For the Quarter Ending December 2024
North America
In Q4 2024, Calcium Carbonate prices in North America followed a declining trend, shaped by a combination of supply, demand, and logistical challenges. Early in the quarter, supply constraints emerged due to force majeure declarations caused by Hurricane Helene and rising raw material costs. However, improved domestic production efficiencies and expanded capacities later resulted in a market surplus. This, coupled with seasonal slowdowns in downstream sectors like food and beverages, led to a significant reduction in demand during the latter half of the quarter. The FMCG sector, facing rising input costs and weakening urban demand, further dampened Calcium Carbonate consumption.
Logistical disruptions played a key role in impacting the U.S. market. Hurricane Milton temporarily closed the Port of Tampa Bay, while Hurricane Helene caused backlogs at major ports like Savannah, where vessel wait times exceeded two days. Despite the swift resumption of operations at Miami and Jacksonville, delays persisted due to a three-day strike by the International Longshoremen’s Association, causing inefficiencies in container movement and shortages, particularly for refrigerated containers.
Additionally, the U.S. manufacturing sector saw a slight deceleration in activity, reflected in the Producer Price Index (PPI) for food manufacturing, which experienced a 0.55% decline. Despite these challenges, efficient inventory management and stable raw material costs helped mitigate the impacts on pricing. As a result, food-grade Calcium Carbonate prices saw a modest decline of 6% quarter-on-quarter, reinforcing the overall negative pricing sentiment throughout Q4.
Europe
In Q4 2024, Calcium Carbonate prices in Europe exhibited a mixed trend, initially rising due to strong demand from construction, infrastructure, and pulp and paper sectors. However, challenges emerged as the construction industry struggled with rising oil prices, recession risks, and geopolitical tensions, leading to a cautious market. Logistical disruptions, including port congestion in Felixstowe, caused shipment delays and, combined with rising raw material costs, contributed to price increases in October and November. By the end of the quarter, the construction sector faced declining new orders, job losses, and a bleak outlook, putting downward pressure on Calcium Carbonate prices.
By November, the construction industry in Belgium and broader Europe struggled due to economic uncertainties, rising costs, and political instability. These factors resulted in reduced construction activity, especially in residential and commercial projects. High borrowing costs and a decline in new orders further dampened demand for construction materials like Calcium Carbonate.
As the weather turned colder towards the end of Q4 2024, seasonal slowdowns in construction further dampened demand for Calcium Carbonate, contributing to the price decline. The construction sector's struggles, compounded by economic and political uncertainties, were key factors influencing price trends. Despite these challenges, the region saw a slight 0.6% increase in prices compared to the previous quarter, reflecting mixed sentiment in the market.
APAC
In Q4 2024, the Calcium Carbonate market in China exhibited a mixed price trend, characterized by a decline in the first half followed by stability in the latter half. Early in the quarter, the construction sector, a significant consumer, faced a slowdown, contributing to reduced demand and a drop in prices. Seasonal factors, including the lead-up to the Chinese New Year, further dampened industrial activity, especially in construction and related sectors. This economic weakness, compounded by ongoing global trade tensions and domestic challenges like a weakening property sector, exerted downward pressure on prices.
However, as the quarter progressed, government stimulus measures provided some relief, stabilizing demand in key sectors like construction, paper, and plastics. Effective supply chain management, despite logistical challenges such as port congestion and rising freight costs, helped maintain supply stability. By December, prices stabilized at USD 99/MT, reflecting a balance between stable demand from core industries and ongoing economic uncertainties.
Q4 2024 saw a slight increase of 1% in Calcium Carbonate prices compared to the previous quarter. Overall, Q4 2024 saw a slight decline in Calcium Carbonate prices, with price stability emerging towards the quarter's close, supported by domestic production adjustments and policy stimulus.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a mixed pricing trend for Calcium Carbonate. At the beginning of the quarter, prices consistently declined due to several factors, including muted demand across industries, surplus production capacity, and stable raw material costs. These elements collectively exerted downward pressure on prices, leading to a negative pricing environment. In the USA specifically, the market reflected the most significant price changes, with seasonal variations in demand, production efficiencies, and balanced inventory levels contributing to the decreases.
However, towards the end of Q3, Calcium Carbonate prices in the USA began to rise. This increase was driven by seasonal demand spikes from key industries such as food and pharmaceuticals, which actively replenished inventories and led to heightened consumption. Additionally, rising costs for limestone, the primary raw material, increased production expenses, further pushing prices upward. Unexpected production difficulties and the looming threat of a strike by the International Longshoremen's Association (ILA) heightened market uncertainty, raising concerns about potential disruptions at East Coast and Gulf ports. Compounding these issues, Tropical Storm Francine posed risks of heavy rain and flooding in critical logistics regions, prompting precautionary measures from oil and gas companies.
Overall, a quarter-on-quarter change of -8% reinforced the negative pricing sentiment, though the latter half of the quarter showed a slight moderation in the rate of decline, with prices reflecting a -3% difference compared to the first half. Ultimately, the quarter ended with prices at USD 655/MT for Food Grade Calcium Carbonate, FOB US Gulf.
APAC
In Q3 2024, the APAC region experienced mixed price fluctuations for Calcium Carbonate. In the first half of the quarter, the Chinese construction industry faced a significant decline in demand for Industrial Grade Calcium Carbonate, exerting downward pressure on prices. This seasonal lull followed the post-monsoon period, characterized by reduced construction activity due to wet ground conditions and holiday breaks. Producers had accumulated high inventory levels in anticipation of peak demand, which further contributed to the price decline. Stable raw material costs, particularly limestone, allowed manufacturers to lower their pricing strategies. The broader downturn in China’s real estate market exacerbated these challenges within the Calcium Carbonate sector. However, a notable uptick in prices occurred in the latter half of Q3, particularly in China, where the market experienced significant price changes. This surge was driven by a resurgence in construction activity, fueled by government investments in infrastructure projects and real estate development. Supply constraints, including adverse weather conditions and maintenance shutdowns at production facilities, also tightened market conditions and contributed to rising prices. Overall, the region exhibited varied sentiment with balanced inclines and declines in prices, with China leading the way. Despite a -12% change from the previous quarter, the latter half of Q3 saw a 1% price increase. The quarter-ending price for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai in China was recorded at USD 102/MT, reflecting a consistently rising pricing environment.
Europe
In Q3 2024, Belgium's market for Industrial Grade Calcium Carbonate experienced a notable decline in prices, primarily influenced by a weakened construction sector and seasonal factors. At the start of the quarter, stable pricing dynamics were observed, but demand remained moderate due to a seasonal lull and holiday-related delays in project approvals. High inventory levels, built up in anticipation of summer activities, contributed to price stability, despite a forecasted 3% decline in construction output for 2024. However, as the quarter progressed, increased domestic production stemming from improved efficiencies and new capacities led to market surpluses, putting downward pressure on prices. By the end of the quarter, prices continued to drop due to these elevated supply levels and adjusted inventories. The broader EU context projected a 1.5% decline in construction volumes for 2024, highlighting ongoing challenges in the sector. Despite emerging signs of recovery in housing and building permits, overall demand for Calcium Carbonate in Belgium remained low, resulting in bearish market sentiment by the end of the quarter. Overall, the region exhibited negative sentiment, with an 8% decline from the previous quarter. A 4% decrease was noted when comparing the first half of the quarter to the second half. The quarter-ending price for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai in China was recorded at USD 102/MT, reflecting a consistently rising pricing environment.
For the Quarter Ending June 2024
North America
In Q2 2024, Calcium Carbonate pricing in North America displayed a mixed trend influenced by various factors. In April, prices for food-grade calcium carbonate in the USA dropped by 5% due to an oversupply from increased domestic production and higher imports from Mexico and Canada. Seasonal slowdowns in food production and reduced demand from export markets exacerbated this surplus.
In May, prices increased by 1% as supply chain disruptions, including planned maintenance and transportation issues, tightened the market. Unexpected production stoppages and feedstock shortages, combined with seasonal demand for summer production, contributed to this uptick. Despite stable raw material costs, heightened transportation costs and trade restrictions influenced export dynamics.
June saw a further 3% increase in FGCC prices, reversing the previous month's decline. This rise occurred despite seasonal demand lulls and high inventory levels, supported by stable domestic production and raw material costs. The market adjusted to supply and demand fluctuations, with economic stability providing a supportive backdrop.
The food-grade calcium carbonate market experienced a mixed trend and US Gulf priced at USD 680/MT. Despite a -6% price change from the previous quarter, the market saw fluctuations with April's 5% price drop due to oversupply and low demand. May's 1% price increase was driven by supply chain disruptions and seasonal demand, while June’s 3% rise reflected stable production amidst high inventories. Factors such as increased downstream demand, supply chain challenges, and inflationary pressures contributed to price adjustments, while declining demand in some sectors and heightened competition exerted downward pressure. Overall, the quarter highlighted a complex interplay of supply, demand, and external factors impacting pricing dynamics.
APAC
In Q2 2024, the calcium carbonate market in the APAC region has predominantly experienced a downward pricing trend, reflecting a consistent decrease throughout the quarter. Several critical factors have influenced this decline in prices. A notable slowdown in demand from downstream industries such as construction, paper, and paints has exerted significant downward pressure on the market. This reduced demand has been exacerbated by high inventory levels held by producers and distributors, who have subsequently reduced prices to clear excess stock. Additionally, an increase in production capacity, coupled with heightened output from existing facilities, has contributed to a market surplus. Seasonal factors, including a lull in construction activities, have further impacted on demand, driving prices down. Export dynamics have also played a role, with weaker demand from regional markets influencing domestic surplus and pricing strategies.
Focusing on China, which has seen the most substantial price changes, the overall trend has been unmistakably bearish. The calcium carbonate market here has been influenced by a combination of high inventory levels, surplus production, and subdued demand from critical industries. Seasonal slowdowns have particularly affected construction-related applications, leading to decreased consumption. When viewed against the preceding quarter of 2024, there has been a 9% decline, underscoring the sustained bearish sentiment throughout the period. A comparative analysis between the first and second halves of the quarter shows a 6% drop, emphasizing ongoing market challenges. The latest quarter-ending price stands at USD 108/MT for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai, reflecting a persistently negative pricing environment.
Europe
In Q2 2024, the European calcium carbonate market experienced a pronounced decline in prices due to a confluence of factors. The quarter was marked by an overall bearish sentiment driven primarily by surplus supply and reduced demand across various sectors. The seasonal slowdown in construction activities, coupled with the increased adoption of alternative materials such as fly ash and ground limestone, significantly curtailed the demand for calcium carbonate. Additionally, heightened import volumes from neighboring countries exacerbated the oversupply situation, leading to intense price competition. This glut was further compounded by slightly decreased raw material costs, which kept production expenses low and enabled manufacturers to maintain or lower their selling prices.
Focusing on Germany, the market exhibited the most notable price changes within the region. The overall trend for calcium carbonate pricing was decidedly negative, influenced heavily by seasonal factors and an economic environment that favored cost-cutting and efficiency improvements. From the previous quarter in 2024, prices declined by 7%, underscoring a persistent downward trajectory. Even within the quarter, the first and second halves saw a 4% price reduction, highlighting continuous market pressure.
The latest quarter-ending price for Industrial Grade Calcium Carbonate CFR Hamburg stood at USD 302/MT. This sustained decline underscores a negative pricing environment, driven by an oversupply and subdued demand, which has rendered the market less favorable for producers despite stable production costs.
For the Quarter Ending March 2024
North America
Throughout Q1 2024, the pricing dynamics of Calcium Carbonate in North America were shaped by several factors. Initially, the market witnessed a surge in prices during the first two months, driven by a combination of limited supply and robust demand, creating a bullish market environment. However, the trend reversed in the last month of the quarter, with prices experiencing a decline.
January commenced with an incline in pricing attributed to global supply chain disruptions, notably in materials like calcium carbonate. This scarcity intensified market dynamics, leading to competitive trading and potential inventory challenges for manufacturers. February sustained the upward trend as demand surged from food and pharmaceutical industries, resulting in tightened supplies and elevated prices. However, March witnessed a decline in prices for food-grade calcium carbonate in the USA due to seasonal shifts and increased production.
Despite this temporary dip, the overall quarterly trend remained upward, reflecting persistent supply chain challenges. Prices concluded the quarter at USD 746/MT, indicating a quarterly incline despite fluctuations. Throughout the quarter, challenges in procurement and logistics underscored the fragility of the supply chain, emphasizing the need for resilience and adaptability in the face of evolving market dynamics.
APAC
The pricing of Calcium Carbonate in the APAC region for Q1 2024 has been influenced by various factors. Overall, the market has experienced a bearish trend, with prices declining compared to the previous quarter. In China, which has seen the maximum price changes, the market has been particularly affected by factors such as the seasonal lull in demand from industries like construction and paper production. This has led to lower consumption rates and downward pressure on prices. Additionally, Chinese producers have faced high inventory levels due to sluggish demand, resulting in price competition to clear excess stocks. The surplus supply has been exacerbated by stable or increased production rates, further driving prices down.
Government policies aimed at boosting domestic production have also contributed to the surplus supply. Furthermore, the decline in China's manufacturing sector, as indicated by the decrease in the Purchasing Managers' Index (PMI), has influenced calcium carbonate prices. The drop in demand during the winter months and the slowdown in the construction industry have also contributed to the bearish market trend.
In terms of price comparison, the first half of the quarter has seen a slight decrease in prices compared to the second half. The quarter-ending price for Q1 2024 is recorded at USD 123/MT of Calcium Carbonate (GCC) IndlGrade FOB Shanghai in China. Overall, the pricing environment for Calcium Carbonate in Q1 2024 has been negative, with prices declining due to factors such as reduced demand, surplus supply, and increased production cost.
Europe
In Q1 2024, the pricing environment for Calcium Carbonate in the Europe region has been influenced by various factors. Overall, the market has experienced downward pressure on prices due to excess supply and reduced demand. This has resulted in a bearish market situation.
One significant factor impacting prices is the economic slowdown, which has led to a decrease in the need for construction materials, a key application for Calcium Carbonate. This has created an excess supply and potential price drops. However, stabilizing energy costs, particularly in natural gas used in Calcium Carbonate production, have helped ease expenses and limit supply constraints. Trade disruptions due to political tensions or logistical issues have also had an adverse impact on Calcium Carbonate import/export.
When examining the pricing trends specifically in Belgium, it is evident that the market has seen significant price changes. Prices have declined by 4% compared to the previous quarter in 2024. The first half of the quarter showed a slight increase in prices, but the second half witnessed a decrease. The quarter-ending price in Belgium stands at USD 297/MT of Calcium Carbonate Industrial Grade FOB Antwerp. Overall, the pricing environment in Belgium has been negative, with prices experiencing a downward trend.
