For the Quarter Ending September 2023
In the third quarter of 2023, the prices of n-Propanol in North America underwent significant fluctuations. Initially, producers reduced quotations due to a decrease in demand from end-user industries, which were grappling with sluggish activities in the downstream sectors. Concurrently, logistical challenges arose from disruptions in U.S. shipping and freight routes, stemming from declining water levels in the Mississippi and Ohio rivers, as well as delays in shipping routes through the Panama Canal. Consequently, product prices experienced an upward trend in the mid-quarter. The supply remained constrained as upstream Ethylene faced disruptions, attributed to a global reduction in inventories of upstream Crude oil due to production cuts by Russia and OPEC+. Additionally, a slight decline in demand resulted from an increase in bank interest rates by the Federal Reserve Bank, aimed at curbing rising inflation. This led to a slowdown in economic growth in the region, with moderate offtakes observed in the Pharma sector. Subsequently, Hurricane Idalia, making landfall on August 30, 2023, disrupted supply rates, causing prices to rise again towards the end of the quarter.
In the Asian region, the n-Propanol prices exhibited a fluctuating trend during the third quarter of 2023. Initially, prices declined due to ample supplies resulting from destocking practices by regional producers at the quarter’s outset. Simultaneously, production rates decreased as upstream Ethylene availability was hampered by plant shutdown activities at Hanwha Total Petrochemical in South Korea. The mid-quarter experienced logistical challenges caused by regional storms and typhoons such as Doksuri, Saola, and Khanun, coupled with heavy rainfall, leading to inadequate supply rates. Subsequent decreases in operating rates were influenced by the weak availability of upstream Ethylene, attributed to Crude Oil production cuts by OPEC+ and Russia. Towards the end of the quarter, prices decreased again as upstream costs stabilized, accompanied by moderate procurement activities from buyers before regional festivals and holidays. Demand waned from insecticide producers due to decreased offtakes from the agriculture sector amid rising global temperatures.
Get Real Time Prices of n-Propanol: https://www.chemanalyst.com/Pricing-data/n-propanol-1182
In Europe, the third quarter of 2023 witnessed fluctuations in n-Propanol prices. At the quarter’s onset, prices declined due to surplus stocks, a result of sluggish consumption rates in downstream industries amid moderate activities in end-user sectors. The high energy prices and increased bank interest rates by European banks led to decreased demand, causing a slowdown in Eurozone growth. Consumption rates remained moderately low during summer holidays in the region, although orders remained stable from the Pharma sector. Mid-quarter, prices experienced a marginal increase due to limited supply rates in the market. Concurrently, cost support was high on upstream Ethylene owing to an escalation in Brent Crude Oil prices amid stressed Crude Oil stocks from production cuts by global refineries. This raised production costs towards the end of the quarter amid stable demand from downstream industries and the Pharma sector. However, the hike in bank interest rates by the European Central Bank negatively impacted demand from buyers, resulting in a decline in product prices at the close of the third quarter of 2023.
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