For the Quarter Ending September 2024
North America
In Q3 2024, the North American hydrobromic acid market experienced a sharp decline in prices, with the most notable impact observed in the USA. Multiple factors contributed to hydrobromic acid price drop, including reduced demand from downstream industries such as flame retardants and chemical intermediates, both domestically and internationally, due to sufficient material availability in the consumer markets.
Additionally, decreased consumer spending in the USA further dampened hydrobromic acid consumption. The ongoing conflict in the Middle East also disrupted imports, adding to the pressures on market dynamics. Comparing Q3 2024 to the same period last year, prices dropped by significant margins, reflecting difficult market conditions in the North America region.
Furthermore, quarter-on-quarter prices also decreased, with a consistent downward trend throughout the quarter. The latter half of the quarter continued to follow the broader price decline, ultimately concluding at subdued levels, signaling a persistently bearish pricing environment that reflects ongoing challenges such as reduced consumer demand and increased competition in the market landscape.
APAC
In Q3 2024, the Hydrobromic Acid market in the APAC region experienced a significant decline in prices, with China showing the most substantial price changes. Factors influencing this trend include weak consumer demand, oversupply issues, and reduced support from upstream markets like Bromine. High inventory levels, sluggish consumption rates, and challenges in the downstream pharmaceutical sector have contributed to the downward price trajectory. The overall trend in the region has been bearish, with prices falling by 18% compared to the same quarter last year. Furthermore, there was a 7% decrease from the previous quarter in 2024, indicating a continuous downward trend. The price comparison between the first and second half of the quarter revealed a 3% decrease, highlighting the sustained price decline. The quarter-ending price of USD 1940/MT of Hydrobromic Acid 48% FOB- Shanghai in China signifies the prevailing negative sentiment, reflecting a pricing environment that has been consistently decreasing throughout Q3 2024 due to subdued demand and oversupply pressures in the market.
Europe
In Q3 2024, the hydrobromic acid market in the Europe region experienced a downward trend in prices, influenced by several key factors. A notable decrease in demand from downstream sectors, particularly in the production of flame retardants and specialty chemicals, contributed to an oversupply situation, exerting downward pressure on hydrobromic acid prices. Increased production rates from major manufacturers, combined with ample material availability, further exacerbated the pricing challenges. Additionally, ongoing geopolitical tensions and supply disruptions in the region impacted market dynamics, creating further uncertainty. Specifically, in the Western European market, hydrobromic acid prices saw significant fluctuations throughout the quarter. The overall pricing trend remained negative, reflecting a substantial decrease compared to previous quarters, as well as the previous year. The market ended the quarter with a notable decline in prices, underscoring the prevailing bearish sentiment driven by reduced demand and competitive supply conditions. The closing price of hydrobromic acid in the region highlighted the challenges faced by producers amidst ongoing market volatility.
For the Quarter Ending June 2024
North America
In Q1 2024, the US Hydrobromic Acid market maintained a mixed trend. Subdued demand from downstream sectors such as solvents and chemical manufacturing, combined with an oversupply and inventory destocking by consumers, led to reduced production rates by domestic manufacturers. The slow influx of new orders from international markets further affected the market. During the first month, the support from the upstream Bromine market dropped due to minor price adjustments by sellers, despite stable demand from flame retardant and intermediate industries. Economic improvements and increased consumer spending bolstered market fundamentals, but imported supplies were constrained by ongoing Middle East tensions.
Prices stabilized towards the end of the quarter but remained largely unchanged, with minimal variation in offered quotations. Although the US experienced significant price fluctuations, market sentiment was relatively stable, influenced by trends in the upstream Bromine market. Israel's weakened exports impacted the market, though a leading US bromine manufacturer ended the fiscal year positively, with strong prospects for growth, particularly from projects in Arkansas. However, geopolitical tensions, including recent attacks and disruptions in the Strait of Hormuz, have affected global trade routes and container shipping.
Despite the recession, inflation, and geopolitical uncertainties, consumer confidence in the US grew in February and March, suggesting positive expectations for future business conditions. Overall, the North American Hydrobromic Acid market faced challenges like weak demand and bearish sentiment, reflected in a notable price decrease compared to the previous year. Overall, while demand remains steady, logistical issues and rising freight rates have added strain to the market.
APAC
In Q2 2024, the APAC region witnessed a sustained decline in Hydrobromic Acid prices, driven by several significant factors. During this quarter, the market for Hydrobromic Acid was heavily influenced by a persistent oversupply condition and weak consumer demand from international markets. The downstream industries, particularly solvent manufacturing, and the pharmaceutical sector, faced sluggish consumption, exacerbated by reduced industrial activities and increased production rates leading to high inventory levels. Additionally, steady ocean freight rates in the early part of the quarter, despite rising mid-month peak season surcharges, contributed to a complex pricing environment. Focusing on China, which experienced the most pronounced price changes, the overall trend was marked by a bearish sentiment. Seasonal factors, such as reduced industrial activity and economic slowdowns, compounded by ongoing supply chain disruptions, led to significant price drops. The price of Hydrobromic Acid in China declined by 20% compared to the same quarter last year, reflecting substantial market contraction. From the previous quarter in 2024, prices fell by 9%, indicating continued downward pressure. A further 4% price decline was observed between the first and second halves of Q2, underscoring the sustained negative trend. The latest quarter-ending price for Hydrobromic Acid 48% FOB Shanghai was USD 2050/MT, encapsulating the consistent decline throughout the quarter. The pricing environment has been decidedly negative, influenced by oversupply, weak demand, and economic uncertainties, signaling a challenging market landscape for Hydrobromic Acid in China and the broader APAC region.
Europe
In Q1 2024, the European Hydrobromic Acid market experienced volatility due to a combination of supply and demand factors. On the supply side, decreased prices of upstream raw materials, particularly Bromine, reduced cost support. Supply chain disruptions were exacerbated by high freight charges stemming from geopolitical tensions in the Middle East, affecting key shipping routes such as the Red Sea and the Suez Canal. Conflicts, including the Israel-Hamas tension and actions by Yemen’s Houthi forces, contributed to these challenges. Demand remained weak, with downstream industries showing low consumption levels domestically and internationally due to high existing inventories and reduced new order volumes. In the upstream Bromine market, Israel's reduced exports have influenced the market, but a major US bromine manufacturer concluded the fiscal year on a positive note, buoyed by promising growth prospects from its Arkansas projects. Despite this, geopolitical tensions, such as recent attacks and disruptions in the Strait of Hormuz, have disrupted global trade routes and container shipping. Germany’s economic situation, Europe’s largest economy, showed limited recovery, with high financing costs and sluggish domestic demand dampening business and consumer confidence. This was reflected in reduced market transactions and trading activity, with only marginal improvements reported in industrial production, construction, and foreign trade.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the US Hydrobromic acid market continued to display a bearish pricing trend. Demand from downstream industries like solvents and chemical manufacturing remained subdued, primarily due to oversupply and consumers destocking inventories. Consequently, domestic manufacturers scaled back production rates. The slow influx of new orders from overseas markets further impacted the market dynamics.
While the prices of Hydrobromic acid stabilized towards the end of the quarter, the overall market outlook remained unchanged, with offered quotations showing little variation. The USA experienced significant price fluctuations, yet market sentiments largely remained stable. Throughout Q1 2024, Hydrobromic acid prices were heavily influenced by the upstream Bromine market, following a similar trend in the region.
Despite concerns about potential recession, inflation, and geopolitical uncertainties, consumer confidence in the US saw growth in both February and March, indicating positive expectations for future business conditions. Overall, the North American Hydrobromic acid market encountered challenges such as weak demand, bearish sentiments, and uncertain business conditions. Prices reflected these challenges, experiencing a notable decrease compared to the previous year.
APAC
The pricing of Hydrobromic Acid in the APAC region during Q1 2024 has been influenced by several key factors including ample availability of inventories. Overall, the market has experienced a stable pricing environment with some slight fluctuations. In general, the demand from downstream industries such as petroleum refining, solvents, and chemical manufacturing has remained moderate to firm. This steady demand has supported the pricing of Hydrobromic Acid in the region.
Additionally, the availability of sufficient material in the domestic market has contributed to the stability of prices. The cost support from upstream bromine has remained stable, with no significant changes observed. When specifically looking at China, the pricing trends have shown a slight increase during the quarter. This can be attributed to increased manufacturing costs due to higher prices of upstream bromine.
However, the demand from downstream industries in China has remained moderate, leading to average market transactions. Overall, the pricing environment for Hydrobromic Acid in Q1 2024 has been stable in the APAC region. The latest quarter-ending price recorded in China was USD 2240/MT for Hydrobromic Acid 48% FOB- Shanghai.
Europe
In the first quarter of 2024, the Hydrobromic acid market in Europe experienced fluctuations due to a complex interplay of factors affecting both supply and demand. On the supply side, production felt the impact of declining costs of upstream raw materials like Bromine, which saw decreased price support during the quarter. The supply chain also faced challenges due to elevated freight charges resulting from ongoing geopolitical tensions in the Middle East, particularly affecting vital shipping routes such as the Red Sea and the Suez Canal, thereby influencing the overall costs of Hydrobromic acid.
These disruptions in the supply chain were notably pronounced due to conflicts such as the Israel-Hamas tension and actions by Yemen's Houthi forces. Meanwhile, demand remained subdued; downstream industries displayed weak consumption patterns both domestically and internationally. This was partly attributed to high existing inventories among consumers, which curtailed new order volumes.
Additionally, the economic climate in Germany, Europe's largest economy, did not demonstrate signs of a robust recovery, with elevated financing costs and sluggish domestic demand continuing to dampen consumer and business confidence. These factors were evident in limited market transactions and reduced trading activity, with the German economy ministry reporting only marginal improvements in industrial production, construction, and foreign trade.
For the Quarter Ending December 2023
North America
The US Hydrobromic acid market showcased a bearish pricing trend in the fourth quarter of 2023. The overall demand from the downstream industries, such as solvents and chemical manufacturing industries, reduced due to oversupply and the destocking of inventories by consumers, leading to manufacturers decreasing production rates in the domestic region.
The slow inflow of new orders from the overseas consumer market also impacted the market. The prices of Hydrobromic acid stabilized towards the end of the fourth quarter in the US domestic market, with no significant changes in market outlook observed, and the offered quotations remained unchanged. The USA experienced the maximum changes in price, and the market sentiments remained mostly stable.
Throughout Q4 2023, the prices were influenced by the upstream Bromine market and followed a similar trend in the region. Despite worries about a potential recession, inflation, and geopolitical uncertainties, consumer confidence in the US grew in both November and December, indicating positive expectations for future business conditions. Overall, the Hydrobromic acid market in North America faced challenges due to weak demand, bearish market sentiments, and uncertain business conditions. The prices reflected these conditions, with a notable decrease compared to the previous year.
APAC
The APAC region witnessed various factors that impacted the pricing of Hydrobromic Acid in the fourth quarter of 2023. Firstly, there was a moderate supply of Hydrobromic Acid in the market, as domestic production firms operated at an optimum pace, ensuring sufficient material availability. Additionally, the market situation was bearish, with prices experiencing fluctuations throughout the quarter. However, the overall trend for Hydrobromic Acid in China showed a decrease in prices from the previous quarter, with a decline of 1.9%. One significant factor influencing the market was the built-up inventories of the product in the domestic market, leading to a bearish market situation. Moreover, the pricing trend in China exhibited a correlation between the market situation and supply, with prices decreasing in line with the bearish market and moderate supply. Comparing the prices to the same quarter of the previous year, there was a significant decrease of 30%. However, when comparing the prices to the previous quarter, there was a minor decrease of 2%, indicating relative stability. In conclusion, the fourth quarter of 2023 witnessed a bearish market situation and a moderate supply of Hydrobromic Acid in the APAC region. The latest price of Hydrobromic Acid 48% FOB- Shanghai in China for the current quarter is USD 2480/MT.
Europe
In the fourth quarter of 2023, the European Hydrobromic acid market exhibited mixed sentiments and the prices fluctuated throughout the period. Sluggish demand, high inventories, and fluctuating production costs were a few of the factors that supported the price oscillation in Q4. Furthermore, due to unstable support from the upstream Bromine market, the manufacturing costs also dwindled. During this period, the demand from the downstream solvent and chemical manufacturing industries remained low to moderate whereas, the impact of economic uncertainties continued to influence the chemical market in the region. Additionally, the manufacturing firm reported shrinking profit margins due to continued deflating prices and heightened competition from other hydrobromic acid markets across the globe. Throughout December, prices continued to decrease due to ongoing subdued demand. Downstream industries experienced limited consumer inquiries, resulting in negative market sentiments. This period witnessed high product inventories, with consumers actively engaging in destocking activities in the region. The reduction in industrial activity during the year-end holidays, coupled with destocking efforts, prompted manufacturing companies to either scale down their operations or temporarily suspend them.
For the Quarter Ending September 2023
North America
The US Hydrobromic acid market showcased a mixed pricing trend in the third quarter of 2023. The prices fluctuated throughout the period due to weak demand in the downstream solvents manufacturing and other end-use industries, imports of low-priced goods, and high material availability in the regional markets. In the first month, consumer inquiries from both domestic and international markets declined, resulting in bearish market sentiments in the area. In terms of production, the manufacturing costs also fluctuated throughout this period as the prices of upstream Bromine oscillated. On the supply side, product imports slowed down due to adequate material availability in the region. In the second month, the prices were overall stable as no significant changes in the market outlook were observed. Additionally, high-interest rates, high inflation, and slow demand conditions across the globe also impacted the market outlook of Hydrobromic acid in the USA. On the other hand, the imports of cheaper goods also led to low prices of products.
APAC
In the third quarter of 2023, the Hydrobromic acid market in APAC demonstrated mixed sentiments. In the first month, the prices declined slightly in the Chinese market due to poor demand from the solvent manufacturing and other end-use industries. However, from the last week of July onwards, the prices rode an upward trajectory throughout August. Come August, with the approach of the monsoon season, the production of seawater Bromine brine reduced, resulting in a decline in the product's availability in the domestic market, and as a result, the manufacturing costs increased. Inquiries from downstream businesses were found to be stable. The market transactions were average, and the trading mood was light, whilst product purchases were mostly based on demand. In September, the prices of Hydrobromic acid increased further in China's domestic market due to a further development in the product's production costs. However, on the demand side, the downstream solvent manufacturing and other end-use industries provided positive support, and increased purchases of the product were made. As of September 2023, the prices of Hydrobromic acid were assessed at USD 2520 per tonne.
Europe
In the third quarter of 2023, the market sentiments for Hydrobromic acid observed a bearish outlook and the prices declined month-on-month. Sluggish demand, high inventories, and low production costs were a few of the factors that supported the price decrease in Q3. Furthermore, due to low-cost support from the upstream Bromine market, the manufacturing costs also dwindled. Throughout this period, the price fell by a significant margin due to lower demand from the downstream solvent manufacturing and other end-use industries. The product's stockpiles were found to be substantial, but with decreasing customer demand, the overall pricing trend turned unfavorable. Domestic manufacturing businesses maintained regular outputs and sufficient material availability in terms of production. Moreover, amid the poor performance of China's economic recovery momentum, the demand inquiries from the downstream solvent manufacturing and other end-use industries were low, and consequently, the European Hydrobromic acid manufacturers continuously lowered their product prices. In this period, no major port congestion or supply-related issues were observed.
For the Quarter Ending June 2023
North America
In Q2 2023, the US Hydrobromic Acid market experienced a bearish trend, marked by a notable decline in prices and subdued market conditions. The prices of Hydrobromic Acid witnessed a significant decrease during the quarter, largely influenced by a sharp decline in feedstock Bromine prices. This decline in feedstock costs resulted in weak cost support for Hydrobromic Acid production in the US market. Moreover, demand from downstream industries remained low to moderate, further contributing to the bearish sentiment. The dye and pigments industry, which is a key consumer of Hydrobromic Acid, witnessed stability in demand, but new queries were limited. Additionally, the metal industry's demand remained stagnant, adding to the overall subdued market conditions. However, the market fundamentals strengthened towards the end of the quarter as the construction industry improved consumption rates, as highlighted by the improving housing sales and declining inventories. After the conclusion of the second quarter of 2023, Hydrobromic Acid prices in the US for reagent grade were assessed at USD 23400 per MT on an FOB basis.
APAC
In Q2 2023, the Chinese Hydrobromic Acid market witnessed a bearish trend, with prices experiencing a significant decline. The decrease in prices was mainly attributed to a sharp drop in feedstock Bromine prices and stagnant demand from downstream industries. Supply in the market remained moderate, with inventories at reasonable levels and feedstock Bromine prices playing a crucial role in determining the overall cost of production. The demand for Hydrobromic Acid was classified as low to moderate, with stability observed in the downstream dye and pigments industry, although new queries remained limited. However, the metal industry's demand was stagnant, contributing to the overall subdued demand scenario. The market sentiment was influenced by the normalization of global crude oil and coal prices, reducing production costs for Hydrobromic Acid. While the logistics industry in India experienced a decline, it had a limited impact on the Chinese market. After the conclusion of Q2 2023, Hydrobromic Acid prices in China were assessed at USD 2590 per MT on a FOB basis for the technical grade.
Europe
In Q2 2023, the European Hydrobromic Acid market experienced a bearish phase characterized by a decline in prices and challenging market conditions. Prices for Hydrobromic Acid witnessed a significant decrease during the quarter, impacted by several factors. The feedstock Bromine prices experienced a sharp decline, resulting in weak cost support for Hydrobromic Acid production. Additionally, the demand from downstream industries remained stagnant, further contributing to the downward pressure on prices. The overall market situation was bearish, with moderate supply levels and inventories in the region. The logistics and shipping industry in Europe also faced a slowdown, which impacted freight costs and added to the market's downward pressure. The subdued demand was particularly evident in the dye and pigments industry, where new queries were limited. Moreover, the stagnant demand from the metal industry added to the overall lackluster performance. After the conclusion of June 2023, hydrobromic acid prices in Europe were assessed at USD 21500 per MT on FD basis for reagent grade.
For the Quarter Ending March 2023
North America
Decrease in the cost of Hydrobromic Acid production rate, which, according to quotes from traders, has resulted in an overstock of the product in the USA market. The market value of the product was impacted by the sharp decline in feedstock costs for bromine and sulfur in Hydrobromic Acid. A greater supply on the local market as a result of increased production resulted in lower pricing as a result of manufacturer competitiveness over market prices. Decrease in product demand brought on by dwindling market emotions and increased use of the raw materials used to make the product.
Asia
The market value of Hydrobromic Acid depleted in the Asian market with costs at USD 3765/ton, 48% FOB Shanghai. The demand for Hydrobromic Acid decreased while the supply remained constant in the regional market, and the prices were likely to come down. The prices of raw materials, Bromine and Phosphorus, decreased, which led to a reduction in the cost of producing Hydrobromic Acid, which eventually brought down its market price. The demand for the product from PTA/ PET industries is much bleak, dominated by weak operations and falling production costs. The shipment of the product was smooth enough and resulted in abundant availability of the product in the region. The demand for Inorganic Bromides was also low, impacting the market sentiments.
Europe
The prices of Hydrobromic Acid were de-escalated in a stable trend within the European market during the first quarter of 2023. Prices were projected to decrease since there was a decline in demand for hydrobromic acid in the local market but no change in supply. Reduced pricing for the raw ingredients bromine and phosphorus resulted in lower production costs for hydrobromic acid, which finally resulted in lower market prices. Market emotions were influenced by the demand for Hydrobromic Acid from downstream inorganic bromides and PTA/PET producers in the area.
For the Quarter Ending December 2022
North America
During the fourth quarter of 2022, the costs of Hydrobromic Acid plummeted in the North American market with the plunging of feedstock Bromine and Sulphur costs. The demand for dyes and the medicinal industry fell in the regional market during the period. The demand has been narrowly spread, the market's overall support for demand has been insufficient, and the pressure on sulphur inventories has risen. As a result, the markets for phosphate fertilizer and sulfuric acid are weak. The enterprise quote has been lowered, and consumer sentiment has been weak.
Asia
The prices of Hydrobromic Acid were observed to be varying in the Asian market during the fourth quarter of 2022, with prices falling in the Chinese market and rising in the Indian market. The quotations of feedstock Bromine from the refineries and manufacturing enterprises were adjusted to an increasing level in the Chinese market during the beginning of the quarter. The demand for Hydrobromic Acid in the Chinese market further collapsed, affecting market sentiments. The operating rate of feedstock Bromine in the site increased, and the supply of Sulphur was sufficient in the Indian market by the end of the quarter. The demand from downstream pharmaceuticals and dyes intermediate market was high, with a fall in inventories in the regional market as per sourced by the traders and the suppliers. As the phosphate fertilizer winter storage market opened, the export market improved, and upstream sulphur demand increased.
Europe
In the fourth quarter of 2022, the costs of Hydrobromic Acid fluctuated in the European market with variable operating costs. The freight rates were seen to be slowing down drastically as the global supply chains reached pre-covid normalcy. German industries have been facing difficulties because of rising energy costs and uncertainties in the energy supply. This also pushed Germany's manufacturing sector into decline, with its average PMI falling to an average low. The inventories were high enough to meet the available demand in the regional market, relieving the demand pressure from the prices of Hydrobromic Acid.
For the Quarter Ending September 2022
North America
In the North American market, the prices of Hydrobromic Acid fell with a percentage change of 2.1% in July. Prices maintained their falling trajectory with time, as the demand from the domestic market decreased slightly with fluctuating freight costs which also exacerbated the overall price scenario. Falling prices of upstream feedstock Liquid Bromine and Phosphorus relieved cost pressure from the product's price. The imports of Hydrobromic Acid from Canada were high, along with decreasing marginal cost from the product. The production cost in the American market was observed to fluctuate with slow growth in labor charges.
Asia
During the third quarter of 2022, the prices of Hydrobromic Acid increased in the Asian market, ranging from INR 3315/tonne to 48% Hydrobromic Acid Ex-Mumbai in August. The prices of upstream feedstock Bromine and Sulphur were growing in the Indian market. Their inventories decreased with the falling number of products stockpiling with the traders and the suppliers. The consumption of the product from the downstream pharmaceutical and agricultural industry was rising, affecting the market sentiments. Buoyant demand from end-use industries, followed by improved availability of the product, has kept the prices of Hydrobromic Acid in a stable to narrow range in the domestic market.
Europe
The third quarter of 2022 saw a stable decrease in the prices of Hydrobromic Acid in Europe, with a fall of 2.5% in September, as recorded by ChemAnalyst pricing team data. Due to the ongoing war between Russia and Ukraine, varying global freight charges decreased their prices. Weakening feedstock Bromine prices and falling freight costs highly affected the overall margin of significant German manufacturers in the regional market. The inventories were observed to be steadying in the domestic market, increasing supply more than demand. Market sentiment was affected by the steadying of downstream pharmaceutical and agricultural consumption.
For the Quarter Ending June 2022
North America
The prices of Hydrobromic Acid were observed to be fluctuating upwards and became stable in the middle of the second quarter of 2022. The prices of upstream feedstock Bromine and Sulphur surged in the region, putting cost pressure on the product's merits. The freight charges varied and escalated upwards, with the ongoing war between Russia and Ukraine affecting the market. Surging demand from downstream PTA/PET production industries decreased the inventories, and fewer products were stockpiled. The direction of the product from downstream electronics and household appliances surged the prices. The downstream market sentiments were high.
Asia
The prices of Hydrobromic Acid surged in the Asian market during Q2, 2022, with a quarterly escalation of 9.7%, as per Chem Analyst pricing team data. Among the bromine-based specialty chemicals, the primary product is hydrobromic acid. The main customers include pharmaceutical entities, large oil and gas exploration companies, and drilling service providers, among others which are surging the demand. In addition, with the gradual increase in market demand, the sales volume of the region's hydrobromic acid increased significantly. Fewer shipments occurred due to the Russian invasion of Ukraine during the quarter, leaving the market's merchants short on supplies.
Europe
During the war, the lack of material supplies, breakdowns in coordination, and inflationary pressures were already undermining the economic rebound in Europe, with resurging demand and precautionary hoarding overwhelming supply chains. Thus, the prices of Hydrobromic Acid escalated in the European Union during the second quarter. The impact of the war in Ukraine on construction supply chains in Eastern Europe has been profound, with the region being heavily interlinked with the Russian economy and, therefore, at more significant exposure to the backlash of sanctions imposed on the country by Western governments. Global construction costs have risen rapidly in the last year due to supply chain disruptions following the sharp post-pandemic rebound in demand. This led to shortages in the supplies of raw materials of Hydrobromic Acid, which caused lead times to extend and prices to rise.
For the Quarter Ending March 2022
North America
In the first quarter of 2022, North America saw an upward trend in the price of Hydrobromic Acid ranging around USD 2340/ton CFR Illinois in USA in the month of February. The prices of Hydrobromic Acid continuously increased in the North American domestic market on the back of the rising export taxes. The fluctuating costs of upstream Liquid Bromine accelerated the Hydrobromic Acid prices in the region. The escalating offtakes from the end-user pharmaceutical and agrochemical industries are gyrating the demand for Hydrobromic Acid in the market. Amidst the increasing use of Hydrobromic Acid and bromide solution in the medical industry, an appreciable surge in price was witnessed in the quarter ending March 2022.
Asia Pacific
In Asia, the price of Hydrobromic acid was observed to be moving forward in an upward trajectory with its cost ranging around USD 6800/ton FOB Shanghai in China. With China being a major importer of upstream raw material, Bromine saw a surge in the prices in the beginning of the quarter due to disrupted freight charges. In India, the Hydrobromic Acid market appeared to be bullish, backed by the robust demand and tightened supplies. The Indian authorities have been consistently increasing import duties and generating revenue for a long time now. A significant rise in the feedstock bromine prices directly boosted the values of Hydrobromic Acid in this quarter ending March 2022.
Europe
During Q1, 2022 Europe experienced an increase in price as an effect of the alteration in the raw material prices such as bromine due to Russian invasion in Ukraine with prices ranging around USD 2480/ton FOB Rotterdam in Netherlands in the month of March. Rising demand from downstream corrosives, consumer electronics and mechanical machinery sector has been a reason for surging the prices of Hydrobromic Acid. Moreover, the soaring energy prices in the effect of the natural gas crisis whizzed the production cost across the European region, which also influenced the pricing trend of Hydrobromic Acid. Increased freight charges and shortages of shipping containers sent ripples to Hydrobromic values in the quarter ending March 2022.
For the Quarter Ending December 2021
North America
During the fourth quarter of 2021, the prices of Hydrobromic Acid experienced a steep trajectory in the North American region in effect of the hike in the raw material prices such as Bromine. In US, the demand outlook of continued to be buoyant throughout the quarter backed by the sturdy offtakes from Pharma, Agrochemicals, along with other end use industries. Despite the relaxation in the freight charges, Hydrobromic Acid offers remain strong however, in December a modest decline in prices was observed due to lull trade activities in the year end. Moreover, lower imports from China also sent ripples to the prices of Hydrobromic Acid in this timeframe.
Asia
In Asia, the prices of Hydrobromic Acid witnessed mixed sentiments varied from country to country during the fourth quarter of 2021. In the Chinese market, fluctuations in Hydrobromic Acid values were seen in Q4 depending upon the demand and supply dynamics. In November, Hydrobromic Acid prices rose effectively backed by ample offtakes from the downstream PET manufacturers while in December HBr Acid discussions tumbled down due to lower buying sentiments and lull trade activities owing to year end. In India, Hydrobromic Acid market appeared to be bullish backed by the robust demand and tightened supplies. A significant rise in the feedstock bromine prices directly boosted the values of Hydrobromic Acid in this quarter. Moreover, the domestic offers stay raised as local manufacturers kept the quotations high to safeguard their profit margins. Thus, Hydrobromic Acid 48% Ex Kolkata prices jumped from USD 2085.37/MT to USD 2423.56/MT in the timeframe of October to December.
Europe
In Europe, the pricing trend of Hydrobromic Acid experienced an upward trajectory in back of the spike in the raw material Bromine prices and firm demand from downstream industries including pharmaceuticals, agrochemicals, etc. Moreover, the soaring energy prices in effect of natural gas crisis whizzed the production cost across the European region that also influenced to the pricing trend of Hydrobromic Acid. Moreover, increased freight charges and shortages of shipping containers sent ripples to Hydrobromic values in this quarte
For the Quarter Ending September 2021
North America
During the third Quarter of 2021, Hydrobromic Acid market in the North American region experienced mixed sentiments. At the beginning of the quarter prices remained stable followed by the sufficient supplies of the feedstock and adequate inventories in the region. However, in the mid of the quarter, after the occurrence of climate calamity in US Gulf Coast (USGC) the values of Hydrobromic Acid shot up. Many manufacturers in the gulf coast of US were compelled to shut down their production facilities as a repercussion of Ida hurricane that made landfall at the August end. Consequently, effected the production activities during that period and hence, led to the spike in the prices of Hydrobromic Acid during the quarter.
Asia
In Asia, Hydrobromic Acid prices witnessed an exponential rise during the third quarter of 2021 backed by the spike in the values of feedstock and sturdy demand from the downstream industries. In China, a steep climb in the value of Hydrobromic Acid was observed backed by various factors including constraint availability of feedstock because of supply chain disruption backed by congestion on the several ports of China and due to the impact of Ida hurricane in USA. Additionally, the lower production rates followed by power outages in China also sent ripples to the prices of Hydrobromic Acid. Similarly, in India Hydrobromic Acid market sentiments remained firm throughout the quarter due to the sturdy demand from the downstream sectors. In addition, high freight charges and shortages of shipping container further influenced the prices of Hydrobromic acid in the region. Ex-Depot Mumbai, Hydrobromic Acid (48%) prices settled at USD 1921.51 per MT in September.
Europe
In Q3 2021, Hydrobromic Acid market witnessed an upward rally during the third quarter of 2021 backed by the sturdy demand from the domestic as well as the overseas market. In addition, lower production rates due to the natural gas crisis also sent ripples to the prices of Hydrobromic Acid in the region. Moreover, exorbitant freight costs and the limited availability of shipping containers also contributed to the inflation in the prices of Hydrobromic acid during this quarter. The demand for Hydrobromic Acid from the downstream pharmaceuticals and other industries continued to be firm throughout the quarter across Europe during Q3 2021.
For the Quarter Ending June 2021
North America
Hydrobromic Acid demand remained effectively stable throughout the quarter in North America, supported by significant offtakes from the downstream sectors. Despite of the stable-to-firm demand from the consuming sectors in USA, price fluctuations remained fairly low and the overall price trend maintained stability during this period. On the other hand, feedstock Bromine prices were firm due to limited availability in USA. Demand stability in Hydrobromic Acid has also been translated into stable pricing in the region. In addition, a significant number of cargoes were exported from the US to India, majorly to inorganic salt manufacturers during this quarter.
Asia
The Asian market witnessed stable demand for Hydrobromic Acid, during this quarter, backed by improved economic activities and booming pharmaceutical sectors. In China, demand remained modest to high from the downstream pharma and inorganic salt manufacturers. While in India, despite of the dented demand from the downstream organic salt manufacturers as an effect of the second wave of pandemic in the country, imports remained voluminous. In addition, around 1307 MT of Hydrobromic Acid was imported by India during this quarter, where most of the cargoes were received from the Middle Eastern countries.
Europe
Hydrobromic Acid demand remained stable to firm in Europe during this quarter, backed by recovering economies post the pandemic. On the demand side, pharmaceutical sector remained the centre of overall demand for Hydrobromic Acid across the region, followed by organic and inorganic salt manufacturers. In addition, flame retardant sector was also recovering in the meantime, though the demand was not effective enough to provide buoyancy to the prices. Therefore, the demand for Hydrobromic Acid remained stagnant throughout the quarter across Europe during Q2 2021.
For the Quarter Ending March 2021
North America
During Q1 2021, demand for Hydrobromic Acid remained in a narrow range as downstream industries effectively reduced their operations across the region. The reason behind this fall in production activity was low availability of raw materials followed by the aftereffects of the winter storm during February in the Gulf of USA. Meanwhile, the imports of feedstock Bromine from other countries remained low due to critical weather conditions.
Asia
In the Asian market, prices of Hydrobromic Acid fluctuated effectively with lower availability and demand from downstream industries. During this quarter, in the Indian market prices of feedstock Bromine generally surge due to low availability of Brine solution. With ease in winter conditions, February onwards prices showed stability in its value and started falling in March, when the inventories picked up adequate level. Similar scenario was observed with Chinese market where 1.65% rise in bromine prices led HBr prices to rise marginally, which finally settled down at USD 1910/MT during March 2021.
Europe
Europe witnessed feeble demand for Hydrobromic Acid, post sudden surge in COVID 19 cases which slowed down the industrial activities of the region. Amidst low demand and slow production rate, procurement of raw materials was also a big issue for traders, as the trading activities were curtailed by the unfavourable weather conditions. In addition, demand from Zinc Bromide sector was reduced as the European automotive industry followed slow recovery.
For the Quarter Ending December 2020
North America
In North America, US is a major manufacturer of the hydrobromic acid. Fluctuation in the prices of the brine solution in the US due to winter season, directly impacted the prices of Hydrobromic Acid across North America. Amidst increasing use of Hydrobromic Acid and bromide solution in medical industry an appreciable was witnessed in the quarter ending December 2020. And they do not have any alternate in the market thus consumers are forced to buy it at high price.
Asia
In Q4 of 2020 the market sentiments for Hydrobromic Acid remained mixed throughout the quarter amidst its stagnated demand and scarce availability. In October 2020, the demand of hydrobromic remained low due to the large number of stocks available. However, traders remained optimistic that the Asian Hydrobromic market will revive in the upcoming days due to cold weather. As per market expectations, the demand for hydrobromic acid from November 2020 to December 2020 witnessed upward trajectory due to less availability of brine solution which is a feedstock for hydrobromic acid. The CFR JNPT prices for Hydrobromic Acid for quarter ending December 2020 average at USD 1693.57 per MT.
Europe
Europe is amongst a major contributor in the Hydrobromic Acid industry following Asia Pacific and North America. In the European region, prices of Hydrobromic Acid increased slightly from the beginning of Q4 as the price of brine solution which is a feedstock in the Hydrobromic Acid were also high due to its scarce availability in the winter season. Since Hydrobromic acid is used in automotive industry too, which is already an established sector in Europe thus demand of Hydrobromic Acid is expected to gradually pick up the pace with revival in the economy.
