C10 Solvent Prices, Pricing, Demand & Supply
North America
During the last quarter of 2023, the C10 Solvent market in North America witnessed a decline in prices. The foremost factor contributing to this trend was a decrease in demand, primarily attributable to challenges within the construction industry, leading to diminished buying interest among end-users.
Furthermore, the supply of C10 Solvent Prices remained consistently high throughout the quarter, as manufacturers proactively produced the product in anticipation of future demand. However, the abundant availability of the product in the market exerted downward pressure on pricing. The United States, being the focal point of this analysis, witnessed a substantial downturn in C10 Solvent prices during the quarter. Specifically, the price of C10 Solvent in the USA decrease compared to the previous quarter. This decline was predominantly driven by the confluence of low demand and ample supply in the market. Additionally, the year-on-year comparison reflected a decrease in prices for the same quarter of the previous year.
The prevailing pricing trend in the USA during this quarter was profoundly influenced by the aforementioned factors, collectively contributing to a bearish market sentiment. In summary, the market dynamics for C10 Solvent in North America during the fourth quarter of 2023 were predominantly shaped by low demand, ample supply, and a discernible downward pricing trend in the USA.
APAC
In the fourth quarter of 2023, C10 Solvent market experienced a bearish trend in the APAC region. The top three factors that impacted the market were the decline in global crude oil prices, low demand from the downstream industries, and improved supply levels. The global crude oil prices experienced a steep fall, leading to a decrease in the prices of C10 Solvent. Furthermore, the low demand from the domestic and international markets exceeded the available supply. There were no reported plant shutdowns during this period. In South Korea, which experienced the most significant changes in C10 Solvent prices, the market trend was bearish. The supply of the product remained moderate, while the demand was low. The pricing dynamics of the product were primarily driven by the easing production costs. The Consumer Price Index in South Korea increased by 0.6% from the preceding month, indicating that consumers were more willing to accept higher prices for goods and services. The price of C10 Solvent in South Korea at the end of the fourth quarter was USD 1015/MT FOB Busan. This represents a 9% increase compared to the previous quarter and a 7% decrease in price when comparing the first and second halves of the quarter. The price change from the same quarter of the previous year was not mentioned. Overall, the market conditions and factors such as global crude oil prices and demand levels had a significant impact on the pricing of C10 Solvent in the APAC region during the fourth quarter of 2023.
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Europe
Throughout the fourth quarter of 2023, the C10 Solvent market in the European region displayed a downward or bearish trend due to low margins and high inflation, leading to pressure on the market. Despite moderate to low consumption, traders raised their offers to improve margins, while upstream prices declined. The demand for Crude oil did not improve as anticipated. Germany experienced a significant rise in C10 solvent prices due to high production costs and inflationary pressure, with demand partially improving from the domestic market. No plant shutdowns were reported in Germany during this period. The price trend in Germany may be influenced by expected hikes in upstream costs, changes in demand due to destocking practices, and improvements in regular buyer queries. Upstream costs and the rise in crude oil prices may support the price trend. In September 2023, C10 Solvent prices in Germany increased by 28.1% compared to the previous month, driven by the surging value of crude oil. The latest price for C10 Solvent FOB Hamburg in Germany for the current quarter is USD 1170/MT.
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