For the Quarter Ending September 2025
North America
• In United States, Coal Tar Pitch(CTP) Price Index rose in Q3 2025, driven by rising production costs and robust industrial demand.
• Production costs increased due to 3.0% CPI in September and 2.6% PPI in August 2025, alongside higher natural gas prices.
• Demand strengthened from aluminum and construction sectors, supported by a 0.1% industrial production increase in September 2025.
• Robust retail sales, up 5.42% in September 2025, and a 4.3% unemployment rate supported overall economic activity.
• Despite consumer confidence declining to 94.2 in September 2025, key industrial sectors maintained demand for Coal Tar Pitch.
• Electric power coal inventories tightened in Q3 2025 due to rising demand, affecting feedstock availability.
• US aluminum imports from Canada significantly decreased in Q3 2025 due to escalated tariffs, influencing domestic supply.
• The Coal Tar Pitch price forecast suggests continued upward pressure, supported by sustained industrial activity and rising input costs.
Why did the price of Coal Tar Pitch change in September 2025 in North America?
• Rising production costs, evidenced by 3.0% CPI (September) and 2.6% PPI (August 2025).
• Strengthened demand from aluminum and construction, supported by 0.1% industrial production (September 2025).
• Increased industrial natural gas prices in Q3 2025, with tightening electric power coal inventories.
APAC
• In China, the Coal Tar Pitch Price Index fell quarter-over-quarter in Q3 2025, influenced by deflationary pressures.
• The Coal Tar Pitch demand outlook is mixed, with strengthening aluminum production contrasting weakened crude steel output.
• Industrial Production expanded by 6.5% year-on-year in September 2025, supporting overall industrial material demand.
• Retail Sales increased by 3.0% year-on-year in September 2025, indicating robust consumer spending indirectly boosting demand.
• The Manufacturing Index was contracting in September 2025, signaling a slowdown in overall industrial sector activity.
• Consumer Price Index (CPI) decreased by 0.3% year-on-year in September 2025, reflecting broad deflationary pressures.
• Producer Price Index (PPI) fell by 2.3% year-on-year in September 2025, indicating weak industrial demand and oversupply.
• Active aluminum operating capacity increased by September 2025, providing some support for Coal Tar Pitch consumption.
• Government policy constrained primary aluminum production capacity in mid-2025, impacting overall supply dynamics.
• The Coal Tar Pitch price forecast suggests continued pressure due to persistent deflationary trends and mixed industrial signals.
Why did the price of Coal Tar Pitch change in September 2025 in APAC?
• Deflationary pressures, with CPI falling 0.3% and PPI decreasing 2.3% year-on-year in September 2025.
• Manufacturing Index contracting in September 2025, signaling reduced industrial activity and demand for raw materials.
• Weakened crude steel output in Q3 2025, despite strengthened aluminum production, created mixed demand signals.
Europe
• In Germany, the Coal Tar Pitch Price Index fell quarter-over-quarter in Q3 2025, driven by contracting industrial activity.
• Coal Tar Pitch production costs were pressured by a 1.7% decline in producer prices in September 2025, despite rising CPI of 2.4%.
• Overall industrial production declined 1.0% in September 2025, indicating weakened demand for raw materials like CTP.
• Demand from the aluminum sector for Coal Tar Pitch showed a rising trend in Q3 2025, offering some market support.
• Coking coal prices experienced a moderate decline in Q3 2025, contributing to lower feedstock costs for CTP production.
• The Manufacturing Index trended Contracting in Q3 2025, signaling reduced new orders and industrial output.
• European steel production continued to decline in 2025, impacting Coal Tar Pitch supply as a coke byproduct.
• The Coal Tar Pitch price forecast remains cautious due to persistent industrial weakness, despite specific demand pockets.
• Retail sales rose 0.2% in September 2025, indirectly suggesting some stability in consumer-driven sectors.
Why did the price of Coal Tar Pitch change in September 2025 in Europe?
• Industrial production declined 1.0% in September 2025, reducing overall demand for CTP.
• Producer prices fell 1.7% in September 2025, lowering CTP production costs despite rising CPI.
• Contracting Manufacturing Index and declining steel output impacted byproduct supply and demand.
