For the Quarter Ending September 2023
During the third quarter, Ethylene Acrylic Elastomer (AEM) prices in North America experienced a significant drop in July, driven by reduced upstream costs as Ethylene and Acrylic Acid prices slumped. Despite the automotive industry’s robust growth, particularly with domestic sales rising by over 20% in June and over 17% in Europe, the USA market witnessed a decline in AEM prices. The manufacturing sector in the US showed signs of stabilization in July, but factory employment hit a three-year low, contributing to the overall decrease in AEM prices. The Purchasing Managers’ Index (PMI) for the United States declined from 49 in July to 47.9 in August, impacting the supply chain and causing a marginal uptick in AEM prices. Despite contradictory demand sentiments in domestic and international downstream industries, AEM prices remained stagnant in the US market during September.
In contrast to North America, the Asia-Pacific region saw a consistent decline in AEM prices throughout the third quarter of 2023. Despite significant growth in the Asian new vehicle market, fueled by recovery from COVID-19 lockdowns and improved semiconductor supply, AEM prices continued to decrease. Several factors contributed to this trend, including a simultaneous drop in Ethylene prices and heightened competition in the market. The reduced cost of Ethylene directly impacted manufacturing expenses, leading to a downward adjustment in AEM prices. Increased competition prompted manufacturers to strategically lower prices to maintain competitiveness in the industry.
Get Real Time Prices of Ethylene Acrylic Elastomer (AEM): https://www.chemanalyst.com/Pricing-data/ethylene-acrylic-elastomer-1211
Similar to the Asia-Pacific region, AEM prices in the European market consistently fell during the third quarter of 2023. The decline was primarily attributed to a substantial downturn in the construction industry across the Eurozone, marking the most significant drop of the year. The Purchasing Managers’ Index (PMI) for the Eurozone construction sector indicated a noteworthy reduction in industry activity. This construction slowdown resulted in reduced demand for AEM not only in Europe but also globally. Despite relative price stability in Ethylene and Propylene feedstock in Europe during August and September, the continued downward price trend observed in July had a substantial impact on AEM production costs.
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