Firm offtakes amid global scarcity, uplifted the Bromine prices during Q1 2021 | ChemAnalyst

Market Overview

Quarterly Update on Global Bromine Market

For the Quarter Ending March 2021

North America

The supplies in the North American region remained limited during the first quarter of 2021, owning to the repercussions of the polar winter storm in the US Gulf region. The industrial infrastructure collapsed, and plants were forced to shut their production during the mid-February. However, restocking activities from the previous quarter under the stress ahead of winter season reduced the impact over the prices of Bromine which averaged around USD 4480 per tonne FOB Michigan. Demand witnessed a tremendous uptrend as the offtakes improved from the downstream chemicals and pharmaceutical industries.

Asia-Pacific (APAC)

The Asia Pacific Bromine market witnessed strong market sentiments with tight supplies during the first quarter of 2021, owning to the limited inventories of Bromine as several Bromine manufacturers halted their production during the first half of the quarter as the inventories level were piled up amid the reluctant offtakes and Chinese lunar new year holidays in the February. Demand was healthy from the downstream flame retardants and intermediates; however, the offtakes surged from the pharmaceutical sector by the quarter ending due to the resurgence of COVID in India. Prices in the FOB Shanghai hiked by 16.8% on y-o-y averaging at USD 5620 per tonne in Quarter ending.    

Europe

Supplies in the European market remained balanced to tight throughout the Q1 of 2021, owning to the reduced throughput in the regional manufacturing facilities. Deliveries to Antwerp were disrupted amid the extreme cold weather in the North western hemisphere and the decline in shipments from the USA. Demand surged as the offtakes improved from the downstream pharmaceutical and chemical manufacturing industries.

Market Overview: https://www.chemanalyst.com/Pricing-data/bromine-1125

Bromine is a fuming liquid with dark-reddish brown color and pungent odor. The product is widely demanded for the production of agriculture chemicals, dyestuffs, pharmaceuticals, and chemical intermediates. The compounds of Bromine can also be used as flame retardants. Its compound Organobromides is used in halon fire extinguishers. Silver bromide is chemical used in film photography. Bromine is produced commercially by heating sodium bromide containing brines and then oxidized to elemental form with chlorine. Crude bromine is then obtained from compound with either steam or air. The product is soluble in organic solvent and is less active chemical than chlorine and fluorine but is more active than iodine. The compounds of Bromine are similar to those of halogens.    

Product Specific Details

CAS No.: 7726-95-6; HS Code: 28013020, 28013001; Grades: Technical, Industrial; Packaging Size: Bottles/tanks/drums; Incoterms: CFR, FOB, Ex-Works, Bulk Contracted, Spot

Countries Covered:

APAC – China, Japan, India, South Korea, Singapore,

Europe – Germany, France, Belgium

America – USA, Brazil

MEA – Saudi Arabia, UAE, South Africa

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Related Report:

Global Bromine Market Analysis, Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030

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