For the Quarter Ending December 2024
North America
In Q4 2024, the natural steatite market in North America experienced a 1.6% quarter-on-quarter price increase, reflecting mixed regional dynamics. While supply chains faced disruptions due to global freight cost escalations and logistical bottlenecks, stable mining operations and consistent imports supported the overall market balance. End-use sectors, including agriculture, construction, and personal care, continued to drive demand, contributing to the price resilience across the region.
In the United States, the quarter began with supply challenges stemming from shipping delays and increased freight costs, particularly from Asia. However, domestic mining activity and improved extraction technologies ensured a steady supply. Demand growth was observed in the paint, coatings, and paper industries, supported by robust agricultural activity and favorable growing conditions, leading to record corn and soybean yields. The construction sector showed modest expansion, with job growth and early signs of housing recovery, while the personal care sector reported strong seasonal demand, particularly through e-commerce.
By the end of the quarter, the price of natural steatite CFR Houston stood at USD 741/MT. Despite regulatory uncertainties in the personal care sector and varying activity levels in downstream industries, the market-maintained stability, underpinned by balanced supply and steady demand from key sectors.
Europe
In the fourth quarter of 2024, Natural Steatite prices in Europe showed a quarterly increase of 3.5%, driven by constrained supply and steady demand from key industries. The region faced ongoing challenges, including logistical disruptions, port congestion, and elevated energy costs, which added to operational pressures. While geopolitical tensions and shipping constraints affected global supply, consistent production from major exporters like China and India ensured no significant shortages. Demand remained stable across traditional applications, with growth observed in renewable energy systems and electric vehicle infrastructure offsetting weaknesses in other sectors. In the UK, the Natural Steatite market experienced tight supply conditions, exacerbated by reduced imports and rising spot rates on Asia-Europe trade routes. Energy costs further strained manufacturing, while geopolitical factors impacted shipping schedules. Demand patterns varied, with the automotive sector showing growth, supported by a 6.5% rise in vehicle sales, and commercial construction projects maintaining robust activity. However, residential construction slowed due to higher interest rates, and the personal care industry faced subdued consumer sentiment amid scrutiny over talc-related health concerns. By the end of the quarter, Natural Steatite prices in the UK stood at USD 442/MT CFR Immingham, reflecting a market adapting to both regional and global challenges.
APAC
In the fourth quarter of 2024, the Natural Steatite market in the APAC region experienced a mixed trajectory, with demand influenced by varied sectoral performance. Increased production and technological advancements in mining ensured a steady supply, supported by diversified global networks. However, rising regulatory compliance costs and logistical challenges, including elevated intra-Asia trade costs, impacted overall market dynamics. Demand remained strong in China, driven by robust construction activity and fiscal stimulus measures, while Southeast Asia saw consistent growth in industrial applications despite consumer price sensitivity. In Japan, the Natural Steatite market faced supply chain concerns due to stricter export controls from China and fluctuating shipping costs, though supply stabilized towards the quarter's end. Domestic production benefited from efficient logistics and consistent raw material availability, ensuring steady output for ceramics, refractories, and cosmetics. While ceramics and cosmetics demand held firm, industrial applications, particularly refractories, faced pressure due to inconsistent steel production. Vehicle sales declined, reflecting subdued activity in the automotive sector. Despite these challenges, Natural Steatite prices in Japan rose by 3.5% from the previous quarter, ending at USD 550/MT CFR Osaka. This price increase underscores the market's resilience and the sustained demand for steatite across diverse applications in the region.
For the Quarter Ending September 2024
North America
In the context of North America's Natural Steatite market in Q3 2024, prices experienced a notable uptrend driven by a confluence of factors. Supply stability, coupled with increased demand, played a pivotal role in shaping the pricing dynamics. The quarter witnessed steady supply chains and consistent production levels, bolstered by efficient inventory management practices. Demand surged across various sectors, with the construction industry and manufacturing showing resilience and growth. The fertilizer sector's expansion and positive trends in commercial construction projects further fueled demand for Natural Steatite. While global economic uncertainties persisted, the North American market remained robust, reflecting a bullish sentiment.
Transitioning to the USA, which saw the most significant price changes, the market exhibited a clear positive trend. Seasonal influences, such as hot and humid weather affecting mining operations, were complemented by increased demand from key industries.
The quarter saw a notable 2% price increase between the first and second half, culminating in a closing price of USD 756/MT Natural Steatite CFR Houston. Despite challenges like freight disruptions, the market managed to maintain an upward trajectory, showcasing a positive pricing environment.
APAC
In the third quarter of 2024, the Asia-Pacific region experienced a significant surge in Natural Steatite prices, indicative of a vibrant and fluctuating market landscape. This period was characterized by a confluence of factors contributing to the price increase. Supply-side limitations, primarily due to interruptions in mining activities coupled with unfavorable meteorological conditions, were pivotal in the escalation of prices. Simultaneously, a strong demand emanating from key industrial domains, notably construction and manufacturing, provided additional upward pressure on the pricing trajectory. In the midst of these developments, the region benefited from consistent intra-Asia shipping rates, which played a crucial role in curbing potential cost volatilities, thereby aiding in maintaining a degree of price stability. Japan, in particular, observed substantial price changes, marked by a 2% increase from the previous quarter. The market displayed a positive sentiment, navigating through economic challenges and seasonal variations. Notably, the price comparison between the first and second half of the quarter revealed a 2% uptick, indicating sustained growth momentum. The quarter-ending price of USD 536/MT of Natural Steatite CFR Osaka in Japan signifies a strengthening pricing environment, underscoring a bullish trend in the market.
Europe
In the third quarter of 2024, the European market experienced a notable increase in Natural Steatite prices, reflecting a positive pricing environment. This period saw several contributing factors that significantly influenced market dynamics. Among these were the supply challenges stemming from disruptions in African sources, which contrasted with a stable supply within Europe itself. Concurrently, demand levels remained robust, propelled by a revitalized construction sector and sustained growth within the automotive industry. Despite this, the market faced headwinds in the form of adverse weather conditions and prevailing economic uncertainties, which introduced challenges to demand across specific sectors. The United Kingdom, in particular, felt the most pronounced price fluctuations, attributed to an uptick in car production and exports, which in turn affected the demand for Natural Steatite. Over the quarter, a modest 1% change from the preceding quarter was recorded, suggesting slight volatility. More notably, a 2% price disparity was observed between the first and second halves of the quarter, indicative of a generally positive market trajectory. As the quarter came to a close, the price for Natural Steatite in the UK was quoted at USD 432/MT CFR Immingham, mirroring the broader trend of escalating prices across the region.
For the Quarter Ending June 2024
North America
In Q2 2024, the North American Natural Steatite market experienced a notable downturn, primarily driven by a confluence of economic and sector-specific factors. The quarter was marked by a significant reduction in industrial activity, high production costs, and supply chain complexities. Elevated borrowing rates and sluggish manufacturing outputs further amplified the adverse pricing environment.
Focusing on the USA, the Natural Steatite market saw the most pronounced price changes. The overall trend for the quarter was decidedly negative, influenced by diminishing manufacturing activity, particularly in the automotive and construction sectors. Seasonality also played a role, as the typically lower demand in spring months was further weakened by economic headwinds. Prices exhibited a downward trajectory, with the percentage change from the same quarter last year reflecting a significant decline. Compared to the previous quarter, prices dropped by 1%, indicating a persistent downward trend.
Concluding Q2 2024, the price of Natural Steatite CFR Houston in the USA stood at USD 761/MT. This quarter's pricing environment has been unequivocally negative, driven by a combination of operational disruptions, subdued demand, and broad economic challenges.
Europe
In Q2 2024, the Natural Steatite market in Europe experienced a notable decline in prices, influenced by a combination of economic, regulatory, and supply chain factors. The quarter was marked by persistent inflationary pressures, regulatory shifts, and fluctuating energy costs, all of which played pivotal roles in shaping the pricing landscape. The implementation of the EU Critical Raw Materials Act (CRMA) aimed to secure and diversify the supply of strategic raw materials, yet the market remained heavily reliant on imports, especially from China, Türkiye, and South Africa. Rising alloy surcharges due to increased nickel and molybdenum prices also factored into the overall market dynamics. Despite regulatory efforts and an interest rate cut by the European Central Bank intended to stabilize the market, these measures were insufficient to offset the broader downward trend.
In Germany, the Natural Steatite market experienced the most significant price changes. The quarter was characterized by a negative pricing environment, exacerbated by fluctuating energy prices and rising costs in CO2 emissions. The demand from vital sectors like automotive showed improvement, yet it was not enough to counterbalance the supply-side constraints and economic challenges. The seasonality effects and the correlation in price changes reflected a steady decline, with the percentage change from the previous quarter touching 1% on the negative scale. Disruptions such as Thyssenkrupp's production capacity reduction at its Duisburg site further strained the supply chain.
Conclusively, the quarter ended with Natural Steatite prices at USD 484/MT CFR Hamburg, underscoring a persistently negative pricing sentiment throughout the period. This downward trend highlighted the difficulty in achieving market equilibrium amid ongoing economic and regulatory challenges.
APAC
In Q2 2024, the APAC region witnessed a notable decline in Natural Steatite prices, driven by several influential factors. The market experienced a softening demand from key industries, exacerbated by seasonal fluctuations and significant supply chain disruptions. Noteworthy were the operational challenges faced by major producers, leading to intermittent plant shutdowns. The resulting supply excess further pressured prices downward. Additionally, the general economic downturn across the region dampened industrial activities, contributing to reduced consumption of Natural Steatite.
Focusing on Japan, which experienced the most significant price changes, the trend was markedly negative. The overall market sentiment was heavily impacted by persistent supply constraints and subdued demand from the automotive and construction sectors. The correlation in price changes reflects a consistent downward trajectory throughout the quarter, influenced by the broader economic malaise and specific industry downturns. The seasonality factor played a crucial role as well, with typically lower industrial output during this period further compounding the price decline.
Comparing the first and second quarters, there was a consistent decrease in prices with changes of 1% negatively, indicative of a sustained bearish market environment. The latest quarter-ending price for Natural Steatite CFR Osaka in Japan stood at USD 517/MT, underscoring the prevailing negative pricing sentiment. Overall, the pricing environment for Natural Steatite during this quarter has been decidedly negative, influenced by a confluence of diminished demand, supply chain disruptions, and broader economic challenges.
For the Quarter Ending March 2024
North America
The Natural Steatite market in the North America region experienced a mixed pricing environment in the first quarter of 2024. In the USA, which saw the maximum price changes, the market sentiment was mainly bearish. Supply of Natural Steatite remained high due to surplus inventory levels in domestic warehouses, driven by reduced trade activities and trade disruptions in the Red Sea caused by attacks from the Houthi Rebel group in Yemen. This led to increased freight costs and prompted mills to scale back their trading operations. Demand for the product was low, particularly in downstream industries such as Housing and Casting, which were affected by severe winter conditions. Harsh weather, winter holidays, and consumer concerns about rebel attacks further dampened order placements.
In January, Natural Steatite prices in the USA spot market rose due to decreased supply and strong downstream industry demand. Trade route disruptions and reduced manufacturing activity further limited availability. The US Metal market showed resilience in February 2024, defying economic uncertainties and high inflation. While automotive sales saw modest growth, construction spending declined, driven by factors such as winter dullness and low domestic and international demand. Additionally, inflationary pressures rose from 2.27% in January to 2.28% in February 2024, as reported by FRED.
Overall, the pricing environment for Natural Steatite in the North America region during the first quarter of 2024 can be characterized as bullish, with prices experiencing a slight incline due to stable demand and supply dynamics.
Asia-Pacific
In the first quarter of 2024, the pricing environment for Natural Steatite in the APAC region has been largely stable, with some fluctuations observed in specific countries. Overall, the market has faced challenges due to reduced demand and increased inventory levels. These factors have led to a bearish sentiment in the market. In Japan, Natural Steatite prices have witnessed a decline throughout the quarter. This can be attributed to a decrease in demand from downstream industries, particularly in the housing and casting sectors. Severe winter conditions have further dampened demand, resulting in minimal deals and a pessimistic market sentiment. The oversupply in domestic warehouses has also contributed to the downward price trend. The price changes in Japan are consistent with the overall trends observed in the APAC region. The market has been impacted by reduced trade activities and disruptions in the supply chain, including attacks in the Red Sea and the drought in the Panama Canal. These factors have led to increased freight costs and a decrease in export activity, further affecting prices. Looking at the quarter as a whole, Natural Steatite prices have remained relatively stable, with a slight decline compared to the previous quarter. Seasonality and reduced manufacturing activity during the winter months have contributed to the overall bearish sentiment in the market. In conclusion, the pricing environment for Natural Steatite in the APAC region, particularly in Japan, has been negative in the first quarter of 2024. Reduced demand, increased inventory levels, and trade disruptions have resulted in a decline in prices.
Europe
The European Natural Steatite market in Q1 2024 has experienced a mix of positive and negative trends. Overall, the market sentiment has been stable, with fluctuations in supply and demand driving price changes. Germany has seen the most significant price changes, with an increase in prices compared to the previous quarter. In January, Natural Steatite prices in Germany experienced a slight increase due to reduced supply and robust demand from downstream industries. Supply constraints arose from decreased manufacturing activity, exacerbated by disruptions in trade routes. Global environmental concerns also played a role in altering mining activity dynamics, impacting the supply chain landscape. Throughout February and into early April 2024, the German metal market showcased a mix of trends, influenced by economic factors both locally and globally. Trade disruptions caused by attacks from the Houthi Rebel group in the Red Sea have impacted export activities, leading to higher freight costs and scaled-back trading operations. Severe winter conditions in Germany have also contributed to a slowdown in demand from downstream industries such as housing and casting. Market shifts in March and early April were further impacted by factors such as declining steel prices in Europe, political changes, and fluctuating global scrap prices, creating market uncertainties. Despite these challenges, there is optimism in the market, with expectations of an increase in demand from sectors like cookware and housing. Price hikes are anticipated due to disruptions in the supply chain and a decrease in mining rates, indicating a lower supply of Natural Steatite.
