For the Quarter Ending September 2023
During the third quarter, Dinitrochlorobenzene (DNCB) in North America experienced a decline. The economic activity in the United States also contracted during this period, attributed to diminished demand from both domestic and international markets. In August, inflation in the United States reached 3.7%, marking the first instance since June 2022, primarily driven by a notable surge in energy prices towards the end of the summer. This surge had a detrimental impact on consumer confidence. The increasing inflationary pressures indicate a deviation from the Federal Reserve’s 2% target rate, prompting officials to consider a later-year interest rate hike. In July, the Federal Reserve increased its key policy interest rate by 0.25%, marking the eleventh adjustment in 17 months, aimed at addressing persistent inflation and resultant lower market demand. The combination of rising fuel prices and elevated interest rates contributed to heightened economic uncertainty and weakened consumer confidence in September. Manufacturers reported a further decline in new orders, with the most significant contraction adding to the negative trend. To maintain profitability, businesses continued to liquidate their backlog and stock.
Dinitrochlorobenzene prices in the Asia Pacific region exhibited a diverse pattern in the third quarter. While prices remained steady in July and August, a decline was observed in September. In July, India’s manufacturing PMI fell slightly to 57.7 from June’s 57.8, indicating continued solid growth momentum in the manufacturing sector at the quarter’s outset. Marginal growth in consumption activity in July was driven by increased new orders from foreign countries. However, ample supply met the existing market demand, ensuring market stability. August witnessed a robust manufacturing sector in India, marked by the fastest expansion rate in three months, leading to increased production activity and output. This resulted in a sufficient supply of Dinitrochlorobenzene in the Indian market. Although demand saw a slight uptick, with increased new orders, sales, and consumer purchasing activity, the manufacturing sector in India slowed in September. The deceleration was primarily due to a slower increase in new orders, affecting the pace of production expansion and causing prices to fall. The PMI dropped from 58.6 in August to 57.5 in September, signaling a significant slowdown in industrial activity.
Get Real Time Prices of Dinitrochlorobenzene (DNCB): https://www.chemanalyst.com/Pricing-data/dinitrochlorobenzene-1553
Dinitrochlorobenzene prices in Spain followed a downward trajectory in the third quarter. Factory activity in Spain experienced a fifth consecutive monthly decline in July, attributed to decreased local and overseas demand for Spanish goods. The Spanish manufacturing Purchasing Managers’ Index (PMI) dipped to 47.8 in July, down from June’s 48 and May’s 48.4. Consumer confidence remained low in August due to repeated rate hikes, high inflation, the energy crisis, and geopolitical dynamics. The persistent inflation, driven by high energy and oil prices, adversely affected consumer buying power, contributing to the price drop. In September, Dinitrochlorobenzene prices fell further as weak end-user demand persisted despite ample market supplies. Overall business activity slowed due to a reduction in new orders and purchases. In response to stubborn inflation, the European Central Bank decided to raise interest rates for the tenth consecutive time in September, further impacting market demand and sustaining the downward trajectory.
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