For the Quarter Ending September 2025
North America
• In the United States, the Argon Price Index rose quarter-over-quarter in Q3 2025, driven by rising production costs and strengthening demand.
• Argon production costs increased due to a 3.0% year-over-year rise in CPI in September 2025 and surging industrial electricity prices.
• The Producer Price Index increased 2.6% year-over-year in August 2025, indicating higher input costs for Argon producers and consuming industries.
• Argon demand outlook was mixed; industrial production grew only 0.1% year-over-year in September 2025, suggesting subdued overall industrial activity.
• However, demand for electronic components strengthened in Q3 2025, supported by accelerating reshoring activity in the electronics sector.
• Strong retail sales, up 5.42% year-over-year in September 2025, indirectly supported manufacturing activity and Argon consumption.
• Consumer confidence declined to 94.2 in September 2025, potentially dampening future manufacturing output and Argon demand.
• The U.S. goods and services trade deficit narrowed in August 2025, reflecting shifts in trade flows impacting industrial output.
Why did the price of Argon change in September 2025 in North America?
• Production costs rose due to a 3.0% year-over-year CPI increase in September 2025 and elevated industrial electricity prices.
• Demand was supported by strengthening electronic components demand in Q3 2025, despite slow industrial production growth.
• The 2.6% year-over-year PPI increase in August 2025 indicated rising input costs for both Argon producers and key consuming sectors.
APAC
• In China, the Argon Price Index fell in Q3 2025, influenced by deflationary pressures and a contracting Manufacturing Index.
• Argon production costs remained stable in Q3 2025, supported by stable industrial electricity and moderating natural gas prices.
• Argon demand outlook remains robust, driven by 6.5% industrial production growth in September 2025 and surging automotive exports.
• High-tech manufacturing industrial output strengthened in Q3 2025, contributing to steady Argon consumption.
• China's CPI fell 0.3% and PPI by 2.3% year-on-year in September 2025, reflecting broader deflationary conditions.
• A contracting Manufacturing Index in September 2025 indicated reduced industrial activity, impacting Argon demand.
• Consumer confidence at 89.6 and 5.2% unemployment in September 2025 suggested cautious spending, affecting industrial output.
• Weakened property market activity in the construction sector during Q3 2025 tempered overall industrial gas demand.
Why did the price of Argon change in September 2025 in APAC?
• Deflationary pressures, with CPI falling 0.3% and PPI 2.3% in September 2025, impacted pricing.
• Contracting Manufacturing Index in September 2025 indicated reduced industrial activity, dampening Argon demand.
• Despite robust industrial production, cautious consumer confidence at 89.6 contributed to a challenging pricing environment.
Europe
• In Germany, the Argon Price Index fell quarter-over-quarter in Q3 2025, driven by weakened industrial demand and lower costs.
• Argon production costs decreased in Q3 2025, due to easing electricity and natural gas prices for industrial producers.
• Argon demand outlook remains subdued as German industrial production declined 1.0% in September 2025.
• The Manufacturing Index showed a contracting trend in Q3 2025, indicating reduced activity in key Argon-consuming sectors.
• European industrial gas demand weakened in Q3 2025, reflecting softer industrial activity and declining new orders.
• The Producer Price Index decreased 1.7% year-over-year in September 2025, reducing input costs for Argon producers.
• Consumer Price Index rose 2.4% year-over-year in September 2025, indicating general inflation affecting operational expenses.
• Regional industrial gas supply was impacted by a major production shutdown in Q3 2025, affecting market availability.
Why did the price of Argon change in September 2025 in Europe?
• Weakened industrial activity, with German industrial production declining 1.0% in September 2025, reduced Argon demand.
• Lower production costs, as the Producer Price Index fell 1.7% in September 2025 and energy prices eased.
• A major regional industrial gas production shutdown in Q3 2025 impacted overall Argon supply.