For the Quarter Ending December 2024
North America
In Q4 2024, the price of Nitrosylsulfuric Acid in North America experienced moderate fluctuations, primarily driven by the performance of key industries such as pharmaceuticals, textiles, and agrochemicals.
As the quarter progressed, demand from the pharmaceutical sector showed significant growth, particularly in the production of active pharmaceutical ingredients (APIs) for treatments such as oncology and dermatology. The expansion of biopharmaceutical manufacturing in the region and a strong pipeline of new drugs kept demand for high-value chemical intermediates, including Nitrosylsulfuric Acid, elevated. In addition, demand from the textile sector showed seasonal upticks, as manufacturers prepared for the winter and spring fashion seasons, thus fueling demand for chemicals used in textile processing.
The U.S. textile industry remained strong, supported by robust export growth to regions like Europe and Asia. Logistics challenges, including ongoing container shortages and rising freight costs, slightly impacted the supply chain but did not significantly disrupt availability, with most supply coming from domestic producers. The overall pricing trend in the region was upwards in November and December, driven by the combination of steady pharmaceutical demand and seasonal textile production.
APAC
In Q4 2024, the price of Nitrosylsulfuric Acid in the APAC region, particularly in India, saw a moderate upward trend, driven by sustained demand from key industries such as textiles, pharmaceuticals, and chemicals. The textile sector, despite facing challenges like fluctuating cotton prices and logistics disruptions, continued to show resilience, particularly due to strong export growth, which increased by 17.3% in September 2024. This buoyed the demand for Nitrosylsulfuric Acid, a key chemical used in textile processing, contributing to a 1.1% price increase in October. In November, the price surged by 3.2%, fueled by heightened demand from the pharmaceutical sector, which benefited from the growth in dermatology, oncology, and anti-cardiac drugs. The continued expansion of the pharmaceutical industry and increasing exports of active pharmaceutical ingredients (APIs) drove the demand for high-value intermediates like Nitrosylsulfuric Acid. While supply remained steady with stable imports and domestic production, logistical challenges and fluctuating freight rates had a minor impact on the availability of the chemical.
Europe
In Europe, the price of Nitrosylsulfuric Acid in Q4 2024 followed an upward trajectory, primarily driven by sustained demand from the pharmaceutical, textile, and coatings industries. The pharmaceutical sector, which has seen an uptick in investment, especially in the production of cancer treatments and dermatology medications, was a significant driver for the chemical. As Europe continues to be a key hub for pharmaceutical manufacturing, the steady demand for intermediates like Nitrosylsulfuric Acid remained firm throughout the quarter. The textile sector also saw stable demand, particularly from southern European countries, as production of winter apparel and preparation for spring collections increased. The European textile industry benefited from strong domestic demand and exports to North America and other markets. The demand for Nitrosylsulfuric Acid in textile production supported prices through a moderate increase in October and November. The coatings and agrochemical sectors also contributed to demand, with increased activity in the agricultural and automotive industries in Europe. Despite global logistical challenges, the supply chain remained relatively intact, with minimal disruptions noted. Freight rates, however, remained a concern, putting upward pressure on prices, especially in November and December as colder months increased transportation challenges.
For the Quarter Ending September 2024
North America
In Q3 2024, the Nitrosylsulfuric Acid prices remained relatively stable within a narrow range, influenced by various concurrent factors. The U.S. economy displayed mixed signals, with underlying resilience offset by persistent inflation worries and geopolitical instability. Supply conditions were driven by steady manufacturing output and shifting trade patterns.
The Producer Price Index (PPI) for manufacturing industries dipped slightly from 249.624 in Q2 to 248.383 in Q3, indicating modest cost savings for producers. Inventory replenishment after significant drawdowns earlier in the year supported economic recovery, with Q2 GDP growth reaching 3.0% and forecasted annual growth at 2.7%. Consumer activity and business investments, propelled by initiatives like the CHIPS Act, sustained demand, while inflation eased below 3.0% in July.
Nevertheless, ongoing geopolitical tensions, such as conflicts in Ukraine and the Middle East, alongside potential import tariffs, posed risks to supply chains and trade flows. Although the Fed’s planned interest rate cuts are expected to boost spending and growth, uncertainties in labor markets and trade policies could influence the supply outlook moving into 2025.
Asia
The third quarter of 2024 for Nitrosylsulfuric Acid in the APAC region saw a notable increase in prices, driven by various factors influencing the market dynamics. Robust industrial activity, growing demand in key sectors, and rising infrastructure developments played a significant role in pushing prices upwards. Despite a slowdown in certain segments, overall economic indicators remained positive, fueling demand for chemicals used in manufacturing and construction. Additionally, increased export orders in sectors like textiles further boosted the demand for Nitrosylsulfuric Acid. In India, the market experienced the most significant price changes, with prices steadily increasing throughout the quarter. Overall trends indicated a positive pricing environment, with seasonality and correlation in price changes showcasing a consistent upward trajectory. The quarter-ending price for Nitrosylsulfuric Acid Ex-Mumbai in India stood at USD 220/MT, reflecting a 6% increase from the first half of the quarter. No disruptions or plant shutdowns were reported during this period.
Europe
During Q3 2024, Nitrosylsulfuric Acid prices in Europe fluctuated within a narrow range, influenced by economic uncertainties linked to the ongoing conflict in West Asia and sluggish growth in both Europe and the U.S. Rising freight costs, container shortages, and logistical issues were prominent. Shipping giants such as MSC and CMA CGM raised FAK rates to as high as $6,500 per container, driven by space limitations and added operational fees. Delays due to Red Sea disruptions and Singapore port congestion further complicated the situation. Air freight rates from Northeast Asia to Europe also spiked, fueled by booming e-commerce and semiconductor demand, with spot rates rising 40% year-over-year. Despite efforts to expand capacity, the imbalance between outbound and return loads persisted. With rising geopolitical tensions and seasonal demand, freight market volatility is likely to extend into Q4. Economically, Europe experienced stagnation in Q3, as Germany’s industrial sector struggled with weak output, high energy costs, and falling exports, contributing to broader challenges across the eurozone.
For the Quarter Ending June 2024
North America
In Q2 2024, the US Nitrosylsulfuric Acid market experienced a volatile landscape across North America. Initially, prices showed a bullish trend driven by heightened purchasing needs in the downstream textile sector, spurred by shifting seasonal demands. However, this positive momentum was short-lived. As the quarter progressed, demand conditions deteriorated significantly.
The broader US chemical sector struggled with low production levels, particularly affecting the demand for intermediate products like Nitrosylsulfuric Acid. This was compounded by mounting uncertainties surrounding the upcoming presidential elections and rising interest rates, which dampened consumer sentiment and led to minimal procurement activities, which acted as a catalyst for the depreciation in the prices of Nitosylsulfuric Acid
Although production in the US remained positive, the growth was only marginal. This limited expansion translated into a stagnation in procurement activities, leaving the market with little to no improvement. Overall, despite an initial uptick, the second quarter ended with subdued market conditions, reflecting a broader trend of cautious consumption and restrained industrial activity.
APAC
In Q2 2024, the pricing environment for Nitrosylsulfuric Acid in the APAC region faced significant downward pressure due to several key factors. Despite unseasonal demand spikes and rising global freight charges, the market remained weak, driven by a well-supplied market and tepid demand. Furthermore, the drop in global crude oil prices added to the downward pressure on Nitrosylsulfuric Acid and other commodities.
Focusing on India, where the price changes were most pronounced, the market experienced a sharp decline. An oversupply situation, marked by high inventory levels and balanced supply, led to a notable -7% drop in prices from the previous quarter. Seasonal factors, such as the start of the monsoon season, further reduced demand, exacerbating the decline. Prices in the latter half of the quarter fell by -19% compared to the first half, reflecting ongoing bearish sentiment.
The market showed resilience in terms of supply chain stability, with no major plant shutdowns or disruptions reported. By the end of the quarter, Nitrosylsulfuric Acid was priced at USD 204/MT Ex-Mumbai, India, continuing the trend of decreasing prices driven by oversupply and subdued demand.
Europe
In Q2 2024, the European Nitrosylsulfuric Acid market grappled with a predominantly bearish trend. Persistent weak demand from downstream sectors, particularly in organic chemical manufacturing, continued to drag down prices. The sluggish demand environment compelled European suppliers to take measures to streamline their inventories of chemical intermediates, including Nitrosylsulfuric Acid. This strategic move led to an oversupply of the product in the market, with excess inventories circulating and boosting supply levels. As a result of this surplus, the market experienced increased competition, which further pressured prices downward. The heightened availability of Nitrosylsulfuric Acid, due to the larger inventory levels, was not met with a proportional increase in procurement activities. Chemical manufacturers, facing low demand across the board, displayed minimal interest in acquiring additional stock. The only factor offering some relief from the persistent downturn was seasonal demand shifts. At the start of the quarter, seasonal changes briefly spurred purchasing activities in the downstream textile industry. However, this temporary boost was insufficient to alter the overall market sentiment or significantly impact procurement levels for Nitrosylsulfuric Acid. Overall, the quarter ended with a market characterized by excess supply and low demand, creating a challenging environment for both producers and suppliers. This situation underscored the ongoing struggle within the European Nitrosylsulfuric Acid market to find balance amidst a backdrop of persistent price pressure and subdued industrial activity.
For the Quarter Ending March 2024
North America
The pricing dynamics for Nitrosylsulfuric Acid in North America during the first quarter of 2024 displayed fluctuations. Initially, prices experienced a downturn but later recovered around mid-quarter. Numerous factors contributed to this market movement within the USA.
Firstly, there was a moderate to low demand for Nitrosylsulfuric Acid, influenced by seasonal patterns such as the subdued activity during winter due to harsh weather conditions, particularly the Arctic blast. On the supply side, there was a mix of high and moderate to low levels of product availability. Some traders encountered supply disruptions due to internal factors, resulting in minor adjustments to prices.
However, most traders had sufficient product stocks. These fluctuations can be ascribed to the shifting equilibrium between supply and demand and broader market dynamics. With the transition from winter to summer anticipated to boost demand for Nitrosylsulfuric Acid alongside potential market shifts, prices saw a resurgence. In summary, the pricing scenario for Nitrosylsulfuric Acid in North America during Q1 2024 exhibited stability with intermittent fluctuations.
APAC
The pricing environment for Nitrosylsulfuric Acid in the APAC region during Q1 2024 has been fluctuating initially declining but increasing in the last month of the quarter. In India, which experienced the most significant price changes, the market trended downwards at the beginning of the quarter before rebounding slightly towards the end. Several factors influenced market prices in India during this period. Firstly, there was a moderate to low demand for Nitrosylsulfuric Acid, which can be attributed to seasonal factors such as winter dullness. Additionally, economic activities in the country declined, further impacting demand. On the supply side, there was a mix of high and moderate to low supplies of the product. Some traders experienced irregular supplies due to internal factors, leading to marginal price revisions. However, most traders had ample product availability. Looking at the overall trend, prices declined in December 2023 before increasing in January and then declining again in February. This fluctuation can be attributed to the changing balance between supply and demand and market dynamics. In terms of seasonality, the shift from winter to summer is expected to increase demand for Nitrosylsulfuric Acid in the coming months. This, coupled with potential market fluctuations, may lead to a rebound in prices. In conclusion, the pricing environment for Nitrosylsulfuric Acid in the APAC region during Q1 2024 can be characterized as stable with some fluctuations. While India experienced the most significant price changes, the overall trend was influenced by factors such as seasonal demand, economic activities, and supply chain dynamics. The latest quarter-ending price for Nitrosylsulfuric Acid in India was recorded at USD 245/MT Ex-Mumbai.
Europe
In the initial quarter of 2024, Nitrosylsulfuric Acid prices in Europe underwent notable fluctuations, with Germany experiencing the most pronounced effects. Throughout this period, there was a prevailing downward trend in Nitrosylsulfuric Acid pricing, marked by depreciation. These price drops can be attributed to several factors, including decreased demand from downstream industries like Chemical Synthesis and Petrochemicals. Germany, facing particularly challenging economic circumstances, encountered hurdles. Moreover, geopolitical tensions in the Middle East, disruptions in the supply chain, and transportation issues arising from Houthi attacks in the Red Sea further complicated market conditions and influenced dynamics. Analyzing the quarterly price shifts reveals a substantial decrease compared to the same period in the previous year. Specifically in Germany, the pricing dynamics were characterized by bearish sentiment, driven by abundant supply and subdued demand. However, as months progressed, prices continued to decline due to reduced consumption and economic deceleration. In summary, the Nitrosylsulfuric Acid market in Europe, especially in Germany, encountered pricing obstacles during the first quarter of 2024. The prevailing trend was negative, with prices decreasing due to diminished demand and economic uncertainties. Nevertheless, there were indications of stabilization towards the quarter's end.
