For the Quarter Ending June 2021
North America
Hydrobromic Acid demand remained effectively stable throughout the quarter in North America, supported by significant offtakes from the downstream sectors. Despite of the stable-to-firm demand from the consuming sectors in USA, price fluctuations remained fairly low and the overall price trend maintained stability during this period. On the other hand, feedstock Bromine prices were firm due to limited availability in USA. Demand stability in Hydrobromic Acid has also been translated into stable pricing in the region. In addition, a significant number of cargoes were exported from the US to India, majorly to inorganic salt manufacturers during this quarter.
Asia
The Asian market witnessed stable demand for Hydrobromic Acid, during this quarter, backed by improved economic activities and booming pharmaceutical sectors. In China, demand remained modest to high from the downstream pharma and inorganic salt manufacturers. While in India, despite of the dented demand from the downstream organic salt manufacturers as an effect of the second wave of pandemic in the country, imports remained voluminous. In addition, around 1307 MT of Hydrobromic Acid was imported by India during this quarter, where most of the cargoes were received from the Middle Eastern countries.
Europe
Hydrobromic Acid demand remained stable to firm in Europe during this quarter, backed by recovering economies post the pandemic. On the demand side, pharmaceutical sector remained the centre of overall demand for Hydrobromic Acid across the region, followed by organic and inorganic salt manufacturers. In addition, flame retardant sector was also recovering in the meantime, though the demand was not effective enough to provide buoyancy to the prices. Therefore, the demand for Hydrobromic Acid remained stagnant throughout the quarter across Europe during Q2 2021.
For the Quarter Ending March 2021
North America
During Q1 2021, demand for Hydrobromic Acid remained in a narrow range as downstream industries effectively reduced their operations across the region. The reason behind this fall in production activity was low availability of raw materials followed by the aftereffects of the winter storm during February in the Gulf of USA. Meanwhile, the imports of feedstock Bromine from other countries remained low due to critical weather conditions.
Asia
In the Asian market, prices of Hydrobromic Acid fluctuated effectively with lower availability and demand from downstream industries. During this quarter, in the Indian market prices of feedstock Bromine generally surge due to low availability of Brine solution. With ease in winter conditions, February onwards prices showed stability in its value and started falling in March, when the inventories picked up adequate level. Similar scenario was observed with Chinese market where 1.65% rise in bromine prices led HBr prices to rise marginally, which finally settled down at USD 1910/MT during March 2021.
Europe
Europe witnessed feeble demand for Hydrobromic Acid, post sudden surge in COVID 19 cases which slowed down the industrial activities of the region. Amidst low demand and slow production rate, procurement of raw materials was also a big issue for traders, as the trading activities were curtailed by the unfavourable weather conditions. In addition, demand from Zinc Bromide sector was reduced as the European automotive industry followed slow recovery.
For the Quarter Ending December 2020
Asia
In Q4 of 2020 the market sentiments for Hydrobromic Acid remained mixed throughout the quarter amidst its stagnated demand and scarce availability. In October 2020, the demand of hydrobromic remained low due to the large number of stocks available. However, traders remained optimistic that the Asian Hydrobromic market will revive in the upcoming days due to cold weather. As per market expectations, the demand for hydrobromic acid from November 2020 to December 2020 witnessed upward trajectory due to less availability of brine solution which is a feedstock for hydrobromic acid. The CFR JNPT prices for Hydrobromic Acid for quarter ending December 2020 average at USD 1693.57 per MT.
Europe
Europe is amongst a major contributor in the Hydrobromic Acid industry following Asia Pacific and North America. In the European region, prices of Hydrobromic Acid increased slightly from the beginning of Q4 as the price of brine solution which is a feedstock in the Hydrobromic Acid were also high due to its scarce availability in the winter season. Since Hydrobromic acid is used in automotive industry too, which is already an established sector in Europe thus demand of Hydrobromic Acid is expected to gradually pick up the pace with revival in the economy.
North America
In North America, US is a major manufacturer of the hydrobromic acid. Fluctuation in the prices of the brine solution in the US due to winter season, directly impacted the prices of Hydrobromic Acid across North America. Amidst increasing use of Hydrobromic Acid and bromide solution in medical industry an appreciable was witnessed in the quarter ending December 2020. And they do not have any alternate in the market thus consumers are forced to buy it at high price.
