For the Quarter Ending September 2025
APAC
• In China, the Dicyandiamide Price Index fell by 1.03% quarter-over-quarter, driven by modest supply improvements.
• The average Dicyandiamide price for the quarter was approximately USD 1448.33/MT from FOB Qingdao transactions.
• Dicyandiamide Spot Price fluctuations mirrored regional methanol feedstock movements, keeping the Price Index under pressure.
• Dicyandiamide Production Cost Trend showed slight easing as feedstock costs softened and factory margins compressed.
• Dicyandiamide Demand Outlook remains tepid with downstream fertilizer and resin demand growth failing to accelerate.
• Dicyandiamide Price Forecast points to limited term upside without stronger export demand or feedstock tightening.
• Qingdao inventory levels remained elevated, weighing on the Dicyandiamide Price Index and limiting spot rallies.
• Operational stability at key Chinese producers sustained supply, moderating volatility in the Dicyandiamide Price Index.
Why did the price of Dicyandiamide change in September 2025 in APAC?
• Sustained factory operating rates increased available volumes, exerting downward pressure on Dicyandiamide and Price Index.
• Soft market demand from fertilizers and resins limited offtake, reducing spot bids and pressuring prices.
• Moderate feedstock cost relief marginally lowered production costs, but logistics and export sluggishness constrained recovery.
North America
• The Price Index for Dicyandiamide in North America remained fluctuating throughout Q3 2025, largely influenced by downstream demand from adhesives, fertilizers, epoxy curing agents, and chemical intermediates. The Dicyandiamide Spot Price experienced minor increases in July and August, followed by a moderate decline in September.
• Why did the price trend in September 2025 Change: Prices decreased in September 2025 due to easing supply constraints, stable raw material costs, and a temporary slowdown in industrial consumption.
• Production Cost Trend: The Dicyandiamide Production Cost Trend remained steady, with energy and raw material costs largely unchanged over the quarter.
• Demand Outlook: The Dicyandiamide Demand Outlook points to a gradual recovery in Q4 2025, driven by the construction and automotive sectors. The Dicyandiamide Price Forecast suggests stable-to-moderate upward adjustments if demand strengthens.
Europe
• The Price Index for Dicyandiamide in Europe exhibited fluctuating trends throughout Q3 2025, supported by usage in epoxy curing, adhesives, fertilizers, and coatings. The Dicyandiamide Spot Price showed slight increases in July and August, with marginal stability in September.
•Why did the price trend in September 2025 Change?
• Prices increased slightly in September 2025 due to a rise in demand from the construction and automotive sectors, combined with modest increases in raw material costs.
• Production Cost Trend: The Dicyandiamide Production Cost Trend saw moderate upward pressure from higher energy costs affecting European manufacturing facilities.
• Demand Outlook: The Dicyandiamide Demand Outlook for Q4 2025 remains positive, with steady demand from industrial coatings and adhesives. The Dicyandiamide Price Forecast indicates stable prices with potential upward adjustments if industrial activity strengthens.
