Sulphuric Acid Price Trend and Forecast
North America
In the Q4 of 2022, the Sulphuric
Acid Prices advanced in a plummeting direction, with the price being at
its lowest by the end of the quarter, as per ChemAnalyst Research Team Data.
The cost ranged at USD 260/ton FOB Linden NJ (USA) during October in the
domestic market region as per sourced by the traders and the suppliers. There
was a plunge in the downstream fertilizer industry, driving a good pullback
from the bulk Chemicals industry, which has been one of the sole reasons for
Sulphuric Acid prices to fall. This was
a modest decline in the prices that were noted by the market players. The
de-escalation in demand for the product from the fertilizers and dyestuff
industry affected the price of the product in the US domestic market. Market
experts perceive the American Sulphuric Acid industry as pessimistic, expecting
long-term growth rates to be lower than they have historically been.
Asia
The price of Sulphuric Acid
swiftly dropped since there was limited order support in the Asian market.
Firms that produce Sulphur steadily decreased their prices to stabilize the
supply of the feedstock and meet the available demand. The cost support was
badly impacted by the ongoing decrease in the price of crude oil. The product's
low-price trend in the local market was backed by poor demand, excess supply,
and declining spot prices abroad. The downstream fertilizer industry has
maintained consistent consumption levels, while the automobile and construction
sectors have kept volume intakes on the lower side. The prices have been
observed at USD 92/ton IR Grade FOB Qingdao during November in the fourth
quarter of 2022 as per ChemAnalyst Research Team Data in the Chinese market.
Europe
During the fourth quarter of
2022, the market value of Sulphuric Acid plunged in the fourth quarter of 2022
in the European market, with price ranging at USD 244/ton IR Grade FOB Hamburg
in November. The inventories of Sulphuric Acid were rising in the trader's and
the supplier's regular stock due to lower consumption in the regional market.
The factor driving down the pricing of the Sulphuric Acid business has been
investors' gloomy outlook for the automotive manufacturing sector in the
remainder of the quarter. A significant interruption in production was
furthered by a decrease in the Sulphur Prices
amid declining crude oil prices. The rate of Sulphuric Acid production has been
further reduced amid sluggish product demand.
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