For the Quarter Ending September 2024
North America
Throughout Q3 2024, the Pyridine market in North America remained stable, with prices showing resilience amidst various influencing factors. The quarter was characterized by consistent pricing trends, with significant factors contributing to the market's stability. Supply levels were moderate to low, ensuring a balanced market environment. Demand, although moderate to low, exhibited signs of improvement as the quarter progressed, particularly from downstream industries. The stability in feedstock prices, logistical challenges, and seasonal maintenance activities played a crucial role in maintaining price equilibrium.
In the USA, where the most significant price changes were observed, the Pyridine market reflected overall trends seen in North America. The quarter saw a marginal percentage change from the previous quarter, indicating steady market conditions. Despite a 5% decrease from the same quarter last year, the market remained resilient. The comparison between the first and second half of the quarter showed no price variance, underscoring the consistent pricing environment.
The latest quarter-ending price of USD 3006/MT for Pyridine FOB Louisiana in the USA signifies a stable pricing landscape, highlighting a neutral sentiment in the market.
APAC
Throughout Q3 2024, the Pyridine market in the APAC region experienced a notable trend of increasing prices. This quarter has been characterized by a combination of factors that have influenced market prices. One significant factor contributing to the price surge is the stable demand from downstream sectors such as pharmaceuticals and agrochemicals, which has led to a tightening of supply-demand dynamics. Additionally, the stability in feedstock costs, particularly Formaldehyde and Ammonia, has provided a strong cost support for Pyridine production, further pushing prices upwards. The market has also seen improved trading activities and increased buying interest, driving prices higher. Within China specifically, the market has witnessed the most significant price changes in the region. The overall trend in China reflects the broader APAC region, with prices steadily increasing. Seasonality and correlation in price changes have been evident, with a 1% increase from the same quarter last year and a 2% increase from the previous quarter in 2024. The comparison between the first and second half of the quarter shows a 1% price increase, indicating a consistent upward trajectory. As Q3 2024 draws to a close, the latest quarter-ending price for Pyridine FOB Qingdao in China stands at USD 3060/MT, reflecting the positive and increasing pricing environment that has characterized the quarter.
Europe
In Q3 2024, Pyridine prices declined due to decreased feedstock prices of Formaldehyde and Ammonia. This trend reflects the current market dynamics, where both supply and demand factors play a role. The demand for Pyridine remained stable, driven by its use as a precursor in the agrochemical and pharmaceutical industries. The consistent yet cautious demand from these downstream sectors contributed to the overall market stability. The supply chain faced minimal disruptions, with ample inventory levels and steady upstream cost support from feedstocks. This helped maintain a balanced supply-demand dynamic. There was an increased focus on sustainable practices and environmentally friendly solutions, which influenced the market dynamics. Pyridine’s role in green chemistry initiatives, such as solvent replacement and cleaner manufacturing processes, positioned it as a contributor to addressing environmental concerns. The market is expected to continue its steady growth, supported by ongoing demand from the agrochemical and pharmaceutical sectors and the focus on sustainable practices.
For the Quarter Ending June 2024
North America
In Q2 2024, the Pyridine market in North America experienced a generally stable pricing environment. Despite various market pressures, prices remained relatively constant, primarily influenced by balanced supply-demand dynamics and moderate cost support from feedstock markets. The quarter was characterized by an equilibrium between new production capacities and cautious procurement by major buyers, ensuring that the market did not face significant price volatility. Additionally, the resolution of previous production concerns and the adequate availability of inventories contributed to this stability.
Focusing on the USA, the Pyridine market saw notable price trends influenced by both demand and supply-side factors. A key driver was the consistent yet cautious demand from downstream sectors, particularly the Agrochemical and Pharmaceutical industries. The overall trend revealed a seasonality effect, with increased buying activities towards the latter part of the quarter, driven by strategic procurement ahead of the agricultural season. However, this did not significantly alter the price dynamics, maintaining a steady market environment. The price changes in Q2 2024, compared to the same period last year, showed a -13% decrease, reflecting a previous period of higher volatility and demand fluctuations.
From the previous quarter in 2024, the price change recorded at 0%, indicating a plateau in price movement due to balanced market fundamentals. Similarly, the price comparison between the first and second half of the quarter noted a 0% change, reinforcing the stable nature of the market. This stable pricing environment suggests a consistent and cautiously optimistic market sentiment, underscored by steady demand and strategic market operations.
APAC
In Q2 2024, the Pyridine market in the APAC region witnessed remarkable stability. This consistency in pricing was primarily influenced by a balanced supply-demand dynamic, ample inventory levels, and steady upstream cost support from feedstocks such as Ammonia and Formaldehyde. Market participants maintained a cautious yet stable approach, with a subdued buying interest and minimal fluctuations in trading activities. The overall sentiment was characterized by a lack of significant disruptions, contributing to a stable pricing environment across the region. Focusing on South Korea, the country exhibited the most noticeable price changes within the APAC region, yet these changes were marginal. The overall trend in South Korea was notably stable, underpinned by consistent purchasing activities and adequate supply levels. Seasonal variations had a muted impact, and the correlation of price changes remained minimal. Notably, the price of Pyridine in South Korea remained unchanged from the previous quarter, reflecting a 0% change, and exhibited a slight decrease of 5% compared to the same quarter last year. In the first and second halves of the quarter, the prices remained consistent, with a 0% change, underscoring the stability throughout Q2. The quarter concluded with Pyridine priced at USD 3070/MT CFR Busan, reflecting a stable pricing environment. Overall, the market conditions in South Korea indicated a neutral to stable outlook, characterized by minimal volatility and steady demand fundamentals. This stability suggests a cautiously optimistic yet balanced market sentiment for Pyridine in the region.
Europe
In the second quarter of 2024, the Pyridine market in Europe experienced a period of moderate growth, driven by several key factors. The demand for Pyridine, a versatile chemical used in pharmaceuticals, agrochemicals, and other industries, remained steady. However, the market faced challenges due to fluctuating raw material costs and geopolitical tensions, which impacted supply chains. One of the significant trends observed was the increasing focus on sustainable practices and environmentally friendly solutions. This shift was driven by stringent regulations and growing consumer awareness about environmental issues. As a result, many companies in the Pyridine market invested in green chemistry initiatives and cleaner manufacturing processes. The pharmaceutical industry continued to be a major driver of Pyridine demand, with its use in the synthesis of various drugs and active pharmaceutical ingredients. Additionally, the agrochemical sector saw a steady demand for Pyridine-based products, particularly herbicides and pesticides.
Despite these positive trends, the market faced some headwinds. Economic uncertainties and subdued growth in certain European economies affected overall market sentiment. However, improvements in the broader economy and the alleviation of supply chain concerns are expected to support a rebound in demand in the latter half of 2024.Overall, the Pyridine market in Europe in Q2 2024 was characterized by a balance of opportunities and challenges. Companies that prioritized innovation, sustainability, and efficient supply chain management were better positioned to navigate the evolving market landscape.
For the Quarter Ending March 2024
North America
During the first quarter of 2024, the Pyridine market in North America experienced various factors that had an impact on prices and market conditions. The market witnessed a bearish trend primarily due to weak demand from downstream industries, resulting in a decrease in prices. Moreover, there was a high supply of Pyridine in the region, which further contributed to the downward pressure on prices. The market fundamentals remained sluggish with limited trading.
The overall bearish trend and high supply levels affected prices in the US market. Additionally, the declining demand in the agrochemical sector posed challenges and further impacted Pyridine prices.
In terms of price analysis for the US market in the first quarter of 2024, the trend continued to be bearish with a downward movement in prices. There were no significant changes in prices compared to the same quarter of the previous year. The quarter-ending price for Pyridine FOB Louisiana in the US stood at USD 3018/MT. It is noteworthy that no plant shutdowns were reported during this quarter, providing stability to the Pyridine market.
APAC
In the APAC region, Pyridine is experiencing a mixed price trend, reflecting the complex market dynamics in the region. Despite this, the demand for Pyridine remains moderate, driven primarily by its use in the Agrochemicals and Pharmaceutical sectors. In the agrochemicals sector, Pyridine is a key ingredient in the production of pesticides, herbicides, and fungicides, which are crucial for maintaining crop health and ensuring food security. The moderate demand in this sector is indicative of stable agricultural practices and the need for effective crop protection solutions. Similarly, in the pharmaceutical sector, Pyridine plays a vital role as a building block in the synthesis of various drugs. The moderate demand from this sector reflects ongoing pharmaceutical developments and the importance of Pyridine in drug manufacturing. Supply of Pyridine in the APAC region is also moderate, indicating a balanced market where supply meets demand. This equilibrium is essential for ensuring stable prices and uninterrupted supply to downstream industries. Overall, the Pyridine market in the APAC region is characterized by moderate demand, balanced supply, and a mixed-price trend, reflecting the diverse applications and importance of Pyridine in key industries in the region.
Europe
In the European market, Pyridine has experienced a price decline, attributed to decreased feedstock prices of Formaldehyde and Ammonia. This trend reflects the current market dynamics, where both supply and demand factors play a role. The downstream sectors of agrochemicals and pharmaceuticals, which heavily rely on Pyridine, are experiencing low demand. This could be due to various factors, including market conditions, regulatory changes, or shifts in consumer preferences. Additionally, Middle Eastern producers have been fulfilling existing contracts and have not expressed interest in offering spot Ammonia on the German market. Despite the low demand, the supply of Pyridine in Europe remains moderate. This indicates that suppliers can meet the current market demand, leading to a balanced market situation. Overall, the decline in Pyridine prices in Europe is influenced by the interplay of various factors, including feedstock costs, demand from downstream sectors, and supply levels. Stakeholders in the Pyridine market should monitor these factors closely to adapt their strategies and stay competitive in the evolving market landscape.
For the Quarter Ending December 2023
North America
In the fourth quarter of 2023, Pyridine exerted downward pressure on spot prices, particularly in domestic markets, despite the sluggish support from the upstream Ammonia and Coal market. The Pyridine market experienced a gradual decline in pricing, resulting in sluggish market fundamentals. Abundant supply compelled manufacturers to impose lower output limitations, adversely affecting the operating rates of manufacturing units.
The export of Pyridine from the USA to South Korea and India witnessed a significant decline, reflecting the bearish market conditions characterized by limited trading activities both domestically and internationally. The downstream Agrochemical business has been mainly restrained due to a lack of purchasing appetite and declining interest in Pyridine.
The end user industry meticulously worked on their plant in accordance with the criteria of the purchasers. Pyridine’s demand was also modest in the worldwide market, with a lack of interest and acceptable supply levels. In the USA, the price of Pyridine declined to USD 3000/ton FOB Louisiana during Dec 2023.
APAC region
The price of Pyridine in China remains feeble due to a sufficient supply of products from the regional market. Tepid market sentiments along with a healthy production rate among the enterprises resulted in a stockpiling of products. In terms of feedstock market, Ammonia and Formaldehyde market also remains sluggish along with limited trades and slow purchasing activities. The demand for Pyridine from the downstream market remains weak, which provided feeble support to the price trend. Pyridine readily available and local stocks are still sufficient in the vicinity. Prominent manufacturers operated their operations at reduced capacities to prevent further stockpiling and alleviate the strain caused by elevated production expenses. Pyridine exports from China to other Asian markets were likewise discouraged, and providers gave present buyers discounts on their purchases. In China, the price of Pyridine declined by USD 3060/ton FOB Qingdao. The Pyridine market traded weak with flat market fundamentals amid growing supply pressure and weaker demand for downstream applications. With a lack of premium Pyridine prices in China, suppliers appear to have diverted some of their cargos to the overseas market.
Europe
In Q4 2023, the prices of Pyridine in Europe remained lower end with sluggish demand and bearish downstream market. Some Pyridine producers had considered weak surcharges in consider to low energy cost as well as the cost and lack of interest purchases. Weak Pyridine market due to adequate material availability faced significant pushback from the buyers. Suppliers first quit providing Dec lows, citing their easing stock pressure following aggressive sales. Shortly after, sluggish costs and thin margins on the producers’ side paved the way for a failure in rebound recovery in the trade market. High stocks and enough supply in the region have kept prices from rising any more. In terms of cost support, certain manufacturers choose to lower their ex-factory quotations in order to avoid stockpiling. Currently, due to poor Pyridine futures, manufacturing businesses' facilities are being refurbished, resulting in lesser bids and cheaper pricing. This abrupt change in supply and demand dynamics resulted in weak market demand, resulting in a weak price trend.
For the Quarter Ending September 2023
North America
In Q3 2023, the market trading fundamentals in the US witnessed a bearish market trend as the suppliers remain reluctant to purchase the cargos in bulk due to adequate inventory level. In July 2023, the price of Pyridine in the US declined to USD 3180/ton FOB Louisiana. Pyridine prices in the region continue to be influenced by sluggish trade dynamics and lackluster market fundamentals. With a bearish feedstock coal market and low buying appetite, traders in the region are displaying less interest in bulk trading. New offers from a significant domestic, regional producer remain restricted, and market participants saw weaker pricing as the market's adequate supply and demand fundamentals remained unchanged. Pyridine exports from the United States (US) to the European and Asian markets were limited due to weak trading dynamics. Product oversupply occurred due to the manufacturing unit's brisk output rate and low operating costs. The demand for Pyridine from downstream Corrosion Inhibitors and dyes intermediates remains restricted, and the companies' ability to clear their stocks remains a major challenge. The Pyridine market in North America concluded on a lower note due to sluggish market offtakes and limited purchasing activities.
Asia Pacific
This quarter, the market fundamentals of Pyridine in the Asia-Pacific region witnessed a declining price trend in the wake of sluggish market purchases and high inventory level. The downtrend trading activity from Pharma and solvent industries declined because of stocking activities and more-than-anticipated supply among the significant manufacturing units. In terms of trade flows, the exports of Pyridine from China to India, Japan and Indonesia also traded weak and the trades were majorly on the immediate basis. After appropriate product accessibility and decreased offering for new stocks, Pyridine demand appears to have fallen. Significant manufacturers revised their product prices for the domestic market. Coal prices remain slow in the feedstock market, owing to a decline in production costs. Such costly design was accomplished due to low interest from the downstream industry and hindered supply/demand needs. The market fundamentals were influenced by decreased manufacturing costs and rising interest rates. Pyridine manufacturers have reduced their production pace in order to avoid increasing stockpiles.
Europe
In Q3 2023, the market fundamentals of Pyridine in the European market remain sluggish with the successive months in the wake of cautiously operating downstream ventures as per the end-user requirement and lull trading activities from Germany to other region. Muted trading activities and lack of firmer offers and bids capped the prices to fluctuate further. In terms of upstream market, coal market declined this quarter in the wake of adequate product availability and weak spot market discussions. Downstream Agrochemical and Pharma industries demand remains lackluster, and suppliers purchase the product on a need-to basis. This quarter, plenty of spot deals were concluded at lower prices tempered by tempting buyers back into the market with demand destruction. Regional producers also tried to balance the supply/demand fundamentals by operating their production units at a lower rate to avoid further stockpiles. The demand for Pyridine from the end-user market was suppressed with limited consumption from the end users. In the European market, prices yet have to fall even lower with limited orders from the overseas market.
For the Quarter Ending June 2023
North America
Q2 2023 had observed a declining market trend for the Pyridine prices amid lackluster demand fundamentals and sluggish purchases from the USA to the domestic and overseas market. North American Pyridine prices remained low this month due to gradual declines in demand and high inventories. Along with this, due to ample supply, the price trend for feedstock coal is still struggling to rebound. The slump in Pyridine prices was attributed to the use of existing inventories in the domestic market. A tepid coastal inventory situation in the USA dampened prospects of improving demand in Asian markets. United Kingdom and Belgium continue to import Pyridine from the USA at a slow pace, and market fundamentals stabilize on a weaker note. In June 2023, the price of Pyridine in the US declined to USD 3400/ton FOB Louisiana. The domestic production of Pyridine in the domestic market was at an average pace as the demand remained slightly slower in the domestic and international market. In addition, operational rates were efficient in the domestic market.
Asia Pacific
The price of Pyridine in Asia Pacific region remain uptrend with the uptick in the trading activities and increase in demand from the downstream ventures. Prices of Pyridine have increased in the Chinese market due to improved demand along with limited supplies in the market. As per the market participants, the labour day Holidays in May 2023 limited the trade activities in the domestic market and there was active procurement from the end-user industry. Although, feedstock coal prices have dropped but it had limited bearing over the prices of Pyridine. On the other side, demand from the downstream solvent, pharmaceutical (used as an intermediate product) has increased with inadequate availability have forces the manufacturer to raise their quotation for this quarter. In May 2023, the price of Pyridine in China surged to USD 3119/ton FOB Qingdao. Demand from the downstream agrochemical, dyes and solvent industry had increased which provided cost support to the Pyridine in the Asian market. Market participants reported a rise in queries from the end-user with the healthy demand for fresh stocks.
Europe
With the recession fears and uncertain economic factors, the price of Pyridine faced a declining price trajectory in Q2 2023.. The slump in Pyridine prices has been reinforced by several factors. Firstly, reduced feedstock coal tar prices have played a role in the overall market trend. Additionally, weakened freight charges and the availability of labour have exerted pressure on prices. Moreover, there has been a significant decrease in downstream demand for Agrochemical market, further contributing to weak cost support. Disruptions within the domestic market in Germany have been witnessed, leading to a notable disturbance in the supply chain, thereby influencing market sentiments and resulting in abundance of products. As a consequence of decreased demand from the downstream market, there has been a slump in Pyridine prices, which can be attributed to fluctuations in supply and the altering of the purchasing fundamentals among the end-users. Lackluster market sentiments and limited product consumption brought about such a declining cost pattern. Germany has seen the low offers this quarter because of demand disruption.
For the Quarter Ending March 2023
North America
In the first quarter of 2023, the Pyridine market exhibited a declining price trend in the US domestic market. Initially, the market sentiments were balanced amid stabilized supply and demand dynamics, and the market prices declined marginally in the region. In February and March, a considerable drop in offered quotations was registered due to gloomy demand and limited inquiries from the downstream pharmaceutical and agrochemical industries. The production capacity also plummeted in March, and manufacturing activities slumped due to tighter credit conditions. In the latter half of Q1, the demand outlook remained dampened amid growing fears of recession due to the collapse of two banks along with hiked interest rates by the central banks in the region. Thus, the overall market price of Pyridine FOB Louisiana steeled at USD 4200 at the end of Q1 2023.
APAC
Th Pyridine market in the Asia Pacific region observed mixed market sentiments in the first quarter of 2023. The market prices dropped significantly throughout Q1 in the Chinese domestic due to ample inventories of the product and weaker demand from the downstream solvents, rubber, and pesticides industries in the domestic and international markets. In the South Korean market, the prices initially plummeted amid limited downstream queries and imports of low-priced goods in the region. Eventually, due to stable supply and demand dynamics, the market sentiments stabilized in mid-Q1. However, in March, the prices plunged considerably amid built-up inventories and sluggish demand from the end-use industries in the region. Meanwhile, in the Indian domestic market, the market sentiments were stable and slight improvement was observed throughout Q1 amid better availability of the product and an increased pace of new orders. Consequently, the offered quotes for Pyridine Ex-Mumbai settled at INR 4254 per ton at the end of Q1 2023.
Europe
The Pyridine market in the European region observed mixed sentiments in the first quarter of 2023. The overall prices increased slightly in the first month of Q1 amid active inquiries from the downstream pharmaceutical and agrochemical industries and regular imports of the product in the region. In the second month, the market fundamentals stabilized, and the prices slipped down slightly amid sufficient inventories and moderate downstream demand from the consumer end. However, the pricing trend turned southwards in March owing to inflationary pressure and uncertainties regarding economic conditions as the central banks raised the interest rates, and thus, the demand outlook subdued in the region. Also, the manufacturing PMI dropped this month in the European region resulting in bearish market sentiments for Pyridine.
For the Quarter Ending December 2022
North America
Prices of Pyridine have witnessed a mixed sentiment in the USA market during the fourth quarter of 2022. During the first month, prices have gained upward momentum due to the limited inventory level and bullish demand from the downstream agrochemical and other competitive industries. Meanwhile, high inflationary pressure and volatile energy prices have the other factor for the price increase. However, during the last two months of the quarter, Pyridine prices dropped due to inactive inquiries from the domestic market. In addition, production rates remained weak due to stable consumption rates in the domestic market. The cost of production remained stable as energy prices dropped. Meanwhile, cheap imports from the Asian market amid a decline in freight charges have weighed down the prices of Pyridine. In addition, bearish demand, along with sufficient material availability, forces the manufacturers to revise their price quotations.
Asia- Pacific
Pyridine prices increased in China throughout the fourth quarter of 2022 due to the supply constraint, disrupted supply chains, and improved domestic demand. Overall tighter supplies and limited inventories led to the price increase in the Chinese market. In addition, domestic production rates have improved in the wake of improved buying sentiment. On the other hand, demand from the downstream agrochemical, dyes, and other competitive industries has improved marginally in the domestic market. Meanwhile, demand from the overseas market has also been stable, while inadequate material availability has forced the manufacturer to raise their price quotation. Although, during the final quarter, Pyridine prices gained stability due to stable inquiries from the domestic and international markets while sufficient inventory was available to cater to the overall domestic demand.
Europe
Pyridine prices have shown fluctuation in the European market during the fourth quarter of 2022. During the first half of Q4, Pyridine prices increased due to volatile energy prices and high inflation in the region. In terms of domestic production, operating rates remained under check as energy prices continued to climb higher. However, the threat of recession across Europe has dampened the demand from the downstream industries. Despite this, during mid and final of Q4, Pyridine prices have gained downward momentum due to the sufficient inventory level and subdued demand dynamics. The sharp decline in the freight cost has resulted in better availability of the imported material in the regional market. Furthermore, energy prices have stabilized, which softened the domestic production cost.
For the Quarter Ending September 2022
North America
Pyridine prices showcased slight fluctuation in the USA market during the third quarter of 2022. During July, prices showed stability with a marginal rise of around 0.4% on the back of weak to stable inquiries from the downstream agrochemical and construction sectors. The domestic cost of production was operating at limited capacities to maintain supply-demand equilibrium. However, during September, Pyridine prices dropped marginally due to the feedstock's weak cost pressure and bearish demand from the downstream industries. Meanwhile, supply dynamics were under pressure as the key exporting hub of Houston witnessed port congestion that reduced the material available in the international market. Although, weak demand from the overseas market resulted in the limited impact of restricted supply on the overall prices of Pyridine. Despite this, prices slightly rebound during September amid improving demand from the domestic market. During September, the price of Pyridine was assessed at USD 8125/MT on a FOB basis.
Asia- Pacific
Prices of Pyridine showed a mixed trend in the Asia Pacific region during the third quarter of 2022. During the initial Q3, prices dropped slightly, backed by the sufficient inventory level and stable to weak demand from the downstream industries. Also, China's manufacturing activity experienced a sharp decline during July. Although, during the mid and end of Q3, prices were raised marginally, backed by stable to weak demand from the downstream pharmaceutical, agrochemical, and allied industries. In addition, China's battle with Covid as the market activities remained under constant threat of covid related disruptions. Furthermore, Port activities were also halted due to the rise in covid cases, which led to the limited material available. As a result, prices of Pyridine FOB Shanghai were assessed at USD 6490/MT during September 2022.
Europe
Pyridine prices witnessed a slight fluctuation in the European market during the third quarter of 2022. During July, prices showed a marginal inclination of around 1.0%. High inflation, turmoil in energy prices, and bullish feedstock prices have contributed to the price increase. However, during August and September, prices declined, backed by the high inflow of cheap imports from Asian countries like Malaysia, China, Singapore, and others. Meanwhile, in Europe, domestic production remained under pressure amid the high cost of production as the energy prices drive the operating costs. Although, there is weak demand from the downstream agrochemical and dyes industries. Furthermore, the supply chain remained under pressure as Europe faced upheaval from port congestions and labor strikes. As a result, Pyridine prices dropped by 4.5% during September 2022.
For the Quarter Ending June 2022
North America
The market sentiments for Pyridine in the North American region have remained stagnant during the Second quarter of 2022. In addition, the steadiness in the market occurred due to market dullness in the region. Furthermore, the primary reason for the stable prices was the volatility in the upstream crude oil value, which directly influenced the cost of feedstock Crude coal tar. Furthermore, amidst the Russia and Ukraine war and pandemic restriction in China, local manufacturers have been facing a frenzy supply to cater to domestic demand. These facets have proportionally affected the prices of Pyridine across the regional market. Overall, demand from the downstream Agrochemical sector has remained stable to weak in the regional market.
Asia- pacific
Pyridine prices showed positive market sentiments in the Asia-Pacific region during Q2 2022. Prices turned firm due to the upstream crude coal tar's appreciable rise in the supply crisis. On the other hand, demand for Pyridine in the downstream sectors remained strong since it has been utilized as the solvent in the pharmaceutical and agrochemical sectors. Furthermore, the Covid break and shutdown in several cities of China have negatively affected industrial and trading activities. Subsequently, shortage of raw materials and port congestion has the other facets of the price surge in the Chinese market.
Europe
During the quarter ending June, Pyridine prices in Europe showcased an upward trajectory backed by the upsurge in demand across the regional market. In addition, the shoot-up in upstream Crude oil value has proportionated the raw material Crude coal tar, which further affected the prices of Pyridine. Besides, many downstream industries have been attempting to maintain balance; hence, Europe's downstream market dynamics have been resilient. However, supply fundamentals continued to be imbalanced as domestic production has cut its operating rates amidst high energy costs in the European region. At the same time, import prices of the material have continued to rise due to solid demand in Agrochemical industries in the regional market coupled with a high freight charge which further triggered the price of Pyridine to follow an uptrend across the regional market.
For the Quarter Ending March 2022
North America
Pyridine showed an upward trend in the United States during Q1 2022 owing to the product's limited availability in the region. High upstream values in the global market amidst the Russia-Ukraine crisis; has further weighed up its prices amidst the firm demand pattern. Thus, the high cost of Pyridine in the region has been due to supply shortage and increased demand from pharmaceuticals as intermediate. The price of Pyridine FOB Ohio (USA) was assessed at USD 7975/MT, while the prices of Pyridine FOB Louisiana (USA) settled at USD 8120/ MT during March 2022.
Asia Pacific
Pyridine prices increased in the Asia-Pacific region during the first quarter of 2022. Due to rising production costs and skyrocketed upstream prices on the back of geopolitical tension. Demand from the downstream industries, on the other hand, remained firm as pyridine is used as an intermediate in the pharmaceutical industries, which is never a dull market. In China, Pyridine prices have increased due to low production activities and operational rates on the back of the Chinese New Year. Pyridine Ex- Mumbai (Bulk) prices were assessed at USD 3137 /MT, while FOB Shanghai (China) were evaluated at USD 4940/MT during March 2022.
Europe
Pyridine witnessed a positive market sentiment in Europe during Q1 2022 showcasing a rise by nearly 3% in its prices. Prices remained on uptrend on the back of crippled availability of the product in the region. Upstream prices surged due to the Russian invasion of Ukraine, and prices rose as the market revived due to increased demand. Supply shortage and growing demand from the downstream pharmaceutical industry as an intermediate resulted in continuous rise in the prices of Pyridine in the region. Furthermore, increased freight charges due to container shortage disrupted supply chains leading to a supply deficit region.
For the Quarter Ending December 2021
North America
Despite global trade difficulties, pyridine pricing in the North American market remained stable, and prices grew considerably during the quarter. Because to the government's new energy regulations, there has been some disruption in production activities in the United States. Furthermore, end-user demand for Pyridine in the United States remained stable to firm, with dealers seeking to keep enough supplies on hand to meet overall demand. CFR Texas prices in the United States were last assessed at USD 4385/MT in this quarter.
APAC
The demand for pyridine as an intermediary in the manufacture of pharmaceuticals has remained robust throughout the quarter, owing to a continuous increase in the number of cases of the worldwide pandemic in India. Furthermore, traders were concerned about freight charges, which had increased by a large amount compared to pre-pandemic levels. Pyridine prices soared this quarter, closing at roughly INR 269600/MT ex-Mumbai.
Europe
The European market remained balanced in Q4 2021, with supply improving with the restart of a large upstream plant after a lengthy shutdown. However, certain restrictions were observed as market sentiments were impacted by lower imports from the United States, which were hampered by high shipping freight prices and severe weather conditions. Demand from downstream industries such as pharmaceuticals, adhesives, and rubber industries soared in response to the supply deficit, resulting in increased offtakes.
For the Quarter Ending September 2021
North America
The pricing trend of Pyridine remained stable across the North American region during the 3rd quarter of 2021. The demand for Pyridine from the downstream agriculture industry was low in Q3 whereas demand for Pyridine derivatives such as beta picoline remained stable in the US market. In terms of supply, offtakes of Pyridine were ample to cater to the market demand. High freight costs and low availability of raw materials have further exacerbated the market outlook of Pyridine across the region.
Asia Pacific
During the third quarter of 2021, the overall market outlook demonstrated a marginal increment in the prices of Pyridine across the Asia Pacific region. The price of Pyridine kept its previous price trend continued in July, as the previous market fundamentals remained persistent. Demand from the domestic and international pharmaceuticals sector fluctuated between stable to firm range, while trading activities were running disturbed in Q3. Pyridine prices rose significantly and escalated from USD 3374/MT to USD 3493/MT from July to September.
Europe
The international logistics situation remained challenging and shipping delays affected Pyridine supplies in Q3 2021. The logistics issues concerning container movement and vessel availability resulted in higher freight costs and longer delivery timelines. Overall demand from the downstream sectors remained strong throughout the quarter. Regional demand continued to improve in Q3 from the Pharmaceutical & Agrochemical end product customers in Europe. However, higher production costs continued to disrupt the production levels towards the end of Q3.
For the Quarter Ending June 2021
North America
During the second quarter of 2021, supply in the North American region improved in comparison to the previous quarter as the industrial activities resumed after a prolonged turnaround. However, some constraint in the supplies remained as suppliers were focused to clear the backlog orders that were piled up since Q1 2021. Demand outlook surged throughout the quarter as the offtakes remained consistent from the solvent industries. As a ripple effect of exceptional demand outlook in the second quarter, prices of Pyridine remained buoyed throughout the second quarter with prices in June reaching USD 6850 per tonne at FOB Ohio.
Asia Pacific
In the Asia Pacific region, supplies remained balanced in the second half of Q2 2021. Offtakes were sluggish as the industrial activities were subdued in India amidst the rising COVID cases. Hence buyers from the downstream manufacturing industries were reluctant to procure in bulk due to the hovering uncertainties. Jubilant life science exported 161 tonnes of Pyridine and salts derivatives in the second quarter. Offtakes remained consistent from the pharmaceutical industry in the regional market, however due to the reduced demand, pricing trend stabilize in India with Ex-Work Mumbai pries in June being assessed at USD 3207 per tonne.
Europe
Overall, the supplies outlook in the European region remains tight in the second quarter of 2021, as several manufacturers were still struggling to improve the production rate due to lack availability of raw material. Besides, due to the Suez Canal blockage the shipment from the Asia Pacific region delayed by a week. Demand bolstered from the downstream solvent industries as the enquiries from the end-use of rubber and adhesives industries improved. As a ripple effect the prices of Pyridine in the European region surged throughout the quarter.
For the Quarter Ending March 2021
North America
US Pyridine market witnessed supply constraints during the first quarter of 2021, due to the tightness in upstream market and unavailability of feedstock, as the region was hard hit by freezing weather conditions in much of central America. Demand from the downstream sectors surged due to the supply shortages throughout the quarter, followed by the surge in enquiries from the pharmaceutical sector and adhesive building & construction sector. The demand-supply gap widened amid the strong competition among the buyers caused the multifold hike in the prices of Pyridine FOB Louisiana with prices settling at USD 6805 per tonne in March.
Asia-Pacific
Pyridine supplies in the Asia Pacific region market was balanced to tight during the first quarter of 2021. Major supplier plants in Middle East region were on a maintenance turnaround. Inventory levels further diminished following the limited production amid the Chinese Lunar New Year holidays. The hike in prices of key feedstocks proportionally supported the prices of Pyridine in Q1, April delivery prices were assessed at USD 3351/MT in India. Demand strengthened as the offtakes improved from the pharmaceutical sector, due to resurgence of COVID in several part of the region.
Europe
The European market remained balanced during the Q1 2021, as supplies improved with resumption of a major upstream plant after a prolonged period of turnaround. However, some constraints were witnessed as the market sentiments were impacted due to the declined imports from the US amid high shipping freights charges and bad weather conditions. Demand enquiries from the downstream sectors surged against the supply shortage, due to the rebound of automotive and construction sector and improved offtakes from the downstream segment such as pharmaceutical, adhesives and rubber industries.
For the Quarter Ending December 2020
North America
The supplies were hampered during the first half of fourth quarter, due to plants turnaround in gulf region amid the spate of hurricanes followed by several import constraints like low container availability. Although, the supply considerably improved during the second half of Q4, as several plants resumed production after weeks long force majeure. By quarter end, the demand witnessed a continuous uptick due to the surged demand from the pharmaceuticals sector.
Asia
The domestic consumption of Pyridine spiked in Asia, during the fourth quarter of 2020, following the buzz of new coronavirus across several parts in the region. As Pyridine is used as an intermediate for various APIs in pharmaceutical industry, the demand across the region witnessed an enormous surge, due to sturdy demand for medicines for boosting immunity as a preventive measure of new Coronavirus. Following the increase in export for Pyridine and its derivatives improved in India, significant domestic demand for Pyridine resulted in a two-fold spike in its price, where Pyridine prices settled at USD 3310.14 per ton in Q4 2020.
Europe
The resurgence of COVID in several countries across European region, led to an astonishing surge in API’s demand from the pharmaceutical sector. Despite of ample demand import constraints like container unavailability and essential manpower shortage implemented the supply in the region. Germany emerged as the largest importer of Pyridine and its derivatives in the European region in Q4 2020. Pyridine prices backed by the sturdy demand and import shortage witnessed a steep climb during Q4 2020.
