For the Quarter Ending September 2025
North America
In the United States, the Aluminium Trihydrate (ATH) Price Index rose by 4.28% quarter-over-quarter, driven by higher import offers and increased construction activity.
• The average ATH price for the quarter reflected landed costs, freight, and depot-level adjustments.
• ATH Spot Price firmed as importers responded to tighter Indian export allocations and elevated bauxite costs.
• ATH Production Cost Trend showed upward pressure from higher raw material costs and freight, supporting stronger landed pricing.
• ATH Demand Outlook remains positive, led by coatings, flame-retardant, and construction applications, sustaining procurement activity.
• ATH Price Forecast indicates moderate near-term upside as restocking continues, and supplier allocations tighten.
• Domestic inventory levels were stable but forward buying and import timing constrained flexibility and created short-term volatility.
• Suppliers maintained controlled allocations, balancing inventory management with sustained procurement from key industrial sectors.
Why did the price of Aluminium Trihydrate change in September 2025 in the USA?
• Elevated import offers, higher bauxite costs, and strong construction demand drove increased land prices.
APAC
• In Taiwan, the Aluminium Trihydrate Price Index rose by 10.9% quarter-over-quarter, driven by higher import offers.
• The average Aluminium Trihydrate price for the quarter was approximately USD 441.67/MT, reflecting landed and freight costs.
• Import-dependent market saw elevated Aluminium Trihydrate Spot Price as Indian exporters raised offers amid tighter bauxite supply.
• Aluminium Trihydrate Price Index gains reflected construction sector recovery and buyers accelerating purchases ahead of Q4.
• Aluminium Trihydrate Production Cost Trend showed upward pressure from higher bauxite input prices and sustained ocean freight.
• Aluminium Trihydrate Demand Outlook remains positive for coatings, flame-retardant, and construction applications supporting procurement activity.
• Inventory levels largely stable, yet import timing and supplier allocations limited buyer flexibility and increased volatility.
• Aluminium Trihydrate Price Forecast indicates modest near-term upside as exporters tighten allocations and restocking resumes across converters.
Why did the price of Aluminium Trihydrate change in September 2025 in APAC?
• Higher Indian export offers and elevated bauxite costs increased landed import costs and compressed supplier margins.
• Construction activity pickup in Taiwan supported procurement, allowing higher landed prices to be absorbed by converters.
• Easing freight partly offset costs, but constrained allocations and forward buying tightened near-term availability, sustaining upward pressure.
Europe
• In Germany, the Aluminium Trihydrate (ATH) Price Index increased by 3.12% quarter-over-quarter, reflecting stronger Indian export offers and steady demand from coatings and flame-retardant applications.
• The average ATH price for the quarter incorporated depot-level adjustments and landed costs for European importers.
• ATH Spot Price strengthened as buyers accelerated restocking in response to limited export allocations.
• ATH Production Cost Trend showed moderate upward pressure from freight and upstream bauxite price movements.
• ATH Demand Outlook remained robust, with sustained procurement from construction, coatings, and industrial sectors.
• ATH Price Forecast signals continued mild upside near-term as European distributors manage inventory against limited import supply.
• Suppliers moderated output and allocations, preventing oversupply while accommodating steady domestic consumption.
• Import and logistics timing influenced price volatility, with constrained shipments supporting near-term index gains.
Why did the price of Aluminium Trihydrate change in September 2025 in Europe?
• Higher Indian export offers, and steady downstream demand supported moderate price increases.
MEA
• In Saudi Arabia, the Aluminium Trihydrate Price Index rose by 13.95% quarter-over-quarter, driven by stronger import offers and construction demand.
• The average Aluminium Trihydrate price for the quarter was approximately USD 490.00/MT, reflecting sustained import-cost pass-through.
• Aluminium Trihydrate Spot Price strengthened on elevated Indian export offers and firmer freight, increasing landed costs for Saudi importers.
• Aluminium Trihydrate Price Forecast suggests modest near-term upside as project restocking coincides with constrained upstream bauxite supply.
• Aluminium Trihydrate Production Cost Trend tightened because rising bauxite and energy costs in India elevated export offer baselines.
• Aluminium Trihydrate Demand Outlook remains supportive due to accelerated infrastructure projects and sustained procurement by construction firms.
• Inventory levels and export appetite influenced the Aluminium Trihydrate Price Index, moderating volatility despite episodic supplier discipline.
• Major supplier capacity utilization remained high, with steady shipments maintaining supply but limiting scope for declines.
Why did the price of Aluminium Trihydrate change in September 2025 in MEA?
• Elevated Indian export offers and tighter bauxite availability increased landed costs, pushing quarterly prices upward.
• Freight rate changes along Asia-Mediterranean trade lanes altered import economics, reducing or amplifying landed price pressures.
• Domestic construction restocking and project acceleration sustained demand, absorbing imports and supporting higher spot pricing levels.
For the Quarter Ending June 2025
North America
• The Aluminium Trihydrate Price Index increased moderately during Q2 2025, attributed to constant demand from the automotive and construction industries and minor supply chain disruptions for raw materials.
• Demand from the automotive sector increased as demand for flame retardants spiked, from significant new vehicle production. Construction sector demand stabilized because of some ongoing infrastructure projects that continued through the quarter. The price increase was attributed to supply-side disruptions, including occasional logistical delays from raw material shipments.
• Why did the price of Aluminium Trihydrate change in July 2025?
In July, the price rose slightly due to sustained demand from the automotive industry and infrastructure projects. A moderate increase in domestic manufacturing costs also contributed to the upward price movement.
• Despite no major port congestion, freight costs experienced minor increases, mainly due to higher transportation costs for raw materials. These logistical factors put slight pressure on overall prices.
• The demand is expected to remain steady, supported by ongoing automotive sector growth and moderate activity in construction. Increased infrastructure spending could boost demand, especially in resin-based applications for construction.
• Production costs have remained stable, with slight increases in manufacturing costs. Margins are under moderate pressure due to increased logistics costs, but producers remain well-positioned to handle this pressure.
APAC
• The Aluminium Trihydrate Price Index in APAC saw a 4.0% increase in Q2 2025, closing at INR 34,500/MT (FOB JNPT India). The price rise was primarily driven by strong demand from export markets, especially Taiwan and Saudi Arabia.
• The construction sector in India remained weak, but demand from the automotive sector and export markets helped keep prices firm. Supply issues from local producers, who faced challenges in raw material procurement, also played a role in price increases.
• Why did the price of Aluminium Trihydrate change in July 2025?
In July, prices surged by 6.0%, driven by strong export demand from Taiwan and Saudi Arabia. The sustained recovery in the automotive sector also played a significant role in the price hike.
• Supply chain disruptions, particularly in India, created some bottlenecks, but exports remained steady, helping to maintain price stability. Manufacturing demand from industries like automotive and construction continued to support production levels.
• Raw material prices, particularly for bauxite, remained stable, but some local producers faced increased production costs due to logistical inefficiencies. The impact of these higher costs was felt in export pricing.
• Demand is expected to grow, driven by continued export activity and recovery in the automotive sector. Additionally, increased infrastructure spending in India could support local demand for Aluminium Trihydrate.
• Prices are expected to rise further, especially as international demand remains robust and local demand for flame retardants continues to grow.
Europe
• The Aluminium Trihydrate Price Index in Europe saw a rise in Q2 2025, supported by stronger demand from the automotive and construction industries, despite some logistical challenges.
• Price Drivers:
The automotive industry showed resilience, especially in Germany, where vehicle production spiked. The construction sector also showed gradual recovery, although some countries experienced slowdowns due to material cost increases.
• Why did the price of Aluminium Trihydrate change in July 2025?
Prices rose in July, influenced by higher global feedstock prices and stronger overseas demand. A slight uptick in domestic consumption also supported price increases, especially in construction applications.
• The Netherlands saw the largest increase, driven by a boost in construction demand and supply chain improvements. However, some countries like Spain experienced slowdowns due to labor shortages and increased raw material costs.
• Freight disruptions, mainly at key Mediterranean ports, delayed shipments, but these issues were quickly addressed with improved port handling capacity. Supply from local producers remained stable despite logistical pressures.
• Manufacturing costs in Europe have risen modestly due to increases in raw material prices. These cost pressures have had a slight effect on overall margins, but production continues to meet demand.
• Demand is expected to remain firm, particularly driven by the automotive and construction sectors. Infrastructure projects across Europe are likely to sustain demand in the second half of the year.
MEA
• The Aluminium Trihydrate Price Index in Saudi Arabia saw a 2.5% increase in Q2 2025, closing at USD 460/MT (CFR Jeddah). The price increase was driven by higher import prices, particularly from India.
• Demand from the construction sector remained stable but weak, while the automotive industry saw some growth. The rise in prices was also influenced by higher input costs from suppliers like India, which led to increased landed costs.
• Why did the price of Aluminium Trihydrate change in July 2025?
Prices rose by 4.0% in July, driven by strong international procurement and a recovery in local construction activity. The increase in raw material costs also had a significant impact on prices.
• Import logistics remained efficient, but rising freight costs from Asia added upward pressure on prices. However, local supply chains remained intact, with minimal disruptions.
• The demand outlook is positive, supported by steady construction activity and growing demand from the automotive sector. A recovery in infrastructure projects and stronger market confidence is expected to drive demand.
• Prices are likely to stabilize but remain firm due to the ongoing demand from construction and automotive sectors.
For the Quarter Ending March 2025
North America
In Q1 2025, Aluminium Trihydrate (ATH) prices in North America showed an upward trend due to increased raw material costs, particularly bauxite. While demand remained steady across key sectors like construction and automotive, production costs steadily rose, leading to price hikes. The impact of global inflationary pressures on raw material costs, including bauxite, was evident throughout the quarter. Supply chains, already facing challenges, were further stressed by higher transportation costs, which contributed to elevated ATH prices.
Despite slower growth in the automotive sector, where demand remained flat, the construction sector showed moderate growth, driven by infrastructure investments and ongoing construction projects. However, this was not enough to offset the rising production costs. The overall market for ATH in North America was marked by a balance of steady demand and increasing supply-side pressures, causing prices to steadily increase.
By the end of Q1 2025, ATH prices had continued to rise, reflecting tight supply dynamics, higher raw material costs, and moderate demand from key industries.
APAC
During Q1 2025, Aluminium Trihydrate (ATH) prices in Taiwan followed an upward trajectory, primarily driven by increased import costs from India, Taiwan’s main supplier. Despite a softening in global bauxite prices toward the end of the quarter, Indian exporters sustained elevated ATH pricing, resulting in consistent procurement pressure for Taiwanese buyers. Domestic production remained limited, and with Taiwan heavily reliant on Indian imports, supply chains remained tight and pricing firm throughout the quarter.
Demand fundamentals were mixed. Traditional downstream sectors such as construction, automotive, and PVC showed subdued consumption. Automotive sales remained underwhelming, while the PVC sector saw weakening interest, prompting many buyers to maintain cautious inventory levels. Although demand from these areas did not show strong recovery, the steady price climb was largely a reflection of cost-push inflation rather than robust market consumption.
Conversely, the electronics, semiconductor, and renewable energy sectors provided a degree of support to the Taiwanese ATH market. As these industries continued to expand, especially in applications requiring high-purity aluminium compounds, they helped offset some of the weakness in conventional demand sectors.
Europe
In Q1 2025, the price of Aluminium Trihydrate (ATH) in Europe showed a consistent upward trajectory, primarily driven by rising raw material costs, especially bauxite. The global inflationary pressures and disruptions in supply chains contributed to an increase in production costs, which affected pricing across the region. The construction and automotive sectors remained steady, supporting consistent demand, but the rising production expenses intensified price pressures.
In January, the price of ATH began to rise due to higher bauxite costs, and this trend continued in February. The price increases were compounded by supply-side challenges, particularly for countries relying on imports. The construction sector remained active, which helped maintain demand, but tight supply conditions pushed prices higher.
By March, ATH prices stabilized, though still elevated due to ongoing production cost pressures. Demand remained consistent, particularly from the construction and infrastructure sectors, but the overall market experienced higher prices driven by the persistent supply chain challenges and raw material inflation throughout the quarter.
MEA
In Q1 2025, Aluminium Trihydrate (ATH) prices in Saudi Arabia experienced fluctuations due to varying supply and demand dynamics. Early in the quarter, the market saw a rise in prices, primarily driven by an increase in bauxite costs, a key raw material, and strong demand from the construction and real estate sectors. This demand, fuelled by ongoing infrastructure projects and urban development, helped support higher prices.
As the quarter progressed, the market faced pressure from an oversupply of ATH, despite rising raw material costs. The surplus inventory led to a slight decrease in prices, although the PVC sector continued to show growth, which helped stabilize demand in certain areas.
Towards the end of the quarter, ATH prices rebounded, driven by higher import costs from India and increased demand from downstream sectors like construction, automotive, and PVC manufacturing. Tightened supply conditions and growing sector activity contributed to the upward trend in prices as the quarter concluded.
For the Quarter Ending December 2024
North America
The North American Aluminium Trihydrate market in Q4 2024, particularly in the USA, experienced subdued conditions. Oversupply, high inventories, and weak demand, especially from the paints and coatings sector, contributed to a downward pressure on prices, resulting in a price decline in the Aluminium Trihydrate market.
Several factors influenced the market. Oversupply and high inventories created a price-competitive environment, affecting Aluminium Trihydrate prices. Weak demand from key downstream sectors, particularly paints and coatings (influenced by the slow recovery of the paints and coatings sector, and the modest growth in the construction and automotive sectors), exerted downward pressure. Persistent inflation also affected borrowing costs, impacting sectors like housing and thereby limiting demand for paints and coatings, and subsequently, for Aluminium Trihydrate.
Market participants faced several challenges. Oversupply led to price competition. Weak demand from key sectors, compounded by inflation and high interest rates, limited pricing power. Manufacturers likely engaged in destocking to reduce inventory, potentially leading to further price pressure. The overall economic uncertainty also contributed to cautious purchasing decisions among downstream customers.
APAC
The Indian Aluminium Trihydrate market in Q4 2024 experienced price increases driven primarily by rising bauxite prices and robust domestic demand. October saw a 1-2% price rise across India, Taiwan, and Saudi Arabia due to higher production costs and strong demand linked to festive activities in India. The thriving Indian packaging sector, particularly kraft paper mills supplying the FMCG and e-commerce sectors, significantly boosted demand. This domestic surge, however, constrained export volumes.
November saw further price increases, particularly in India, due to sustained high bauxite prices. This impacted export prices, leading to price hikes in importing countries like Taiwan and Saudi Arabia. While demand remained strong in India's paints and coatings sector, fuelled by construction and government infrastructure projects, rising prices squeezed profit margins for downstream industries. Taiwan experienced a decline in automotive demand, partially offsetting the impact of higher import prices.
Throughout Q4, market participants faced challenges including rising input costs (bauxite), the balancing act between strong domestic demand and export needs, and the impact of fluctuating demand in key importing markets (Taiwan's automotive sector). The strong link between bauxite prices and Aluminium Trihydrate pricing created considerable volatility throughout the quarter.
Europe
The European Aluminium Trihydrate market in Q4 2024, particularly in Germany, experienced subdued conditions. Weak demand, oversupply, and high inventories contributed to price stability, with a potential for slight decreases. October saw stable prices due to weak demand and oversupply. November brought a decline in the prices, reflecting weak post-festive demand and destocking. December witnessed further softening, with price reductions offered to clear excess inventories.
Several factors shaped the market. Oversupply and high inventories of limited pricing power affected Aluminium Trihydrate. Weak demand from downstream sectors—paints and coatings, construction, and automotive—contributed to the subdued market. Stagnation in Germany's chemical industry, geopolitical uncertainties, and economic slowdowns further dampened demand.
Market participants faced significant challenges. Weak demand made it difficult to achieve the desired pricing. Oversupply resulted in price competition and the need for destocking. Economic uncertainty and geopolitical factors contributed to subdued market sentiment. The construction sector in particular suffered from lower demand due to economic and political uncertainties.
MEA
The MEA Aluminium Trihydrate market in Q4 2024, particularly in Saudi Arabia, experienced price fluctuations primarily driven by rising production costs in India, a major exporter. While demand remained relatively stable in key sectors like construction and petrochemicals in Saudi Arabia, increased import costs from India led to price increases throughout the quarter.
October saw a 1-2% price increase across India, Taiwan, and Saudi Arabia due to higher bauxite prices and robust domestic demand in India, fueled by festive activities. November witnessed further price surges, mirroring escalating bauxite costs and their impact on Indian export prices. This ripple effect directly increased import costs for Saudi Arabia and Taiwan.
Several factors shaped the market. Higher bauxite prices significantly increased Aluminium Trihydrate production costs in India, impacting global supply. Strong domestic demand in India, especially from the packaging sector (driven by FMCG and e-commerce), limited export volumes and increased prices. In Saudi Arabia, steady industrial demand, particularly in construction and petrochemicals, counterbalanced the impact of higher import costs. Taiwan experienced a decline in automotive demand, partially offsetting the impact of higher import prices.
Market participants faced several challenges in Q4 2024. Rising input costs squeezed profit margins for downstream industries, particularly those price-sensitive. The increased import prices posed significant challenges to businesses dependent on Aluminium Trihydrate imports, necessitating cost adjustments or price increases for their products. The final quarter price for Aluminium Trihydrate CFR Jeddah reached USD 395/MT.
