing environment.
APAC
In the third quarter of 2024, the Bromine market in the Asia Pacific region experienced mixed trends as the prices fluctuated. The quarter was characterized by varied pricing trends, with factors such as oversupply and weak demand dynamics, stable production rates, and moderate to high inventory levels influencing Bromine market prices. In China, which saw the most significant price changes, overall trends indicated a steady market environment. The current quarter recorded a substantial 26 percent decrease compared to the same period last year, reflecting the ongoing challenges in the Bromine market. However, from the previous quarter i.e., Q2 of 2024, there was no change in prices, indicating a period of price stabilization. The comparison between the first half and second half of the quarter also showed no significant price variations, highlighting a consistent pricing trend. The latest quarter-ending price for Bromine Exw-Shandong basis in China stood at USD 2449 per MT, underscoring the prevailing varied pricing sentiment in the region.
MEA
In Q3 2024, the Bromine market in the MEA region witnessed a period of decreasing prices, influenced by various significant factors. The market experienced a decline in prices due to subdued demand from downstream sectors like flame retardants and intermediates, leading to an oversupply situation. Additionally, the increased production rates in key exporting nations coupled with ample material availability further contributed to the downward pressure on prices. The ongoing geopolitical tensions and supply disruptions in the region also played a role in the pricing dynamics. Specifically focusing on the United Arab Emirates, the market saw the most significant price changes in Q3 2024. With a notable 20.5% decrease compared to the same quarter last year and a -5.6% decline from the previous quarter in 2024, the pricing trend remained negative. Moreover, there was a -1% price difference between the first and second half of the quarter, indicating a consistent downward trajectory in prices. The quarter-ending price of USD 2240/MT of Bromine CIF Jabel Ali in the UAE reflected the prevailing decreasing sentiment in the market.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, Bromine prices in North America witnessed a mixed sentiment influenced by several key market dynamics. The quarter witnessed a steady uptick in prices due to persistent robust demand from downstream flame retardant and intermediate industries. This heightened demand, coupled with decreased imports arising from geopolitical tensions in major bromine-exporting regions, exacerbated supply constraints. Additionally, rising logistics costs and increased ocean freight rates further contributed to the upward price pressure.
Focusing on the USA market, which experienced the most significant price changes, the overall trend showcased a persistent increase, underscored by strong industrial activity and increased consumption. The seasonality effect was pronounced, with unseasonal demand spikes in ocean freight from Asia, leading to further strain on the already tight supply chains. This context of rising demand and constrained supply set a bullish tone for the quarter.
Despite these factors, the price change from the same quarter last year reflected a 30% decline, indicating a significant drop from previous elevated levels. However, the prices showed a marginal decrease of 1% from the previous quarter in 2024, suggesting a relatively stable pricing environment within the recent quarters.
Concluding the quarter, Bromine Bulk CIF Houston in the USA settled at USD 2310/MT, reflecting the increasing sentiment driven by robust demand and supply-side challenges. Overall, the pricing environment for Bromine in Q2 2024 was marked by a positive trend, supported by strong market fundamentals and resilient industrial consumption.
Asia- Pacific
The second quarter of 2024 has witnessed a significant upward momentum in Bromine pricing within the APAC region, driven by several critical factors. Supply constraints and robust industrial demand have predominantly influenced the market, with import reductions and logistical challenges exacerbating the shortage. Downstream industries, particularly those involved in flame retardants and intermediates, have maintained a cautious procurement strategy, primarily purchasing based on immediate needs. This demand-driven approach, coupled with strategic interactions between suppliers and consumers, has spurred price increases. Additionally, escalating production costs and firm freight charges have further compounded the price rise, reflecting a complex interplay of supply chain disruptions and heightened demand.
In the context of China, which has seen the most pronounced price changes, the market trends have been particularly noteworthy. The region has experienced a 5% increase in Bromine prices compared to Q2 2023, indicating a robust recovery and growth trajectory. However, when contrasted with the preceding quarter of 2024, there has been a notable 12% decrease, highlighting a volatile yet progressively strengthening market. Notably, the price comparison between the first and second half of Q2 2024 reveals a substantial 17% increase, underscoring the burgeoning demand and supply pressures as the quarter progressed.
The overall pricing environment in China has been positive, driven by an intricate balance of demand-supply dynamics and external economic factors. The quarter concluded with Bromine prices settling at USD 2784/MT Ex-Shandong, marking a significant rise from earlier in the quarter. This upward trend reflects a stable yet bullish sentiment in the Bromine market, driven by persistent supply shortages, increased production costs, and strategic purchasing behaviors within the downstream industries.
MEA
The second quarter of 2024 has been marked by a dynamic pricing environment for Bromine in the MEA region, characterized by a consistent upward trend. Several significant factors have influenced market prices, contributing to this increase. Elevated freight charges across major sea trade routes have played a crucial role, as have supply-chain disruptions and geopolitical tensions that have exacerbated logistical challenges. Additionally, robust demand from flame retardant and related downstream industries has provided strong support for Bromine prices. The construction boom in the region has further bolstered consumption levels, driving up demand for Bromine-based products.
In the United Arab Emirates, the impact has been particularly pronounced, reflecting the highest price changes in the region. The overall trend in the UAE has been one of steady price appreciation, underpinned by consistent inquiries from local industries and ongoing construction activities. Seasonality has played a role, with demand peaking in alignment with construction cycles and industrial restocking. The correlation between increased demand and constrained supply has been evident, reinforcing the upward price trajectory.
Compared with a quarter-on-quarter, prices have risen by 2%, showcasing a resilient market. Within the quarter, prices showed a marginal 1% increase between the first and second halves, suggesting a steady yet modest rise. Concluding the quarter, Bromine prices in the UAE settled at USD 2443/MT CIF Jabel Ali.
Overall, the pricing environment for Bromine in the UAE during Q2 2024 has been positively skewed, driven by strong demand fundamentals and supply-chain constraints, despite underlying challenges.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the Bromine market in North America experienced a significant decrease in prices. This can be attributed to several factors that influenced market dynamics. Firstly, there was a decrease in demand from downstream industries, particularly in the flame retardant and other intermediate sectors. This resulted in lower purchasing activity and a wait-and-see approach to procurement. Additionally, imports of low-priced goods put downward pressure on prices.
The situation in the USA, the largest market for Bromine in North America, mirrored the overall trend. Prices in the country saw the maximum price changes, with a decrease of 10% compared to the previous quarter. This decline can be attributed to the same factors impacting the overall market, including weakened demand and increased imports.
Furthermore, there was a seasonal aspect to the price changes, as the first half of the quarter saw a larger decrease (-3%) compared to the second half. This could be due to factors such as year-end holidays and reduced manufacturing activity during that time.
Overall, the pricing environment for Bromine in North America during Q1 2024 was negative, with prices experiencing a significant decrease. The latest quarter-ending price for Bromine Bulk CIF Houston in the USA was recorded at USD 2250/MT.
APAC
Bromine prices in the APAC region during Q1 2024 have experienced a significant decrease, with China being the most affected market. The overall trend for Bromine prices has been negative, influenced by various factors such as weak consumer demand, low operational rates in domestic manufacturing firms, and sufficient inventory levels. In China, the price of Bromine has seen a substantial decline compared to the same quarter last year, with a decrease of 37%. Furthermore, the price has dropped by 28% compared to the previous quarter in 2024. The price comparison between the first and second half of the quarter reveals a decrease of 18%. This decreasing trend can be attributed to seasonality factors, as well as the ongoing conflict in the Dead Sea region, leading to supply disruptions globally. As a result, market sentiments have been bearish, and the overall market situation has been characterized as stable to bearish. The latest quarter-ending price for Bromine in China is recorded at USD 2384/MT Exw-Shandong. Overall, the Bromine pricing environment in the APAC region during Q1 2024 has been negative, with prices continuously decreasing due to weak demand and ample supply.
MEA
During the first quarter of 2024, the Bromine market in the MEA region experienced a mix of positive and negative factors that influenced market prices. Overall, the pricing environment was stable, with slight fluctuations observed in some countries, particularly in the United Arab Emirates (UAE).
In the UAE, the prices of Bromine declined in January due to imports of cheaper goods. This was attributed to slowing demand from consumer markets, resulting in sellers offering products at reduced rates. However, the demand prospects for Bromine remained steady, supported by firm inquiries from domestic downstream flame retardant and intermediate industries.
In February, the prices of Bromine further declined in the UAE market due to increased inventories and low procurement activities. The ongoing conflict between Israel and Palestine also impacted exports from Israel, leading to an increased reliance on Jordan for Bromine supply.
In March, the prices of Bromine in the UAE market rebounded slightly, with a moderate increase in demand and inquiries from downstream industries. This was driven by steady economic growth in the non-oil sector and increased foreign direct investment in the country. However, the overall demand for Bromine was expected to slow down in the coming months.
Overall, the Bromine market in the MEA region experienced stable pricing trends during the first quarter of 2024. The market was influenced by factors such as supply shortages, conflict in the Middle East, and fluctuations in demand from downstream industries. The prices of Bromine CIF Jabel Ali in the UAE settled at USD 2316/MT at the end of the quarter.
