For the Quarter Ending March 2025
North America
The U.S. Dinitrochlorobenzene (DNCB) market experienced fluctuating pricing trends throughout Q1 2025, reflecting complex interactions between supply chain disruptions, industrial demand variability, and international trade pressures. January began with softer pricing conditions, as the market dealt with high inventory levels and subdued downstream activity. Ample availability from overseas suppliers, especially in Asia, and competitive offers kept procurement cautious. Meanwhile, low freight rates and stable supply further encouraged buyers to delay purchases in anticipation of potential cost benefits, resulting in a relatively quiet trading environment.
In February, the pricing dynamic shifted as trade-related uncertainties and upstream cost pressures took hold. A 10% tariff on Chinese imports altered cost structures for U.S. buyers, while delays in shipments from key production hubs created a perception of tightening supply. As a result, procurement activity picked up, with some buyers opting for short-term inventory coverage. Higher raw material prices and stronger chemical sector activity contributed to a more active market environment, with prices moving in response to elevated input costs and logistical challenges.
March saw renewed pricing fluctuations, driven by persistent oversupply and easing global logistics. Despite earlier inventory drawdowns, the re-emergence of competitive export offers—particularly from India and China—alongside falling freight rates, pressured market sentiment. The chemical manufacturing sector showed signs of contraction, as reflected in a declining U.S. Manufacturing PMI, contributing to a cautious demand outlook. Buyers returned to conservative purchasing strategies, focusing on existing stock and minimizing exposure to further volatility.
Overall, the U.S. Dinitrochlorobenzene market in Q1 2025 was characterized by shifting price patterns shaped by global supply conditions, tariff-related cost changes, and variable demand from downstream industrial segments. These fluctuations reflected broader trends in trade policy, logistics, and production economics across the specialty chemical sector.
Asia Pacific
In Q1 2025, the Indian Dinitrochlorobenzene (DNCB) market experienced a dynamic pricing trend, characterized by an initial decline followed by consecutive price increases in February and March. January saw prices fall due to weak demand from downstream sectors including pharmaceuticals, agrochemicals, and chemicals. High inventory levels and steady production kept supply abundant, while slowing input cost inflation allowed for pricing corrections. Additionally, muted international interest amid geopolitical uncertainties contributed to subdued export activity and reinforced the downward pricing trend.
In contrast, February marked a shift to bullish sentiment. Supply constraints, driven by slower manufacturing activity and reduced inventories, led to upward price pressure. A depreciating Indian Rupee increased raw material import costs, further elevating production expenses. Robust demand from the pharmaceutical and healthcare sectors, along with improved export competitiveness due to currency weakness, prompted manufacturers to adjust pricing strategies, contributing to a marginal price rise.
By March, the market registered a notable price escalation. Limited inventory, rising Nitric Acid costs, and lingering trade policy uncertainties tightened supply conditions. Concurrently, strengthening demand from pharmaceuticals and improved domestic manufacturing activity—reflected in a multi-month high PMI—sustained bullish momentum. Currency appreciation and rising input costs reinforced cost pass-through to buyers, driving prices higher across the board.
Europe
In Q1 2025, the Spanish Dinitrochlorobenzene (DNCB) market experienced a sharp reversal in price dynamics, beginning with a decline in January followed by successive increases in February and March. Prices dropped early in the quarter amid widespread economic uncertainty and inflationary pressure across the Eurozone. Spain, in particular, saw weakened consumer sentiment and reduced purchasing inclination, as buyers adopted a cautious stance and delayed procurement in anticipation of potential market corrections. The uptick in energy costs and restrained industrial activity contributed to suppressed demand and a softer pricing environment.
February marked a notable turnaround, as inventory shortages and robust downstream demand exerted upward pressure on prices. The Euro’s depreciation against the US Dollar increased import costs, while higher DNCB prices in key exporting countries like India further intensified cost inflation. Despite some relief from declining freight rates, these gains were eclipsed by persistent supply constraints and strong offtake from pharmaceutical, dye, and agrochemical sectors, which underpinned the price surge.
March continued the bullish momentum, driven by increased export prices from China—Spain’s primary supplier—and ongoing currency volatility. A strengthening domestic economy and easing inflation supported steady demand, especially from essential sectors such as pharmaceuticals and healthcare. These conditions collectively sustained the upward price trajectory across the quarter.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. market for Dinitrochlorobenzene experienced a downward trend in prices, influenced by a combination of economic challenges and weakened demand. The anticipation of the presidential election, paired with inflationary concerns, dampened consumer confidence, leading to more conservative spending and reduced corporate investments. This decline in overall demand, particularly in industries such as pharmaceuticals, and healthcare, pressured businesses to lower prices to remain competitive. External factors, including natural disasters and labor strikes, also disrupted the market and limited any significant price increases.
As the quarter progressed into November, demand remained subdued, and the strengthening U.S. dollar helped reduce the cost of imports, which stabilized supply levels. The easing of logistical issues, particularly after the resolution of a major labor strike, further contributed to cost reductions, allowing suppliers to offer more competitive pricing. By December, the continuation of low consumer confidence and weakened demand during the holiday period, compounded by ongoing inflation, further pushed prices downward. Anticipated tariffs and preemptive stockpiling by businesses in preparation for potential disruptions also contributed to the reduction in prices. In response to these market pressures, suppliers made pricing adjustments, leading to a consistent decline in prices throughout the quarter.
In summary, Q4 2024 was characterized by steady price reductions in the Dinitrochlorobenzene market, driven primarily by economic uncertainty, weakened demand across key sectors, and favorable currency exchange rates, alongside logistical improvements.
Asia Pacific
In Q4 2024, Dinitrochlorobenzene prices in India followed a downward trajectory, influenced by a mix of economic challenges and logistical constraints. October saw a slight decline, largely driven by rising inflation, which reached 6.21%, diminishing consumer purchasing power and dampening demand. The Reserve Bank of India’s continued high repo rate of 6.5% further suppressed spending. Global logistics disruptions, including a strike on the U.S. East Coast, exacerbated difficulties for exporters, contributing to the price drop. In November, the decline continued as weak demand from key sectors like healthcare and pharmaceuticals, coupled with persistent inflationary pressures, further suppressed the market. Reduced manufacturing activity and intensifying competition led producers to lower prices to stay competitive. By December, the market conditions remained weak, driven by slower manufacturing growth and fewer new business orders. Easing raw material costs helped reinforce the downward price trend. Although international orders grew, the pace was slower than expected, and improving supply chain conditions brought some stability to prices. Overall, the quarter reflected a combination of reduced demand, high inflation, and strategic price cuts aimed at adapting to challenging market conditions.
Europe
In Q4 2024, the Dinitrochlorobenzene market in Spain saw notable price fluctuations, driven by a combination of demand-supply dynamics and broader economic influences. October experienced a price decline, primarily due to softening demand amid inflation concerns, coupled with a significant drop in shipping costs, which resulted in sufficient supply levels. In November, prices rebounded, supported by rising demand from critical sectors such as dyes, pesticides, and pharmaceuticals, along with improved consumer sentiment. However, the depreciation of the euro against the US dollar added upward pressure on import costs, contributing to further price increases. By December, prices fell again, mainly due to weakened demand from industries like healthcare and pharmaceuticals. Cautious market behavior, coupled with high inventory levels, further drove prices down. Economic uncertainty, combined with the negative effects of winter weather on logistics and consumer spending, caused delays and dampened purchasing activity. Overall, Q4 was marked by price volatility, with inflation, currency fluctuations, and supply chain disruptions playing key roles in shaping the market. By the end of the quarter, the price settled at USD 1480/MT for 2,4-Dinitrochlorobenzene (DNCB) CFR Barcelona in Spain.
For the Quarter Ending September 2024
North America
Throughout Q3 2024, the North American market for Dinitrochlorobenzene exhibited a fluctuating trajectory, with initial price increases eventually yielding to declines as the quarter unfolded. In July, prices rose due to several influential factors. A significant contributor was the improved consumer optimism regarding business conditions, which fostered a positive outlook and supported higher Dinitrochlorobenzene prices. Additionally, supply chain disruptions caused by blank sailings—stemming from ships being rerouted around the Cape of Good Hope (COGH) due to severe port congestion in both Asia and North America—also played a role in the initial price increase.
However, the market landscape shifted dramatically in August and September, marked by a significant drop in demand at the fastest rate observed in recent months. In response to this declining demand, many market participants began to reduce prices to stimulate sales, further accelerating the downward trend for Dinitrochlorobenzene.
Compounding these challenges was a notable decrease in inflation, primarily driven by falling energy prices, which alleviated business overhead costs. This favorable environment enabled companies to lower prices for consumers, contributing to the overall decline in Dinitrochlorobenzene costs. Within the USA, the market experienced the most pronounced fluctuations in pricing.
Asia Pacific
In Q3 2024, the APAC region witnessed a fluctuating trend in Dinitrochlorobenzene pricing, marked by initial increases followed by notable declines. Early in the quarter, prices rose due to a combination of strong business sentiment and escalating production costs. India's manufacturing sector showed remarkable growth, highlighted by one of the fastest expansions in international sales. Although there was a slight slowdown in new orders and output, the sector continued to flourish, driven by robust demand from various global markets, including Asia, Europe, North America, and the Middle East. This heightened international demand placed significant upward pressure on prices. However, as the quarter progressed into August and September, Dinitrochlorobenzene prices began to decline markedly. This shift was primarily due to a reduction in new business and orders, influenced by changing consumer preferences and increased competition among manufacturers. As a result, demand growth moderated, prompting firms to lower their prices. Additionally, export growth reached its slowest pace since April, indicating weak global demand and reinforcing the downward trend in prices. By the end of the quarter, the price for 2,4-Dinitrochlorobenzene (DNCB) Ex-Mumbai stood at USD 108,500/MT.
Europe
Throughout Q3 2024, the European market for Dinitrochlorobenzene exhibited a mixed pricing trend, with Spain being the region most significantly impacted. In July, prices experienced an uptick, fueled by positive consumer sentiment and heightened purchasing activity. This increase coincided with peak seasonal demand, further intensified by ongoing capacity constraints and logistical challenges, particularly those stemming from congestion in the Red Sea, which significantly affected shipping costs and spot rates. However, the trend shifted in August and September as several key factors converged to exert downward pressure on prices. The overall economic landscape in Europe faced challenges that weakened consumer sentiment and resulted in a decline in domestic demand for various products, including Dinitrochlorobenzene. Additionally, a notable decrease in inflation rates, along with lower energy prices and favorable base effects, alleviated pricing pressures. These developments led to reduced costs for imported Dinitrochlorobenzene, prompting suppliers to adjust their prices downward. By the end of the quarter, the price settled at USD 1,500/MT for 2,4-Dinitrochlorobenzene (DNCB) CFR Barcelona in Spain, reflecting a prevailing sentiment of decreasing prices within the market.
For the Quarter Ending June 2024
North America
In Q2 2024, Dinitrochlorobenzene pricing in North America experienced a mixed trajectory, reflecting diverse market dynamics. The quarter saw an initial increase in prices, followed by a mid-period decline, and a subsequent rise towards the end.
In April, prices rose due to a surge in domestic demand. Consumers, undeterred by cost fatigue, displayed a willingness to spend, leading to stronger retail sales and a higher demand for Dinitrochlorobenzene. However, prices fell in the middle of the quarter as demand softened. The decrease in new orders and a contracting order backlog indicated a gradual economic slowdown. Additionally, the Federal Reserve's decision to maintain high interest rates, aimed at stabilizing inflation, inadvertently eroded consumer purchasing power, adding pressure to prices. Prices rebounded in June due to increased cargo import volumes at U.S. ports. Retailers ramped up stock levels to meet rising demand, especially as they approached the peak shipping season. This boost in import activity contributed to the upward trajectory in prices.
Overall, the quarter demonstrated a varied pricing environment for Dinitrochlorobenzene in the USA region, marked by initial increases, a mid-period decline, and a final recovery.
APAC
During Q2 2024, the pricing landscape for Dinitrochlorobenzene (DNCB) in the APAC region has experienced a mixed trajectory. The prices increased in April influenced by a confluence of factors. Across the manufacturing sector, a sustained growth trajectory was observed, with manufacturers noting robust demand for their products both domestically and globally. This surge in demand was particularly pronounced across diverse regions spanning Asia, Africa, Europe, the Americas, and West Asia, significantly bolstering the upward momentum of prices. However, prices declined in May and June due to reduced new orders and logistical challenges, particularly in the export sector, led to an oversupply within the domestic market. Economic indicators pointed to easing inflationary pressures, notably a drop in fuel costs, which translated to reduced operational expenses for companies and subsequently lower product prices. Additionally, the ongoing geopolitical instability in key regions disrupted supply chains, contributing to heightened market volatility. Despite a robust start to the year, the manufacturing sector faced headwinds due to reduced working hours amid severe heatwaves, leading to a slowdown in output. This, in conjunction with logistical hurdles exacerbated by geopolitical tensions, further strained the market. The quarter-ending price for 2,4-Dinitrochlorobenzene (DNCB) Ex-Mumbai in India stood at USD 110500/MT.
Europe
In Q2 2024, the pricing landscape for Dinitrochlorobenzene in Europe demonstrated a mixed trend influenced by various economic factors. In April, prices rose as the economy showed signs of improvement and consumer spending increased, driving up demand for Dinitrochlorobenzene. This uptick in demand pushed prices higher. However, in May, prices declined due to a combination of factors. Companies faced dissatisfaction with business conditions, attributed to a lack of effective demand in the domestic market. Persistent inflationary pressures and high interest rates led to restrained consumer expenditure, with many sectors adopting a cautious "wait and see" approach. Additionally, currency appreciation reduced import costs for Dinitrochlorobenzene, further contributing to the price decline. By June, prices rebounded as consumer sentiment improved for the fourth consecutive month, boosting domestic demand. The brighter economic outlook in Europe, particularly in its largest economy, supported the upward movement in prices. Overall, the quarter's pricing for Dinitrochlorobenzene in Europe was characterized by initial increases, a mid-period decline, and a recovery towards the end of the quarter.
Europe
The first quarter of 2024 has been a period of fluctuating prices for Dinitrochlorobenzene (DNCB) in the European market. The market has experienced significant factors that have influenced prices during this period. In Spain, the pricing trends for DNCB have been particularly noteworthy. The market has seen a surge in prices in January, signaling a positive start to the year. This increase in prices can be attributed to increased demand and dwindling supplies. However, prices have declined in February, mainly due to lower demand from downstream industries and a weakened overall market sentiment. Moreover, the decision by the central bank to maintain interest rates at their current levels exacerbated strain on consumers, constraining their purchasing power and perpetuating a subdued demand environment. Although, prices increased in March, due to the improving business outlook in the Spanish market played a pivotal role, stimulating demand for various commodities, including Dinitrochlorobenzene. Industry stakeholders have leveraged these favorable market conditions to set higher prices, taking advantage of the existing demand-supply disparity. Overall, the pricing environment for DNCB in the European market during the first quarter of 2024 can be described as unstable. The market has been influenced by a combination of supply and demand factors, as well as geopolitical tensions and currency fluctuations. The latest quarter-ending price for DNCB in Spain is USD 1420/MT CFR Barcelona.
