For the Quarter Ending December 2025
APAC
• In South Korea, the H Acid Price Index rose by 2.53% quarter-over-quarter, driven by tighter availability.
• The average H Acid price for the quarter was approximately USD 5263.33/MT, reflecting balanced supply.
• H Acid Spot Price firmed late December as Chinese exporters curtailed offers amid environmental inspections.
• H Acid Price Forecast indicates slight upside risk, limited by post-holiday destocking and freight rate uncertainty.
• H Acid Production Cost Trend rose as sulphuric acid and naphthalene costs increased conversion expenses.
• H Acid Demand Outlook remains weak amid cautious polyester and textile buying and reduced export momentum.
• H Acid Price Index movement mirrored balanced buying and constrained supply from curtailed Chinese production.
• Inventory rebuilds and year-end bookings tightened prompt availability, while later freight declines partially eased landed costs.
Why did the price of H Acid change in December 2025 in APAC?
• Chinese year-end environmental audits reduced export availability, tightening regional supply into South Korea and firming prices.
• Rising sulphuric acid and naphthalene input costs raised conversion expenses, exerting upward pressure on landed parity.
• Accelerated December bookings ahead of Lunar New Year and buyer restocking tightened availability despite subdued demand.
Europe
• In Belgium, the H Acid Price Index rose by 2.37% quarter-over-quarter, due to freight increases.
• The average H Acid price for the quarter was approximately USD 5335.00/MT, reflecting import reliance.
• Tight arrivals and higher freight lifted H Acid Spot Price, reducing immediate available spot volumes.
• Rising sulphuric acid and naphthalene costs pushed H Acid Production Cost Trend higher this quarter.
• Year-end logistics constraints tightened supply while H Acid Price Index showed firmness across Antwerp warehouses.
• Downstream softness kept H Acid Demand Outlook cautious, with polyester mills adopting strict just-in-time purchases.
• H Acid Price Forecast indicates mixed near-term moves, with alternating small rises and falls expected.
• Inventories and port congestion influenced timing, keeping H Acid Price Index sensitive to supply disruptions.
Why did the price of H Acid change in December 2025 in Europe?
• Supply constrained by reduced spot lots and port congestion, limiting H Acid arrivals into Antwerp.
• Higher sulphuric acid and naphthalene prices raised manufacturing costs, pressuring H Acid Price Index upward.
• Year-end restocking and limited container capacity prompted buying, tightening short-term availability despite muted downstream demand.
North America
• In USA, the H Acid Price Index rose by 1.79% quarter-over-quarter, reflecting modest cost-push pressure.
• The average H Acid price for the quarter was approximately USD 5319.67/MT, importers reported domestically.
• H Acid Spot Price remained muted as balanced imports and weak downstream buying limited activity.
• H Acid Price Forecast sees modest upside short-term as feedstock pressures combine with restocking demand.
• H Acid Production Cost Trend rose as naphthalene and sulphuric acid costs increased, pressuring margins.
• H Acid Demand Outlook remains subdued as polyester and textile mills maintain just-in-time procurement strategies.
• Inventory swings and year-end restocking influenced the H Acid Price Index, producing short-lived upward pressure.
• Operational constraints at key Chinese exporters and transpacific freight volatility supported stability amid tighter availability.
Why did the price of H Acid change in December 2025 in North America?
• Rising naphthalene and sulphuric acid input costs pushed up exporters' offers, increasing landed import prices.
• Transpacific freight increases and port congestion elevated logistics expenses, tightening effective supply to US distributors.
• Year-end restocking by dye blenders, plus constrained Chinese exports, briefly lifted demand and import prices.
For the Quarter Ending September 2025
North America
• In USA, the H Acid Price Index rose by 3.46% quarter-over-quarter, driven by feedstock and logistics.
• The average H Acid price for the quarter was approximately USD 5226.33/MT, based on CFR-Texas import observations.
• H Acid Spot Price movements reflected delayed shipments and port congestion, keeping the H Acid Price Index volatile.
• H Acid Production Cost Trend in China elevated due to Sulphuric Acid and naphthalene increases, pressuring margins.
• H Acid Demand Outlook remained weak domestically, with textile destocking and low polyester operating rates limiting purchases.
• H Acid Price Forecast shows modest near-term appreciation risk amid restocking and festival-related freight increases ahead.
• H Acid Price Index strength was supported by export shortages and cost-push despite subdued US terminal demand.
• Inventory accumulation and cautious buying suppressed spot liquidity, while Chinese plant shutdowns intermittently tightened available H Acid supply.
Why did the price of H Acid change in September 2025 in North America?
• Elevated feedstock and sulphuric acid costs in China increased landed import costs and pressured Price Index.
• Severe weather and port congestion delayed shipments, reducing supply reliability and tightening US import availability.
• Weak domestic textile demand and high downstream inventories constrained purchases, muting H Acid spot and contract offtakes.
APAC
• In South Korea, the H Acid Price Index rose by 4.9% quarter-over-quarter, reflecting cost-push supply constraints.
• The average H Acid price for the quarter was approximately USD 5133.33/MT, CFR-Busan trade-data referenced.
• H Acid Spot Price movements reflected tighter imports and logistical delays at Chinese export hubs.
• H Acid Price Forecast indicates moderate upside near-term risks due to elevated feedstock-driven cost pressures.
• H Acid Production Cost Trend strengthened as sulphuric acid and naphthalene prices rose sharply recently.
• H Acid Demand Outlook remains muted by low textile off-season activity and elevated finished-goods inventories.
• H Acid Price Index tightened after Chinese outages and weather disruptions constrained export volumes into Korea.
• Inventories and export demand shifts pressured spot offers, while traders sought clarity on H Acid Price Forecast assumptions.
• Regional logistics, port congestion, and elevated intra-Asian freight drove buyers to secure cargoes, supporting near-term Price Index.
Why did the price of H Acid change in September 2025 in APAC?
• Supply constraints from Chinese plant outages and flood-related disruptions reduced export volumes into APAC markets.
• Rising feedstock costs, notably sulphuric acid and naphthalene, increased landed costs and supported price gains.
• Logistics bottlenecks, port congestion, volatile intra-Asian freight elevated import costs; buyers accelerated precautionary short-term purchases.
Europe
• In Belgium, the H Acid Price Index rose by 5.11% quarter-over-quarter, reflecting supply tightness and feedstock costs.
• The average H Acid price for the quarter was approximately USD 5211.67/MT, CFR Antwerp basis.
• H Acid Spot Price tightened as CIF shipments from China delayed, while inventories remained elevated.
• The H Acid Price Forecast indicates volatility driven by freight rate swings and weather disruptions.
• H Acid Production Cost Trend increased due to higher naphthalene and sulphuric acid prices abroad.
• The H Acid Demand Outlook remains weak seasonally, with downstream textile and polyester restocking postponed.
• H Acid Price Index was influenced by port congestion, festival holidays and fluctuating shipping rates.
• Chinese plant outages and logistic bottlenecks tightened supply, supporting upward pressure on H Acid prices.
Why did the price of H Acid change in September 2025 in Europe?
• Supply bottlenecks from China, weather impacts and plant shutdowns reduced exports, increasing landed H Acid costs.
• Feedstock cost inflation, notably naphthalene and sulphuric acid, raised production costs for exporting manufacturers abroad.
• Weak European textile demand and high inventories curtailed buying, limiting price gains despite supply tightness.
For the Quarter Ending June 2025
North America
• H-Acid Price Index in North America declined by 2% quarter-on-quarter, ending at USD 5,078/MT CFR Texas. This decrease was largely attributed to lower export prices from China, amid sluggish procurement level.
• Why did the price of H-Acid change in July 2025 in the USA?
In early July 2025, H-Acid prices remained steady but under upward pressure due to extended delivery timelines, higher Chinese export prices, and a fragile supply chain. Although domestic demand remained sluggish, high feedstock costs and continued logistical disruptions kept overall pricing firm.
• The H-Acid Production Cost Trend remained elevated—driven by sharp increases in feedstock prices in China, including a 2.2% rise in Naphthalene and a 10% surge in Sulphuric Acid. Heavy flooding in China’s Hunan province and significant port congestion lengthened supplier delivery times and raised freight rates, all contributing to increased delivered costs in the U.S. market.
• H-Acid Demand Outlook weakened further, despite a rise in U.S. business and consumer confidence during June. Downstream textile and polyester segments remained muted, affected by hot weather, tariff concerns, and high fabric inventories. Import inquiries were largely limited to small lots, with bulk orders remaining rare.
• Export momentum of H-Acid from China to the U.S. remained weak during the quarter, as container volumes to the U.S. dropped by 28.3% year-on-year in June. Despite the temporary halt in U.S. tariffs, exporters were reluctant to engage in bulk trade amid uncertain policy environments and higher logistics costs.
• Domestic procurement in the USA stayed cautious, with textile converters avoiding large orders due to shrinking margins and high inventory levels. The polyester filament industry operated at low production and sales rates, further limiting upstream demand for H-Acid. A seasonal slowdown and adverse weather additionally weighed on trade sentiment.
Asia-Pacific (APAC)
• H-Acid Price Index in APAC decreased by 2% quarter-on-quarter, settling at USD 4,890/MT FOB Qingdao. However, a modest price uptick was driven by significant cost-push factors amid disrupted logistics and rising raw material prices during June, despite persistently low demand from the downstream textile and polyester sectors.
• Why did the price of H-Acid change in July 2025 in China?
In early July 2025, H-Acid prices remained under pressure, as terminal demand continued to lag due to high inventories, curtailed textile output, and seasonal lull following the Dragon Boat holiday. Meanwhile, persistent flooding and heatwaves in central China affected production stability and logistics, reinforcing cost-side constraints.
• The H-Acid Production Cost Trend remained elevated, feedstock prices saw steep hikes, with Naphthalene rising by 2.2% and Sulphuric Acid surging 10% in June 2025. Flooding in Hunan and port congestion at key hubs further exacerbated logistical bottlenecks, lengthening delivery timelines and increasing conversion costs.
• H-Acid Demand Outlook turned sluggish, as the dyes and polyester industries cut operating rates. The monsoon season, Dragon Boat Festival, and weak export sentiment in key regions, including the US and Europe, limited new trade inquiries. Buyers remained conservative, focusing on short-term replenishment only.
• Export momentum of H-Acid weakened during the quarter, with container volumes to the US from China falling by over 28% year-on-year in June, reflecting prolonged trade complexity and tariffs. Despite a mild increase in textile exports during May, overseas demand remained subdued amid tariff uncertainties and cautious sentiment.
• Domestic procurement in China’s key provinces, including Hunan and Guangdong, was disrupted by severe flooding, which affected both upstream and downstream activity. Weaving operation rates fell due to extreme heat, accumulating inventory in polyester and conventional fabrics, and weakening H-Acid trade volumes in both domestic and regional markets.
Europe
• H-Acid Price Index in Europe declined marginally by 2.3% quarter-on-quarter, ending at USD 4,985/MT CFR Antwerp, driven by weak downstream demand.
• Why did the price of H-Acid change in July 2025 in Europe?
In early July 2025, H-Acid prices in Europe held firm due to persistent cost-push pressures from upstream feedstocks and elevated freight rates from Asia. However, market activity was restrained as summer holiday demand lull, sluggish procurement, and high inventories limited purchasing activity across the region.
• The H-Acid Production Cost Trend remained elevated—with upstream Naphthalene and Sulphuric Acid prices in China rising by 2.2% and 10% respectively. Severe flooding in China’s central provinces and port congestion significantly lengthened lead times, while a 27.1% spike in freight rates from Asia to Europe in June added further cost layers to imported H-Acid.
• H-Acid Demand Outlook weakened across Europe, as downstream consumption slowed during the summer holiday season. Textile and polyester sectors remained under strain with low order volumes, reduced operating rates, and high inventories. Purchasing enthusiasm was dampened further by deteriorating consumer confidence and slowing industrial sentiment.
• Export momentum of H-Acid from China to Europe remained weak during the quarter, with China-origin container volumes to Belgium falling by 28.3% year-on-year in June 2025. Despite temporary pauses in U.S. tariff escalations, overall trade activity remained sluggish due to broader geopolitical tensions and rising transport costs.
• Domestic procurement in key regions of Europe declined, as buyers maintained conservative inventories amid a downturn in production and export activity. Hot weather and soft demand in the polyester and textile sectors continued to suppress new H-Acid inquiries, while high inventories of conventional fabrics weighed on restocking decisions.
For the Quarter Ending March 2025
North America
H Acid prices in the USA experienced a marginal decline during the first quarter of 2025 due to a slump in demand from the downstream textile sector. In January 2025, the softness in demand persisted despite the traditional seasonal restocking period. Moreover, increased competition among shipping carriers alleviated supply chain bottlenecks which made cheaper imports from China.
Several consumers showcased cautious procurement within the downstream textile industry, leading to reduced offtake of H acid in February 2025. Even with the onset of the traditional spring buying season, new orders for h acid remained subdued. This tepid demand was largely attributed to market uncertainty stemming from the imposition of tariffs, which negatively impacted consumer procurement in the domestic markets, creating a cautious buying environment. in March 2025.
Despite a downward trend in H acid prices throughout the first quarter of 2025 in the USA, the average price for this period registered a marginal increase of 1.3% when compared to the average price during the last quarter of 2024. This situation arises primarily due to a significant price drop experienced in October 2024 which considerably lowered the overall average price for the fourth quarter of 2024, making the slightly higher average price observed in the first quarter of 2025.
APAC
H acid prices in Asia experienced a marginal decline during the first quarter of 2025 due to a drop in demand from the downstream textile sector. A decline in the feedstock Naphthalene and Sulfuric acid prices has further lowered the manufacturing costs during January 2025. Several units were kept under maintenance shutdown including Jiangsu Jihua Chemical in Jiangsu and Zhejiang RIWA CHEMICALS during the second half of January 2025 to align with the low demand. The subdued demand observed in February was significantly influenced by the prevailing uncertainty surrounding potential US tariff impositions on Chinese imports. The market vendors report comfortable inventory levels, enabling them to fulfill orders with minimal delays. However, a significant surge in the costs of key feedstocks, including Naphthalene and Sulphuric Acid, provided substantial cost support to H acid manufacturers in China to counteract the downward pressure from low demand which led to maintaining stable H acid prices during March 2025 to settle at USD 4950/MT (FOB-Qingdao).
Europe
During the first quarter of 2025, H acid prices in Europe experienced a slight decline, primarily driven by weakened demand from the downstream azo dyes industry. This sluggishness was evident right from the start of the year in January 2025, even during the usual post-holiday inventory replenishment period. Adding to this downward pressure was the increased competition among shipping companies, which eased supply chain bottlenecks and paved the way for more affordable H-acid imports from China. As February unfolded, downstream textile consumers continued to exhibit a cautious approach to purchasing, leading to a reduced intake of H-acid. Even with the arrival of the traditional spring buying season in March, the anticipated surge in new orders for H-acid failed to materialize. This muted demand was largely a ripple effect of the market uncertainty generated by the imposition of tariffs, creating a hesitant buying climate and dampening consumer procurement throughout the quarter. As per ChemAnalyst, H acid prices in Belgium settled at USD 5059/MT, CFR-Antwerp during March 2025.
