For the Quarter Ending June 2023
North America
Prices of Anhydrous Hydrofluoric acid showed a mixed trend in the second quarter of 2023. In the month of April, the price of Anhydrous hydrofluoric acid rose due to increased demand from the downstream refrigeration and refinery industries as the summer season approached. Cost support from Fluorspar also provided this bullish trend across the month as the United States imports Fluorspar majorly from China, which had a significant impact on the pricing of domestic hydrofluoric acid. In the months of May and June, the prices remained stable and showed a slight increase due to consumer electronics demand improvement. The supply remained stable and cheap imports from China supported to curb the price rise. As Inflation moderates in the US to 3 percent, consumer demand is improving while investors' sentiment is 'neutral' due to the expectation of another interest hike by the US Federal Reserve. The price of anhydrous hydrofluoric acid (AHF) in the United States is around USD 2100/MT. This is an increase of around 13% from the price in 2022.
APAC
Prices of Anhydrous hydrofluoric acid show a floating trend in the second quarter of 2023. In the month of April 2023, the prices of Anhydrous hydrofluoric acid increased by 5.5 percent in the Chinese market due to a positive cost push from the feedstock fluorspar and energy prices. The demand from the downstream refrigeration industries increased as the summer season approached. The supply remained stable, and an operational capacity of over 90 percent was utilized and increased to fulfill the demands of the domestic market. In the months of May and June, the prices of Anhydrous Hydrofluoric Acid showed a bearish trend in Asia due to a significant decline in feedstock and energy prices. Inquiries reveal high inventory stocks and moderation in the demand from downstream industries. In India, the price trend is bullish throughout the second quarter. The demand from downstream industries like refrigeration and low inventory stocks has been one of the crucial drivers of the price rise. Imports from the United States and China have significantly impacted the price of Anhydrous Hydrogen Fluoride in India. Prices of Anhydrous Hydrofluoric Acid FOB Shenzhen were settled at USD 1403/MT in the month of June 2023.
Europe
Prices of Anhydrous hydrofluoric acid show a floating trend in the second quarter of 2023. In the month of April, the price of anhydrous hydrofluoric acid rose because of positive cost support from the prices of feedstock fluorspar. The demand from downstream industries like refrigeration and low inventory stocks has been one of the crucial drivers of the price rise. Energy prices in Germany played a significant role in the price rise. In the months of May and June, prices of anhydrous hydrofluoric acid remained stable with a slight increase till the mid of June 2023 as the demand from downstream refrigeration and fluoropolymer industries remained bullish as the heatwave spread across Europe. Imports from US and China supplied the increasing demand and helped in moderating the price. By the end of June, we see price moderation and the beginning of a bearish trend in Europe because of a decrease in demand from the downstream industries and Europe's macroeconomic parameters showing a technical recession. Prices of Anhydrous Hydrofluoric in the month of June 2023 averaged USD 1600/MT.
For the Quarter Ending March 2023
North America
In the North American market, the overall prices of Anhydrous Hydrofluoric Acid showcased mixed market sentiments in the first quarter of 2023. The prices of the product rose in the first month of Q1 amid tighter monetary conditions and volatile energy materials costs, whereas the supply and demand dynamics were balanced. In February, the market prices gained downward momentum as the inflationary pressure impacted consumer sentiments; thus, limited purchases were reported. In March, the overall prices declined further amid limited procurement from the downstream cleaning and oil refining industries and weaker cost support from the upstream Fluorite in the region.
APAC
The market prices of Anhydrous Hydrofluoric acid exhibited a bearish pricing trend in the Chinese domestic region throughout the first quarter of 2023. In January, the offers plunged considerably owing to adequate supply and a drop in the downstream inquiries. Also, the cost support from the feedstock Fluorite and Sulphuric acid remained weak in this period. In February, the spot prices decreased in the Chinese market due to weak demand as the overseas market players slowed the procurement of the product. Whereas, in March, the market prices stabilized in the region amid a balanced supply and demand outlook in the downstream cleaning and oil refining industries. The demand outlook improved slightly, and production rates caught pace in this time frame. Thus, the offered quotes for Anhydrous Hydrofluoric Acid FOB Shenzhen settled at USD 1402 per tonne at the end of Q1 2023.
Europe
The overall pricing of Anhydrous Hydrofluoric Acid in the European market demonstrated mixed market sentiments in the first quarter of 2023. The product's prices increased in the first month of Q1 due to the lack of market competitiveness in the region as the Asian market activities remained at lower levels in this period. In February, market prices began to fall as inflationary pressures and uncertainties regarding economic conditions affected consumer sentiments, resulting in limited purchases. Overall prices fell further in March due to reduced procurement from the downstream cleaning and oil refining industries, as well as decreased cost support from the upstream Fluorite in the European region.
For the Quarter Ending December 2022
North America
Overall the Anhydrous Hydrofluoric Acid market in the North American region observed a considerable shift with constant uncertainties in the regional market during the fourth quarter of 2022. This development has primarily been attributed to the subdued demand from the downstream industries. Currently, the downstream refrigerant market went through a seasonal off-trend, and the discussions have remained suppressed at the spot market. Whereas offtakes from the EV manufacturing facilities have remained stagnant with a slight downshift. As a ripple effect, the CFR Houston discussions for Anhydrous Hydrofluoric Acid were assessed at USD 2012 per tonne during December 2022.
Asia Pacific
The Anhydrous Hydrofluoric Acid market in the Asia Pacific region has witnessed mixed sentiments in the fourth quarter of 2022. In the first half of the quarter, the offers have soared or improved based on the market dynamics of the subregions, even though the procurement practices were dropped by the start of the second half. This development has been majorly attributed to the slowdown of EV sales in China and the cautious approach by the downstream manufacturers. The procurement drive was higher during the first half till the sufficient inventory levels to sustain the production till the next upcoming quarters, which further coupled with the offseason trend of the refrigerant industry. Even though the cost support from the feedstock Fluorite and Sulphuric Acid was at higher levels, the manufacturers in China adjusted the operating rates at the manufacturing facilities to sustain the production netbacks. In response, the FOB-Shenzhen discussions for Anhydrous Hydrofluoric Acid were assessed at USD 1802 per tonne in December 2022.
Europe
The European market showcased mixed sentiments for Anhydrous Hydrofluoric Acid during the fourth quarter of 2022. This development has been majorly attributed to the rebound in the market activities post-summer holidays. Although, the supply outlook has been constrained after the majority of domestic players have reduced the rates to sustain the netbacks on the backdrop of high energy costs across the region. The inflation and hiked interest rates have severely impacted the cost of living, leading to a conservative buying streak amongst the consumer end. The looming demand outlook forced the market players to cautiously move ahead of new volume procurement in the second half of Q4 2022. As a ripple effect, the FD Genoa discussions for Anhydrous Hydrofluoric Acid were assessed at USD 2143 per tonne during the quarter ending December 2022.
For the Quarter Ending September 2022
North America
In the third quarter of 2022, the Anhydrous Hydrofluoric Acid market in the North American region witnessed a slightly bullish sentiment. The consistent inquiries from the downstream industries kept the sentiments slightly upward as the offtakes from the EV battery manufacturing facilities were consistent as the uncertainties regarding the hurricane-related supply chain disruption clouded the minds of the downstream participants. In response, participants were more inclined to restore the inventories to secure the essential feedstocks against any troubles caused by the hurricane. At the same time, the financial results of a major manufacturer of Anhydrous Hydrofluoric Acid in Mexico reassured the market trend as the profits generated by sales of Hydrofluoric Acid were up by 9% on a year-on-year basis. As a ripple effect, the DDP USGC discussions for the Anhydrous Hydrofluoric Acid were settled at USD 2243 per tonne during the quarter ending September 2022.
Asia Pacific
Overall sentiments for the Anhydrous Hydrofluoric Acid in the Asia Pacific region remained suppressed in the quarter ending September 2022. Several market experts initially expected that the market activities would rebound tremendously, but the inflation and uncertainties of the COVID curbs and the maintenance season limit the rebound. Whereas in the latter half of this quarter, power rationing in major provinces also impacted the overall development of the value chain. In addition, the demand remained lackluster due to the off-season of the refrigerant industry and modifications in the EV facilities in China. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid were assessed at USD 1510 per tonne in September 2022.
Europe
In the third quarter, the Anhydrous Hydrofluoric Acid market in the European region witnessed a consistent bearish sentiment. However, there has been a slight improvement in the last few weeks of this quarter. Market activities remained muted because the summer holidays in the Northwest European regions led to a significant dip in demand from the end-use sector, impacting the complete value chain. In response, the producers witnessed a considerable increase in contractual inquiries and curtailed the offers to compete in the overseas market. In September, the supply side saw significant pressure as the spot inquiries increased, besides delivering the contractual volumes. Thus, the FCA Antwerp discussions for Anhydrous Hydrofluoric Acid assessed at USD 2440 per tonne in September 2022.
For the Quarter Ending June 2022
North America
In the second quarter of 2022, the Anhydrous Hydrofluoric Acid market in the North American region observed significant bullish sentiments. The retaliatory sanctions over Russia have curtailed several key upstream supplies of the new energy raw material, followed by the resurgence of COVID in China that worsened the situation. As a ripple effect, the overall supply outlook for Anhydrous Hydrofluoric Acid pressurized amidst the limited imports of the raw materials. Whereas the demand remains buoyed in the domestic market, uplifting the sentiments of the domestic producers to raise the offered quotations in the domestic market. Therefore, the DDP USGC discussions for Anhydrous Hydrofluoric Acid averaged at USD 2134 per tonne during the quarter ending in June 2022.
Asia Pacific
Overall the market sentiments for Anhydrous Hydrofluoric Acid in the Asia Pacific region were bullish for most of the term in the second quarter of 2022. The sudden surge in the inquiries for the upstream raw materials from the western nations has prevailed significant pressure on the availability of Anhydrous Hydrofluoric Acid in the Chinese domestic market. In contrast, the domestic demand in China remained subdued in the first half due to the COVID-related shutdown in the northeast region. The closure of automobile production during the shutdown has impacted the complete upstream value chain. Therefore, the market was majorly dependent on the export volumes, followed by the curtailed operational rates at several facilities to maintain subtle netbacks. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid assessed at USD 1742 per tonne during the last week of June.
Europe
In the second quarter of 2022, the European market observed severe gyration in the macro-economical levels that kept the Anhydrous Hydrofluoric Acid market bullish in the Northwest European and Mediterranean region. The retaliatory sanction on Russia by the E.U. has curtailed the availability of the essential raw materials for E.V. battery manufacturing. The European players were hesitant to procure the Russian cargoes at the black sea. Therefore the market participants were keener toward the Asian suppliers for the raw materials, and the operational rates also dropped further amidst the higher energy cost. Thus, the FOB NW-Europe discussions for the Anhydrous Hydrofluoric Acid settle at USD 2298 per tonne by the quarter ending.
For the Quarter Ending March 2022
North America
In the first quarter of 2021, the Hydrofluoric Acid in the North American region maintained a staggering upward trend. The downstream industries' demand remained balanced amidst the consistent inquiries from the E.V. battery industries, refrigerants, and Metals sector. In addition, the safety concerns in the San Luis Potosi, a feedstock fluorspar mine in Mexico, have imposed force majeure, leading to a reduction in the production and contracts to consumers. As a ripple effect, the FOB Gulf discussions observed a gain of 4.68% in the producer's quotations during the first quarter of 2022.
Asia Pacific
Overall, the market sentiments for Anhydrous Hydrofluoric Acid in the Asia Pacific region remained suppressed throughout the quarter. This market development is primarily attributed to the restricted consumption from the downstream industries. Most downstream facilities were on a temporary turnaround ahead of the Lunar New Year holidays in China, followed by slower operational rates due to the Winter Olympics. In addition, the resurgence of COVID in China further worsened the situation, and the demand was further suppressed. As a ripple effect, the FOB Shenzhen discussions for Anhydrous Hydrofluoric Acid were settled at USD 1756 per tonne in March 2022.
Europe
In the first quarter of 2022, Europe's Anhydrous Hydrofluoric Acid market observed a significantupward trajectory. Several analyses showcased that Europe imported Hydrofluoric Acid and then exported it. The Suez Canal authorities doubled the taxes, leading to an additional cost to the quotation in the European market. In addition, the conflict that erupted in the eastern European region led to strong resistance from the European Union. The domestic players were reluctant to procure the Russian cargoes, effectively driving the producer's quotations upward.
