Butyl Glycol Prices, Pricing, Demand & Supply
North America
During the fourth quarter of 2023, Butyl Glycol prices experienced a significant decline in the North American market, concluding in December 2023. The diminished demand from the transportation and industrial heating sectors led to a bearish market, with existing storage unit inventories proving ample to meet the low demand, eliminating the necessity for fresh stock.
Suppliers, grappling with the reduced demand, opted to maintain their prices while engaging in negotiations and offering discounts for bulk purchases. Simultaneously, the upstream sector witnessed a downward price trend, contributing to a reduction in the overall production cost of Butyl Glycol.
Buyers were cautioned to stay vigilant and closely monitor market conditions to secure sufficient supplies of Butyl Glycol Prices. In response to the subdued domestic market demand, producers curtailed the production rate of the commodity, adopting a cautious approach in line with end-user demand. Trading activities were sluggish due to the surplus stocks stored in inventories, further contributing to a subdued market environment.
APAC
In Q4 2023, the price of Butyl Glycol in APAC region witnessed an increase in market trading fundamentals and improvement in downstream demand when compared with the previous quarter. Producers of Butyl Glycol have taken a firmer stance in response to the end-user Paint and coating industry's robust demand. Such a cost structure resulted from firmer product offers and a progressive growth in buying activity. Utilizing current supplies continued to be a major factor driving up the cost of Butyl Glycol in the domestic market. Regarding inventories, they were consistently used by the final user companies. The cost support from the upstream Ethylene oxide and n-butanol market remained brisk and the market trades were also elevated with high market fundamentals. In Malaysia, the price of Butyl Glycol surged to USD 1060/ton FOB Klang during Dec 2023. The supply of Butyl Glycol in the region stays low, with strong cost support from the downstream industries. The trading of Butyl Glycol in the domestic market surged due to increasing purchasing activity and increased production costs among the significant production units.
Europe
In the European market, the price of Butyl Glycol witnessed a sluggish market trend in the wake of weak spot trading discussions and limited demand fundamental. Given adequate supply among businesses and weak downstream demand, Butyl Glycol prices in Germany continue to hover low. Weak market fundamentals also caused feedstock ethylene oxide prices to drift South. Nonetheless, the limited and immediate use of items from the solvent sector led to an increase in n-butanol costs. Due to sluggish market fundamentals and a lackluster consumer appetite, the European Butyl Glycol industry declined overall. In Germany, the price of Butyl Glycol declined to USD 1250/ton FOB Hamburg. Paint and coating projects downstream were meticulously meeting the requirements of the ultimate client. This quarter, Butyl Glycol futures saw even more volatility as weak derivatives demand drove down prices. Demand in the European market was perceived as being fragile; yet the market is progressively contracting due to the downstream businesses' low product consumption.
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MEA
In Q4 2023, the price of Butyl Glycol in Middle Eastern market declined in the wake of limited demand fundamentals and spot purchasing activities. Export providers decreased their offers for the Middle Eastern market as spot rates remain sluggish. Nonetheless, purchasers avoided exchanging cargos because they had lost competitiveness. More participants are negotiating new price levels at the start of the quarter, although October remains slow owing to longer supply and high-level stocks. Small price increases pass through transactions due to customers' presumably restricted demands and low purchase activity in the location. Participation in the Butyl Glycol markets remained bearish and trade volumes were relatively high. Elevation in coastal inventories and lackluster demand in the Middle Eastern market plummet trading activities. The demand index for Butyl Glycol declined, supported by a weak purchasing appetite and sluggish market fundamentals. Despite an increase in upstream crude oil prices due to the Israel-Hamas conflict, the Butyl Glycol market closed this month on a pessimistic note, with suppliers unable to negotiate a price reduction on bulk purchases.
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