Chloroform Prices, Pricing, Demand & Supply
North America
Chloroform pricing in North America region during Q4 2023 witnessed a fluctuating trend. The market sentiments were robust due to the low supply of regional products resulting in Chlor alkali companies elevating their production pace. Nevertheless, bullish demand and reviving market fundamentals elevated the price trend, supported by the low inventories of Chloroform and brisk demand.
The surging product demand from the downstream R-22 refrigerant market also helped in increasing the prices. The stability in the supply/demand equilibrium and moderate demand from the downstream R-22 refrigerant ventures remained the primary reason for price stability. The USA had the maximum change in prices with a weekly incline of 2.15%. The price trend was elevated by the heightening demand from downstream refrigerant industries, increase in trading market, and supply disruption for the exports of cargos from the US to the overseas market. There was no plant shutdown during this quarter.
The price of Chloroform FOB Los Angeles in the USA for the current quarter was USD 591/MT during Dec 2023. In comparison to the last year's same quarter, there was no change in the price, while there was a 5% decrease in price from the current quarter to the previous quarter of 2023.
Asia Pacific region
The Chloroform Prices in the APAC region experienced a challenging fourth quarter of 2023, with several factors influencing prices. Firstly, limited purchases of Chloroform from the Chinese market led to a decrease in import prices in India. Suppliers redirected their cargos to the Indian port in the hope of better sales recovery. Secondly, the bearish market situation and high supply levels contributed to more competitive prices and sufficient local supplies to meet customer demands.
Lastly, a decline in market trading fundamentals and feeble trading activities deterred demand, further affecting the Chloroform market. In terms of South Korea, the country experienced significant price changes during the quarter. The price of Chloroform FOB Busan decreased by 3.4% in December with slow market offtakes. These fluctuations may be attributed to deterred demand and a feeble trading market, which impacted trading activities.
In terms of price trends, seasonality, and correlation, the Chloroform market in South Korea saw a 4% decrease from the previous quarter of 2023. Additionally, the price in the current quarter showed a 13% decrease compared to the same quarter of the previous year. Overall, the Chloroform market in the APAC region faced challenges in the fourth quarter of 2023, with limited purchases, bearish market conditions, and deterred demand impacting prices. The price of Chloroform FOB Busan in South Korea for the current quarter is USD 429/MT during Dec 2023.
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Europe
The Chloroform market in Europe during the fourth quarter of 2023 witnessed several key factors that impacted prices. Firstly, there was a restricted supply of Chloroform in the region, leading to a cost support and an increase in prices. Additionally, the demand for Chloroform remained high, particularly in the downstream R-22 refrigerant industry, which further supported price increases.
Moreover, the market sentiments remained optimistic, with robust buying activity and low product stockpiles across the ports. In terms of specific country analysis, Germany experienced significant price changes during this quarter. The price of Chloroform in Germany surged due to limited product availability and rising demand from the downstream sector. Exports of Chloroform from Germany to the Netherlands also increased, contributing to the price uptrend.
Despite the volatility in supply and demand, local manufacturers in Germany maintained their production facilities at a higher pace to meet the increasing demand. Nevertheless, towards the end of the quarter, the market trades slumped further due to rise in slow market purchases and sluggish market trades. Players in the market are still hesitant to raise prices, and product stocks are still sufficient. This price trend resulted from a sluggish trading environment and little demand for new equities.
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