For the Quarter Ending December 2024
North America
In Q4 2024, Fluorspar prices showcased mixed market dynamics impacting in the North American market. The demand for Fluorspar remained robust due to its critical role in the production of AHF, which is essential for manufacturing fluoropolymers, refrigerants, and specialty chemicals. The cost of key raw materials, such as sulfuric acid and hexafluoropropylene, remained stable, preventing significant price fluctuations for Fluorspar.
Despite some challenges faced by the domestic fluorspar industry, such as limited upstream mining supply and regulatory hurdles, U.S. Fluorspar producers managed to maintain steady operations, with production rates remaining relatively stable. The stability in mining operations and consistent demand from AHF and coatings activities helped to stabilize Fluorspar prices. Additionally, the ongoing phased-out production from outdated mines, coupled with the difficulty in exploring new mineral deposits, further constrained supply, but the overall market remained steady.
While there were some shipping challenges due to potential labor disruptions and rising tariffs, these had minimal impact on the domestic market’s price stability, with most prices remaining unchanged throughout the quarter.
APAC
In Q4 2024, the Fluorspar market in the APAC region showed stability, with prices experiencing modest increases, driven by steady demand from key industries such as aluminum production, refrigerants, and anhydrous hydrofluoric acid (AHF) production. The cost of sulfuric acid, a key feedstock in Fluorspar extraction, remained relatively stable in October, easing potential cost pressures on Fluorspar production. Despite earlier price fluctuations in sulfuric acid, their overall impact on Fluorspar prices was minimal.
Market participants remained optimistic, especially with the continued strong demand for AHF, which is crucial for producing fluoropolymers and specialty chemicals, propelling Fluorspar consumption in the region. However, the market faced some logistical challenges, particularly in Southeast Asia, where disruptions at major ports due to seasonal factors and typhoon threats contributed to supply chain difficulties.
Despite these disruptions, demand for Fluorspar remained robust, with growing consumption driven by its role in the manufacturing of fluoropolymers used in sectors like construction and automotive. Analysts expect Fluorspar prices to stay supported by stable raw material costs and controlled production levels, alongside a steady demand outlook from AHF production facilities. While energy price fluctuations and geopolitical tensions in Europe and the rest of the world could influence global Fluorspar dynamics, the outlook for the APAC region remains positive heading into Q4 2024.
Europe
In Q4 2024, the European Fluorspar market experienced bullish behavior, with prices holding steady due to balanced supply and demand dynamics. The demand for Fluorspars remained strong, particularly from wastewater treatment, paper, and textile industries, as tightening environmental regulations and an increasing focus on sustainability continued to drive growth in these sectors.
The water treatment sector saw heightened demand due to industrial activity and seasonal factors like the winter months, which boosted the need for effective water management solutions. The drop in crude oil prices offered relief to production costs, contributing to price stability in the region. The supply chain remained tighter amidst the congestion and the strike throughout the quarter impacting the supply flow.
Despite these positive conditions, the European market faced challenges due to the broader economic slowdown, particularly in the petrochemical sector, which dampened growth prospects. Nonetheless, the ongoing demand for water treatment solutions and sustainability-focused industrial practices helped maintain a stable Fluorspar market across Europe throughout the quarter.
MEA
In Q4 2024, the Fluorspar market in MEA region demonstrated a generally stable performance, with prices experiencing slight increases in October and November before facing a decline in December. Throughout the quarter, stable raw material costs, particularly sulfuric acid and hexafluoropropylene, helped maintain price stability.
The demand for Fluorspar remained strong, primarily driven by key industries such as aluminum production, refrigerants, and the manufacturing of anhydrous hydrofluoric acid (AHF), which provided consistent support to the market. In November, demand from AHF production facilities continued to bolster confidence in the market, contributing to a more optimistic outlook.
However, the MEA region saw a slowdown in December, influenced by the global dip in industrial activity during the festive season. While domestic production remained steady, challenges in upstream mining and logistics, including port disruptions and shipping concerns, impacted the overall market. Despite these challenges, the Fluorspar market in the MEA region ended the quarter on a stable note, with a positive demand outlook for the coming months into 2025.
For the Quarter Ending September 2024
North America
In Q3 2024, the Fluorspar market in North America witnessed a downturn, with prices experiencing a notable decrease of 2%. This decline was primarily influenced by a combination of factors such as weakened demand from key downstream sectors, including refrigerant and battery manufacturing, leading to an oversupply situation.
Additionally, manufacturers in exporting countries faced higher production costs due to rising fluorite prices upstream, further impacting market dynamics. The seasonality factor also played a role, with the monsoon season traditionally affecting demand negatively. The overall supply chain had been functioning at a somewhat slower pace. Mexico remained the U.S.'s top trading partner, though Mexican carriers encountered challenges like capacity limitations and a driver shortage.
To mitigate potential disruptions, logistics teams had to be ready for changes in cross-border transportation programs. Truck freight across North America had steadily increased over the past three years, with only two slight decreases during that time. During the quarter, no major disruptions or plant shutdowns were reported, contributing to the stable supply situation. This, combined with the aforementioned factors, led to a challenging pricing environment characterized by decreasing prices and moderate demand levels.
APAC
In Q3 2024, the APAC region experienced a downturn in Fluorspar prices, with Japan being the most impacted by significant price changes. The market witnessed a negative trend, influenced by various factors such as reduced demand from downstream industries like construction and refrigerants, leading to weakened market fundamentals. Adverse weather conditions in key production areas, disruptions in logistics activities, and operational challenges further contributed to the price decline. The quarter recorded a notable -2% decrease from the previous quarter, reflecting the challenging market conditions. Asian ports had been bracing for Super Typhoon Yagi, one of the most powerful storms of the past decade, which had impacted the container flow. The storm brought strong winds, heavy rain, and coastal flooding. Additionally, adverse weather in southern areas, including high temperatures and heavy rainfall, had further complicated fluorite mining activities. Consequently, raw material shortages had limited the operational capacity of fluorite enterprises, maintaining tight supply despite some downward pressure on prices. In the hydrogen fluoride sector, many production facilities had remained shut down, waiting for improved market conditions to resume operations.
Europe
In Q3 2024, the Europe region saw a notable decline in Fluorspar prices, driven by several contributing factors. Supply limitations, caused by challenges in the global freight industry and port congestion, were inclusive of the impacting factors. Additionally, the eurozone's manufacturing sector showed signs of weakness, leading manufacturers to limit discounts and adjust output charges, which contributed to the overall bullish market sentiment. Seasonal trends and market dynamics played a key role in shaping the price trajectory, with a 2% price variation between the first and second halves of the quarter. Seasonal factors resulted in reduced consumption, while an oversupply—driven by improved production efficiency and capacity expansions—put further downward pressure on prices. High inventory levels and increased exports from the region also amplified the price decline. Despite the EU's efforts to achieve climate neutrality, progress in reducing greenhouse gas emissions from the transport sector has been slow. The strike by port workers at Bremerhaven and the Port of Hamburg had disrupted operations for several days due to a dispute between workers' unions and the Central Association of German Seaport Operators (ZDS) over collective wage bargaining negotiations. As these negotiations entered their third round, there had been the potential for further industrial action by port workers to press for their demands, which could have impacted the fluorspar supply chain.
MEA
The third quarter of 2024 for Fluorspar pricing in the MEA region has been challenging, with prices experiencing a consistent decline. Several factors have influenced this downward trend, including subdued demand from the construction sector, increased supply-side pressures, and weakened sales both domestically and internationally. Despite moderate supply levels, operational disruptions, and longer lead times contributed to the overall negative sentiment in the market. South Africa, in particular, witnessed the most significant price changes, with prices dropping by 2% from the previous quarter. Overall, the pricing environment has been unfavorable, with prices consistently decreasing throughout the quarter, highlighting a challenging period for Fluorspar in the region. Plant shutdowns during the quarter added further strain to an already struggling market. The steady influx of new orders in the domestic construction industry had resulted in a decline in Fluorspar's sales volumes. Despite this, demand for Anhydrous Hydrofluoric Acid had remained weak, according to market participants. Meanwhile, inquiries from European countries had been muted, as ongoing inflationary pressures continued to impact their purchasing.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Fluorspar market experienced an upward pricing momentum due to a confluence of factors. Key drivers included robust demand from the downstream refrigerant and construction industries, constrained supply due to reduced operating rates among manufacturing firms, and increased freight costs. The refrigerant sector, critical for hydrofluoric acid production, saw heightened activity, particularly during the peak summer season, which exacerbated supply tightness and further drove prices up. Additionally, global steel demand projections and rising crude oil prices contributed to elevated operating expenses, indirectly influencing Fluorspar pricing.
Focusing on Mexico, this region witnessed the most pronounced price changes in North America. The market's bullish sentiment was underpinned by a steady demand from the refrigerant and construction sectors, coupled with limited supply. Seasonality played a pivotal role, with summer peaks tightening supply and escalating prices. Compared to the previous quarter, Fluorspar prices in Mexico surged by 7%, reflecting a strong market. In the first half of Q2, prices saw a gradual increase, accelerating in the latter half by 3%, culminating in a quarter-ending price of USD 465/MT.
Overall, the pricing environment for Fluorspar in Q2 2024 was decidedly positive, driven by persistent demand and supply constraints, with no significant plant shutdowns reported. This consistent upward trend highlights the robust market dynamics in North America, positioning Fluorspar prices on a stable, growth-oriented trajectory.
APAC
The second quarter of 2024 has witnessed a significant surge in Fluorspar prices across the APAC region, driven by active demand from downstream industries, particularly the refrigerant sector. This period has been characterized by heightened procurement activities as manufacturers ramped up operations to meet seasonal demands, creating bullish market sentiments. In addition, supply-side constraints due to reduced operating rates and strategic plant shutdowns during key holidays in major manufacturers, in China have further exacerbated price pressures. The confluence of these factors has resulted in a pronounced upward trajectory in Fluorspar prices throughout the quarter. Japan, in particular, has experienced the most substantial price increases within the APAC region. The market dynamics in Japan saw significant price inflation, primarily attributed to the strong demand from the refrigerant industries and the limited availability of Fluorspar due to international disruptions and local manufacturing constraints. The first half of the quarter experienced a notable price hike compared to the latter half, reflecting intensified procurement activities and strategic inventory management by manufacturers. Overall trends indicate a positive pricing environment driven by seasonal demand surges and supply limitations. The quarter concluded with Fluorspar prices peaking at USD 580/MT CFR Osaka in Japan, highlighting sustained bullish sentiments and market optimism. This consistent increase underscores the robust market conditions and the critical influence of supply-demand dynamics in shaping Fluorspar prices in the APAC region.
MEA
In Q2 2024, the Fluorspar market in the MEA region experienced a significant surge in prices driven primarily by robust demand from downstream refrigerant industries and constrained supply conditions. The quarter saw an escalating need for refrigerants, propelled by heightened consumption of air conditioning and refrigeration units. This increased demand, coupled with limited production, amplified supply-side pressures, leading to substantial price hikes. Further exacerbating the situation were global shipping disruptions, elevated freight rates, and logistical bottlenecks, which collectively intensified procurement costs. Additionally, the expansion of the refrigerant industry and ongoing constraints in manufacturing capacities have also played pivotal roles in sustaining high Fluorspar prices. Focusing on South Africa, the country recorded the most pronounced price changes in the region. The South African Fluorspar market witnessed overall bullish trends, driven by seasonal demand peaks, particularly from refrigerant industries during the summer months. The market dynamics were further influenced by a modest rebound in mining production. However, frequent logistical challenges escalated shipping costs, and limited operating rates among manufacturing firms contributed significantly to price volatility. A comparative analysis between the first and second half of the quarter indicated a 4% increase in prices, illustrating the consistent rising trend. The quarter concluded with Fluorspar priced at USD 485/MT Ex-Durban, underscoring a positive pricing environment buoyed by strong demand, constrained supply, and seasonal factors.
For the Quarter Ending March 2024
North America
Fluorspar pricing in the North America region for Q1 2024 has been characterized by mixed trends and fluctuations. Overall, the market has experienced a bearish sentiment, with prices declining in January before rebounding slightly in March. The decline in prices can be attributed to weak demand from the construction sector, particularly in Mexico, where the market saw the maximum price changes.
Factors such as reduced activity during the winter season and sluggish inquiries from the downstream construction and refrigerant industries have contributed to the decrease in demand for Fluorspar. Additionally, the oversupply of Fluorspar in the market and the destocking season have intensified competition among suppliers, leading to price reductions.
On the supply side, the availability of Fluorspar has been moderate, with operating rates of manufacturing firms not fully rebounding. However, concerns over shipping disruptions in the Red Sea and the rerouting of vessels have added to supply-side pressures. Looking at the price changes within the quarter, prices decreased by 4.5% in February before increasing by 2.4% in March. This indicates a somewhat volatile pricing environment, with fluctuations driven by demand and supply dynamics. In Mexico specifically, the price of Fluorspar at the end of the quarter was USD 435/MT.
APAC
The pricing environment for Fluorspar in the APAC region during Q1 2024 has demonstrated a volatile trend. The market has been influenced by various factors that have led to a fluctuation in prices. In Januarys, there has been a lack of demand from the downstream industries, particularly the construction and refrigerant sectors. This has resulted in lower inquiries and reduced market activity, leading to bearish market sentiments. Additionally, the Spring Festival holidays have further dampened demand, with construction activities halted during this period. The operating rates of Fluorspar manufacturing firms have also been under pressure, further impacting supply.
In China, which has seen the maximum price changes, the situation is similar. Weak demand from the construction sector and low inquiries from the hydrofluoric acid industries have contributed to the bearish market sentiments. The market transactions have primarily been based on immediate requirements, and manufacturers have been forced to lower their prices in response to weak demand and limited buying interest.
However, in March, the prices of Fluorspar have improved. Amid limited supplies of the finished goods, the demand from the downstream refrigerant industries has also picked up, strengthening the market fundamentals of Fluorspar. As a result, Major Fluorspar producers have implemented price hikes, further contributing to this trend. The latest quarter-ending price for Fluorspar in China is USD 462/MT, Ex Shanghai.
MEA
The pricing environment for Fluorspar in the MEA region during Q1 2024 has demonstrated a mixed trend, with South Africa experiencing the maximum price changes. Several factors have influenced market prices, including weak demand from the downstream construction sector and sluggish inquiries from the Hydrofluoric Acid industries. This has led to an oversupply of Fluorspar in the market, as producers have struggled to offload their inventories at previous levels. As a result, manufacturers have been compelled to lower their prices to stimulate buying interest and clear excess stock.
The typical winter slowdown in construction activity has exacerbated the market's sluggishness, prolonged the oversupply scenario and placed downward pressure on prices. In terms of supply, the availability of Fluorspar has been moderate, with operating rates of manufacturing firms not fully rebounding. However, mining production in South Africa has shown some improvement, easing supply concerns. In March, the rise in inquiries from the downstream Refrigerant industries has led to bullish Fluorspar market sentiments.
Looking at the overall trends, seasonality has played a role in the price changes, with the first half of the quarter experiencing a decline in prices compared to the second half. The latest quarter-ending price for Fluorspar in South Africa is USD 450/MT, Ex-Durban.
