Succinic Acid Prices Trend, Monitor, News, Analytics and Forecast | ChemAnalyst
Succinic Acid Prices: During the Quarter Ending December 2023
North America:
Succinic Acid prices in North America exhibited oscillations during Q4 2023, declining by nearly 11% compared to the previous quarter. This decrease stemmed from reduced demand and procurement activities across end-user industries, prompting exporters to adjust their quotations accordingly.
At the quarter’s onset, Benzene prices, a key feedstock, experienced a decline mid-month, attributed to a drop in Crude Oil prices by OPEC+ amidst stabilization speculations concerning supply chain disruptions in the Middle East amid conflict between Israel and Palestinian Islamist groups. Moderate supplies of Succinic Acid were noted from China, a primary exporter. However, demand remained subdued in the mid-quarter, with a decline in consumption rates in the food sector and diminished orders from the textile industry due to reduced demand for Polyester fiber with the onset of winter. Orders from the Pharma sector remained stable.
Towards the quarter’s end, an uptick in freight charges through the Panama Canal elevated import prices. Additionally, low water levels in the Panama Canal and Mississippi River caused supply chain disruptions, impacting regional supplies. Ultimately, by the end of Q4 2023, import quotations for Succinic Acid CFR Texas in the USA hovered around USD 1,750/MT.
Get Real Time Prices of Succinic Acid: https://www.chemanalyst.com/Pricing-data/succinic-acid-1270
Asia:
The Succinic Acid market in China witnessed fluctuations during the final quarter of 2023, with prices declining by 14% compared to the previous quarter. Dampened demand from buyers and shifts in production rates and supply availability influenced the market.
Initially, the market experienced a bearish trend as textile sector orders decreased with winter’s arrival, alongside a drop in Polyester fiber demand. Simultaneously, Benzene prices fell due to declining Crude Oil prices amid weakened US and European economies, reducing production costs. Mid-quarter, trading activities declined due to reduced regional buyer orders, although Succinic Acid inventory levels remained adequate. However, a fire incident at Qilu Petrochemical in Shandong Province on December 23rd stressed feedstock n-butanol supplies, affecting production rates in key Succinic Acid producer China.
Toward the quarter’s end, the market saw improvement from the regional clothing fiber industries due to increased consumption and heightened sales in the regional retail sector. Succinic Acid FOB Qingdao quotations in China ended the quarter at USD 1,590/MT, while in South Korea, Succinic Acid CFR Busan hovered at USD 1,620/MT.
Europe:
Similar to North America, the European Succinic Acid market witnessed price fluctuations during Q4 2023, with prices declining by nearly 9% compared to the previous quarter. This decline resulted from reduced demand and procurement activities across end-user industries, prompting exporters to adjust quotations.
Demand for Succinic Acid ranged from low to moderate, with decreased orders from the textile industry due to reduced Polyester fiber demand during winter. Mid-quarter, consumption rates dipped in the food sector, with a 1.1% contraction in the food sales index in October 2023. Offtakes and procurement activities from buyers decreased, leading to higher inventory levels, while supply rates remained moderate.
Towards the quarter’s end, tight supplies were noted in the regional market amid supply chain disruptions. Asian exporters reduced supplies to the regional market, coinciding with an increase in ship traffic after Houthi Rebels in Yemen attacked vessels in the Red Sea, prompting commercial vessels to reroute to the Cape of Good Hope. Import quotations for Succinic Acid CFR Hamburg in Germany stood at USD 1,770/MT by the end of Q4.
Get Real Time Prices of Succinic Acid: https://www.chemanalyst.com/Pricing-data/succinic-acid-1270
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