For the Quarter Ending March 2024
North America
In Q1 2024, the pricing environment for Anhydrous Hydrofluoric Acid in North America was influenced by various factors. The market experienced a downward trend, with prices declining by 4.5% compared to the previous quarter. This decrease can be attributed to increased imports of cheaper goods from Mexico, which led to ample material availability and a decrease in new order growth. Additionally, manufacturers in exporting nations benefited from lower manufacturing costs due to decreased prices of upstream fluorite, resulting in increased profit margins.
In the United States, the pricing trend for Anhydrous Hydrofluoric Acid followed a similar pattern. Prices dropped by 4.5% in Q1 2024, reflecting the impact of imports from Mexico and decreased demand from the downstream industries. The market sentiment was bearish, with supply levels ranging from moderate to high. The demand for Anhydrous Hydrofluoric Acid in the USA was low to moderate, as customers focused on destocking and refrained from placing new orders. The pace of inquiries from downstream industries slowed down, and spot transactions decreased. The market operated at a slower pace, and trading activities were minimal.
Looking at the overall trend, it is evident that Q1 2024 was a challenging period for Anhydrous Hydrofluoric Acid pricing in the USA. The market was affected by factors such as imports, decreased demand, and destocking practices. However, it is important to note that these trends are consistent with the usual seasonality and fluctuations in the market. The quarter-ending price for Anhydrous Hydrofluoric Acid in the USA was USD 2470/MT, reflecting the downward pricing trend observed throughout the quarter.
APAC
The first quarter of 2024 has been challenging for Anhydrous Hydrofluoric Acid pricing in the APAC region, with significant price decreases observed. Various factors have influenced market prices, including weak demand from downstream industries, ample material availability, and low-cost support from upstream raw materials. The market sentiment has been negative, with prices showing a consistent decreasing trend.
China, in particular, has experienced the maximum price changes in Anhydrous Hydrofluoric Acid. The prices have decreased by 14% compared to the same quarter last year and by 17% from the previous quarter in 2024. Furthermore, there has been a 13% decrease in prices between the first and second half of the quarter. These price changes indicate a significant decline in market value during the quarter.
The latest quarter-ending price in China for Anhydrous Hydrofluoric Acid FOB Shenzhen is USD 1210 per metric ton. This reflects the overall negative pricing environment, with prices continuing to decline.
In summary, the first quarter of 2024 has seen decreasing prices for Anhydrous Hydrofluoric Acid in the APAC region, particularly in China. Weak demand, ample material availability, and low-cost support from upstream raw materials have contributed to the negative market sentiment. The prices have shown a consistent downward trend, with a significant decline compared to the same quarter last year and the previous quarter in 2024.
Europe
In the European market during Q1 2024, the pricing dynamics of Anhydrous Hydrofluoric Acid were significantly influenced by various factors mirroring those experienced in North America. Prices experienced a downturn, decreasing by 5% compared to the previous quarter, primarily due to heightened imports from Northwestern Europe, resulting in increased material availability and a slowdown in new order growth. This influx of cheaper imports prompted a decrease in pricing, while manufacturers in exporting countries benefitted from reduced manufacturing costs owing to lower prices of upstream fluorite, consequently enjoying widened profit margins. Similarly, within Europe, the pricing trend followed suit, declined during Q1 2024, driven by similar factors such as increased imports and reduced demand from downstream industries. Market sentiment leaned towards bearish, with supply ranging from moderate to high and demand remaining subdued as customers focused on destocking. Consequently, trading activities slowed down, and spot transactions decreased, resulting in a sluggish market pace. Despite the challenging conditions, these trends align with typical market fluctuations and seasonality. The quarter's closure witnessed Anhydrous Hydrofluoric Acid prices in Europe at EUR 2140/MT, reflecting the prevailing downward pricing trend observed throughout the quarter.
For the Quarter Ending December 2023
North America
The Anhydrous Hydrofluoric Acid market in North America during the fourth quarter of 2023 experienced a bullish trend, with prices increasing throughout the quarter. The market was influenced by several factors. Firstly, there was a decrease in imports of the product, leading to a reduction in supply. Additionally, increased production costs, driven by higher prices of upstream Fluorite, prompted manufacturers to raise their quotations.
The demand for Anhydrous Hydrofluoric Acid remained moderate to high, particularly from the refrigerant and other end-use industries. However, the inflow of new orders from the overseas consumer market declined. In the USA, which had the most significant price changes in the region, the price of Anhydrous Hydrofluoric Acid increased by 1.4% during the quarter. This price increase can be attributed to the aforementioned factors affecting the overall North American market.
The trend for Anhydrous Hydrofluoric Acid prices in the USA during the month of December was stable, with no significant seasonality or correlation observed. In comparison to the same quarter of the previous year, there was no change in prices. However, when comparing the current quarter to the previous quarter of 2023, there was no significant percentage change. The price for Anhydrous Hydrofluoric Acid in the USA at the end of the quarter was USD 2580/MT (DDP Houston).
APAC
In the fourth quarter of 2024, the Anhydrous Hydrofluoric Acid market in the APAC region demonstrated a mixed pricing trend. The market situation was bearish with high supply and low consumer demand. The cost support from the upstream fluorspar was stable in the first month, thus, positively impacting the market fundamentals. However, poor demand from downstream industries and unpredictable oil prices weighed on the profitability of specialty chemical companies in India. In China, prices decreased marginally due to weak demand from downstream industries, and eventually, the sellers had to adjust their offered quotations. The increased price of sulfuric acid also contributed to the fundamental backing of the hydrofluoric acid market. The prices of upstream Fluorite stabilized during the quarter, and the production costs remained unchanged. The trend, seasonality, and correlation price percentage of China showed a bearish market with a 2.2% increase in price during the quarter. The percentage change from the current to the previous quarter was 11%. The price percentage comparison of the first and second half of the quarter showed a 3% increase. The latest price of Anhydrous Hydrofluoric Acid FOB Shenzhen in China for the fourth quarter of 2023 was USD 1506/MT. Overall, weak demand and low production costs impacted the APAC Anhydrous Hydrofluoric Acid market during the second half of Q4 of 2023.
South America
In the fourth quarter of 2023, the Anhydrous Hydrofluoric acid market in South America demonstrated a mixed pricing trend throughout the period. In October, Anhydrous Hydrofluoric Acid prices in Brazil rose due to increased imports of higher-priced goods. Recent weeks have seen improving business conditions, with heightened product inquiries in downstream refrigerant and other industries. To counter excessive inflation, Brazil's central bank initiated an easing cycle last month, reducing the main interest rate to 13.25%. Domestic product inventories remained sufficient. In November, prices remained stable as market fundamentals saw no significant changes. Procurement remained low due to weak demand in the refrigerant sector, impacting both new orders and output. Despite higher interest rates and low prices affecting business confidence, purchases were demand-driven, and domestic inventories were moderate. In December, Anhydrous Hydrofluoric Acid prices marginally decreased due to imports of low-priced goods and reduced upstream fluorite costs. Despite stable demand from the refrigerant industry, overall GDP growth in Q3 remained poor amid higher interest rates. Responding to escalating prices, the central bank shifted its strategy, gradually lowering the interest rate given the current annual inflation rate of 4.82%. As of December 2023, the prices of Anhydrous Hydrofluoric Acid (CFR Santos Port) were assessed at USD 1564/MT.
For the Quarter Ending September 2023
North America
In the third quarter of 2023, the Anhydrous Hydrofluoric acid market in the USA exhibited mixed sentiment. Weakened consumer demand, exacerbated by political tensions between the USA and China, resulting in low imports in the domestic market and increased reliance on the other markets, was observed. The downstream refrigerant and other end-use industries faced reduced demand, with fewer consumer inquiries observed. In August and September, the Anhydrous Hydrofluoric acid market continued to suffer from poor demand conditions and the influx of low-priced goods, on the back of deteriorating consumer demand and ongoing USA-China tensions. Notably, the United States began importing more from other markets rather than China, reflecting changing trade dynamics. Consumer inquiries remained weak, particularly with the end of the high-demand summer season. Market transactions remained sluggish, and limited product procurement was observed overall in this period. Throughout this quarter, high inflation, higher interest rates, and ongoing geopolitical tensions with China also influenced the market sentiments in the region.
APAC
In the third quarter of 2023, the Anhydrous Hydrofluoric acid market in the Asia-Pacific region demonstrated mixed sentiments. In the first two months, the prices decreased slightly amid sluggish demand from the downstream refrigerant industry. Overall, the market outlook remained somewhat stable. Overall, the downstream refrigerant sectors' demand prognosis was strong, with stable offtakes recorded in the region. In terms of production, the cost support from the upstream fluorite market was found to be insufficient, resulting in lower manufacturing costs. Anhydrous Hydrofluoric Acid prices grew further in China's domestic market in September as support from the upstream fluorite market continued to affect the product's market dynamics. On the demand side, queries from the downstream refrigerant sector were consistent, while domestic producers had appropriate supplies of the product on hand in the home market. The trading environment was usual, and steady market transactions were recorded. As of September 2023, the prices of Anhydrous Hydrofluoric acid in China were assessed at USD 1418 per tonne.
South America
In the third quarter of 2023, the Anhydrous Hydrofluoric acid market in South America demonstrated bearish sentiments due to imports of low-priced goods, high inventories, and poor demand. Throughout this period, consumer demand from the downstream refrigerant industry was poor as, generally, the demand for the product is high in the summer season. Furthermore, higher interest rates and low prices continue to undermine company confidence. The commodity was mostly purchased on demand, and domestic inventory levels were minimal. As industrial demand remains weak and Chinese imports continue to enter the nation, Brazilian chemical production fell to a 17-year low from January to April. Although, in September, the prices improved slightly amid imports of high-priced goods in the region. Furthermore, to combat high inflation in South America's largest economy, the central bank initiated an easing cycle last month, lowering its main interest rate to 13.25% after holding it unchanged for more than a year. The manufacturers in the exporting nations increased the offered quotations amid higher raw material prices. As of September 2023, the prices of Anhydrous Hydrofluoric acid in Brazil were assessed at USD 1460 per tonne.
For the Quarter Ending June 2023
North America
Prices of Anhydrous Hydrofluoric acid showed a mixed trend in the second quarter of 2023. In the month of April, the price of Anhydrous hydrofluoric acid rose due to increased demand from the downstream refrigeration and refinery industries as the summer season approached. Cost support from Fluorspar also provided this bullish trend across the month as the United States imports Fluorspar majorly from China, which had a significant impact on the pricing of domestic hydrofluoric acid. In the months of May and June, the prices remained stable and showed a slight increase due to consumer electronics demand improvement. The supply remained stable and cheap imports from China supported to curb the price rise. As Inflation moderates in the US to 3 percent, consumer demand is improving while investors' sentiment is 'neutral' due to the expectation of another interest hike by the US Federal Reserve. The price of anhydrous hydrofluoric acid (AHF) in the United States is around USD 2100/MT. This is an increase of around 13% from the price in 2022.
APAC
Prices of Anhydrous hydrofluoric acid show a floating trend in the second quarter of 2023. In the month of April 2023, the prices of Anhydrous hydrofluoric acid increased by 5.5 percent in the Chinese market due to a positive cost push from the feedstock fluorspar and energy prices. The demand from the downstream refrigeration industries increased as the summer season approached. The supply remained stable, and an operational capacity of over 90 percent was utilized and increased to fulfill the demands of the domestic market. In the months of May and June, the prices of Anhydrous Hydrofluoric Acid showed a bearish trend in Asia due to a significant decline in feedstock and energy prices. Inquiries reveal high inventory stocks and moderation in the demand from downstream industries. In India, the price trend is bullish throughout the second quarter. The demand from downstream industries like refrigeration and low inventory stocks has been one of the crucial drivers of the price rise. Imports from the United States and China have significantly impacted the price of Anhydrous Hydrogen Fluoride in India. Prices of Anhydrous Hydrofluoric Acid FOB Shenzhen were settled at USD 1403/MT in the month of June 2023.
Europe
Prices of Anhydrous hydrofluoric acid show a floating trend in the second quarter of 2023. In the month of April, the price of anhydrous hydrofluoric acid rose because of positive cost support from the prices of feedstock fluorspar. The demand from downstream industries like refrigeration and low inventory stocks has been one of the crucial drivers of the price rise. Energy prices in Germany played a significant role in the price rise. In the months of May and June, prices of anhydrous hydrofluoric acid remained stable with a slight increase till the mid of June 2023 as the demand from downstream refrigeration and fluoropolymer industries remained bullish as the heatwave spread across Europe. Imports from US and China supplied the increasing demand and helped in moderating the price. By the end of June, we see price moderation and the beginning of a bearish trend in Europe because of a decrease in demand from the downstream industries and Europe's macroeconomic parameters showing a technical recession. Prices of Anhydrous Hydrofluoric in the month of June 2023 averaged USD 1600/MT.
For the Quarter Ending March 2023
North America
In the North American market, the overall prices of Anhydrous Hydrofluoric Acid showcased mixed market sentiments in the first quarter of 2023. The prices of the product rose in the first month of Q1 amid tighter monetary conditions and volatile energy materials costs, whereas the supply and demand dynamics were balanced. In February, the market prices gained downward momentum as the inflationary pressure impacted consumer sentiments; thus, limited purchases were reported. In March, the overall prices declined further amid limited procurement from the downstream cleaning and oil refining industries and weaker cost support from the upstream Fluorite in the region.
APAC
The market prices of Anhydrous Hydrofluoric acid exhibited a bearish pricing trend in the Chinese domestic region throughout the first quarter of 2023. In January, the offers plunged considerably owing to adequate supply and a drop in the downstream inquiries. Also, the cost support from the feedstock Fluorite and Sulphuric acid remained weak in this period. In February, the spot prices decreased in the Chinese market due to weak demand as the overseas market players slowed the procurement of the product. Whereas, in March, the market prices stabilized in the region amid a balanced supply and demand outlook in the downstream cleaning and oil refining industries. The demand outlook improved slightly, and production rates caught pace in this time frame. Thus, the offered quotes for Anhydrous Hydrofluoric Acid FOB Shenzhen settled at USD 1402 per tonne at the end of Q1 2023.
Europe
The overall pricing of Anhydrous Hydrofluoric Acid in the European market demonstrated mixed market sentiments in the first quarter of 2023. The product's prices increased in the first month of Q1 due to the lack of market competitiveness in the region as the Asian market activities remained at lower levels in this period. In February, market prices began to fall as inflationary pressures and uncertainties regarding economic conditions affected consumer sentiments, resulting in limited purchases. Overall prices fell further in March due to reduced procurement from the downstream cleaning and oil refining industries, as well as decreased cost support from the upstream Fluorite in the European region.
For the Quarter Ending December 2022
North America
Overall the Anhydrous Hydrofluoric Acid market in the North American region observed a considerable shift with constant uncertainties in the regional market during the fourth quarter of 2022. This development has primarily been attributed to the subdued demand from the downstream industries. Currently, the downstream refrigerant market went through a seasonal off-trend, and the discussions have remained suppressed at the spot market. Whereas offtakes from the EV manufacturing facilities have remained stagnant with a slight downshift. As a ripple effect, the CFR Houston discussions for Anhydrous Hydrofluoric Acid were assessed at USD 2012 per tonne during December 2022.
Asia Pacific
The Anhydrous Hydrofluoric Acid market in the Asia Pacific region has witnessed mixed sentiments in the fourth quarter of 2022. In the first half of the quarter, the offers have soared or improved based on the market dynamics of the subregions, even though the procurement practices were dropped by the start of the second half. This development has been majorly attributed to the slowdown of EV sales in China and the cautious approach by the downstream manufacturers. The procurement drive was higher during the first half till the sufficient inventory levels to sustain the production till the next upcoming quarters, which further coupled with the offseason trend of the refrigerant industry. Even though the cost support from the feedstock Fluorite and Sulphuric Acid was at higher levels, the manufacturers in China adjusted the operating rates at the manufacturing facilities to sustain the production netbacks. In response, the FOB-Shenzhen discussions for Anhydrous Hydrofluoric Acid were assessed at USD 1802 per tonne in December 2022.
Europe
The European market showcased mixed sentiments for Anhydrous Hydrofluoric Acid during the fourth quarter of 2022. This development has been majorly attributed to the rebound in the market activities post-summer holidays. Although, the supply outlook has been constrained after the majority of domestic players have reduced the rates to sustain the netbacks on the backdrop of high energy costs across the region. The inflation and hiked interest rates have severely impacted the cost of living, leading to a conservative buying streak amongst the consumer end. The looming demand outlook forced the market players to cautiously move ahead of new volume procurement in the second half of Q4 2022. As a ripple effect, the FD Genoa discussions for Anhydrous Hydrofluoric Acid were assessed at USD 2143 per tonne during the quarter ending December 2022.
For the Quarter Ending September 2022
North America
In the third quarter of 2022, the Anhydrous Hydrofluoric Acid market in the North American region witnessed a slightly bullish sentiment. The consistent inquiries from the downstream industries kept the sentiments slightly upward as the offtakes from the EV battery manufacturing facilities were consistent as the uncertainties regarding the hurricane-related supply chain disruption clouded the minds of the downstream participants. In response, participants were more inclined to restore the inventories to secure the essential feedstocks against any troubles caused by the hurricane. At the same time, the financial results of a major manufacturer of Anhydrous Hydrofluoric Acid in Mexico reassured the market trend as the profits generated by sales of Hydrofluoric Acid were up by 9% on a year-on-year basis. As a ripple effect, the DDP USGC discussions for the Anhydrous Hydrofluoric Acid were settled at USD 2243 per tonne during the quarter ending September 2022.
Asia Pacific
Overall sentiments for the Anhydrous Hydrofluoric Acid in the Asia Pacific region remained suppressed in the quarter ending September 2022. Several market experts initially expected that the market activities would rebound tremendously, but the inflation and uncertainties of the COVID curbs and the maintenance season limit the rebound. Whereas in the latter half of this quarter, power rationing in major provinces also impacted the overall development of the value chain. In addition, the demand remained lackluster due to the off-season of the refrigerant industry and modifications in the EV facilities in China. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid were assessed at USD 1510 per tonne in September 2022.
Europe
In the third quarter, the Anhydrous Hydrofluoric Acid market in the European region witnessed a consistent bearish sentiment. However, there has been a slight improvement in the last few weeks of this quarter. Market activities remained muted because the summer holidays in the Northwest European regions led to a significant dip in demand from the end-use sector, impacting the complete value chain. In response, the producers witnessed a considerable increase in contractual inquiries and curtailed the offers to compete in the overseas market. In September, the supply side saw significant pressure as the spot inquiries increased, besides delivering the contractual volumes. Thus, the FCA Antwerp discussions for Anhydrous Hydrofluoric Acid assessed at USD 2440 per tonne in September 2022.
For the Quarter Ending June 2022
North America
In the second quarter of 2022, the Anhydrous Hydrofluoric Acid market in the North American region observed significant bullish sentiments. The retaliatory sanctions over Russia have curtailed several key upstream supplies of the new energy raw material, followed by the resurgence of COVID in China that worsened the situation. As a ripple effect, the overall supply outlook for Anhydrous Hydrofluoric Acid pressurized amidst the limited imports of the raw materials. Whereas the demand remains buoyed in the domestic market, uplifting the sentiments of the domestic producers to raise the offered quotations in the domestic market. Therefore, the DDP USGC discussions for Anhydrous Hydrofluoric Acid averaged at USD 2134 per tonne during the quarter ending in June 2022.
Asia Pacific
Overall the market sentiments for Anhydrous Hydrofluoric Acid in the Asia Pacific region were bullish for most of the term in the second quarter of 2022. The sudden surge in the inquiries for the upstream raw materials from the western nations has prevailed significant pressure on the availability of Anhydrous Hydrofluoric Acid in the Chinese domestic market. In contrast, the domestic demand in China remained subdued in the first half due to the COVID-related shutdown in the northeast region. The closure of automobile production during the shutdown has impacted the complete upstream value chain. Therefore, the market was majorly dependent on the export volumes, followed by the curtailed operational rates at several facilities to maintain subtle netbacks. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid assessed at USD 1742 per tonne during the last week of June.
Europe
In the second quarter of 2022, the European market observed severe gyration in the macro-economical levels that kept the Anhydrous Hydrofluoric Acid market bullish in the Northwest European and Mediterranean region. The retaliatory sanction on Russia by the E.U. has curtailed the availability of the essential raw materials for E.V. battery manufacturing. The European players were hesitant to procure the Russian cargoes at the black sea. Therefore the market participants were keener toward the Asian suppliers for the raw materials, and the operational rates also dropped further amidst the higher energy cost. Thus, the FOB NW-Europe discussions for the Anhydrous Hydrofluoric Acid settle at USD 2298 per tonne by the quarter ending.
For the Quarter Ending March 2022
North America
In the first quarter of 2021, the Hydrofluoric Acid in the North American region maintained a staggering upward trend. The downstream industries' demand remained balanced amidst the consistent inquiries from the E.V. battery industries, refrigerants, and Metals sector. In addition, the safety concerns in the San Luis Potosi, a feedstock fluorspar mine in Mexico, have imposed force majeure, leading to a reduction in the production and contracts to consumers. As a ripple effect, the FOB Gulf discussions observed a gain of 4.68% in the producer's quotations during the first quarter of 2022.
Asia Pacific
Overall, the market sentiments for Anhydrous Hydrofluoric Acid in the Asia Pacific region remained suppressed throughout the quarter. This market development is primarily attributed to the restricted consumption from the downstream industries. Most downstream facilities were on a temporary turnaround ahead of the Lunar New Year holidays in China, followed by slower operational rates due to the Winter Olympics. In addition, the resurgence of COVID in China further worsened the situation, and the demand was further suppressed. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid were settled at USD 1756 per tonne in March 2022.
Europe
In the first quarter of 2022, Europe's Anhydrous Hydrofluoric Acid market observed a significantupward trajectory. Several analyses showcased that Europe imported Hydrofluoric Acid and then exported it. The Suez Canal authorities doubled the taxes, leading to an additional cost to the quotation in the European market. In addition, the conflict that erupted in the eastern European region led to strong resistance from the European Union. The domestic players were reluctant to procure the Russian cargoes, effectively driving the producer's quotations upward.
