For the Quarter Ending March 2022
North America
In the first quarter of 2022, North America saw an upward trend in the price of Hydrobromic Acid ranging around USD 2340/ton CFR Illinois in USA in the month of February. The prices of Hydrobromic Acid continuously increased in the North American domestic market on the back of the rising export taxes. The fluctuating costs of upstream Liquid Bromine accelerated the Hydrobromic Acid prices in the region. The escalating offtakes from the end-user pharmaceutical and agrochemical industries are gyrating the demand for Hydrobromic Acid in the market. Amidst the increasing use of Hydrobromic Acid and bromide solution in the medical industry, an appreciable surge in price was witnessed in the quarter ending March 2022.
Asia Pacific
In Asia, the price of Hydrobromic acid was observed to be moving forward in an upward trajectory with its cost ranging around USD 6800/ton FOB Shanghai in China. With China being a major importer of upstream raw material, Bromine saw a surge in the prices in the beginning of the quarter due to disrupted freight charges. In India, the Hydrobromic Acid market appeared to be bullish, backed by the robust demand and tightened supplies. The Indian authorities have been consistently increasing import duties and generating revenue for a long time now. A significant rise in the feedstock bromine prices directly boosted the values of Hydrobromic Acid in this quarter ending March 2022.
Europe
During Q1, 2022 Europe experienced an increase in price as an effect of the alteration in the raw material prices such as bromine due to Russian invasion in Ukraine with prices ranging around USD 2480/ton FOB Rotterdam in Netherlands in the month of March. Rising demand from downstream corrosives, consumer electronics and mechanical machinery sector has been a reason for surging the prices of Hydrobromic Acid. Moreover, the soaring energy prices in the effect of the natural gas crisis whizzed the production cost across the European region, which also influenced the pricing trend of Hydrobromic Acid. Increased freight charges and shortages of shipping containers sent ripples to Hydrobromic values in the quarter ending March 2022.
For the Quarter Ending December 2021
North America
During the fourth quarter of 2021, the prices of Hydrobromic Acid experienced a steep trajectory in the North American region in effect of the hike in the raw material prices such as Bromine. In US, the demand outlook of continued to be buoyant throughout the quarter backed by the sturdy offtakes from Pharma, Agrochemicals, along with other end use industries. Despite the relaxation in the freight charges, Hydrobromic Acid offers remain strong however, in December a modest decline in prices was observed due to lull trade activities in the year end. Moreover, lower imports from China also sent ripples to the prices of Hydrobromic Acid in this timeframe.
Asia
In Asia, the prices of Hydrobromic Acid witnessed mixed sentiments varied from country to country during the fourth quarter of 2021. In the Chinese market, fluctuations in Hydrobromic Acid values were seen in Q4 depending upon the demand and supply dynamics. In November, Hydrobromic Acid prices rose effectively backed by ample offtakes from the downstream PET manufacturers while in December HBr Acid discussions tumbled down due to lower buying sentiments and lull trade activities owing to year end. In India, Hydrobromic Acid market appeared to be bullish backed by the robust demand and tightened supplies. A significant rise in the feedstock bromine prices directly boosted the values of Hydrobromic Acid in this quarter. Moreover, the domestic offers stay raised as local manufacturers kept the quotations high to safeguard their profit margins. Thus, Hydrobromic Acid 48% Ex Kolkata prices jumped from USD 2085.37/MT to USD 2423.56/MT in the timeframe of October to December.
Europe
In Europe, the pricing trend of Hydrobromic Acid experienced an upward trajectory in back of the spike in the raw material Bromine prices and firm demand from downstream industries including pharmaceuticals, agrochemicals, etc. Moreover, the soaring energy prices in effect of natural gas crisis whizzed the production cost across the European region that also influenced to the pricing trend of Hydrobromic Acid. Moreover, increased freight charges and shortages of shipping containers sent ripples to Hydrobromic values in this quarte
For the Quarter Ending September 2021
North America
During the third Quarter of 2021, Hydrobromic Acid market in the North American region experienced mixed sentiments. At the beginning of the quarter prices remained stable followed by the sufficient supplies of the feedstock and adequate inventories in the region. However, in the mid of the quarter, after the occurrence of climate calamity in US Gulf Coast (USGC) the values of Hydrobromic Acid shot up. Many manufacturers in the gulf coast of US were compelled to shut down their production facilities as a repercussion of Ida hurricane that made landfall at the August end. Consequently, effected the production activities during that period and hence, led to the spike in the prices of Hydrobromic Acid during the quarter.
Asia
In Asia, Hydrobromic Acid prices witnessed an exponential rise during the third quarter of 2021 backed by the spike in the values of feedstock and sturdy demand from the downstream industries. In China, a steep climb in the value of Hydrobromic Acid was observed backed by various factors including constraint availability of feedstock because of supply chain disruption backed by congestion on the several ports of China and due to the impact of Ida hurricane in USA. Additionally, the lower production rates followed by power outages in China also sent ripples to the prices of Hydrobromic Acid. Similarly, in India Hydrobromic Acid market sentiments remained firm throughout the quarter due to the sturdy demand from the downstream sectors. In addition, high freight charges and shortages of shipping container further influenced the prices of Hydrobromic acid in the region. Ex-Depot Mumbai, Hydrobromic Acid (48%) prices settled at USD 1921.51 per MT in September.
Europe
In Q3 2021, Hydrobromic Acid market witnessed an upward rally during the third quarter of 2021 backed by the sturdy demand from the domestic as well as the overseas market. In addition, lower production rates due to the natural gas crisis also sent ripples to the prices of Hydrobromic Acid in the region. Moreover, exorbitant freight costs and the limited availability of shipping containers also contributed to the inflation in the prices of Hydrobromic acid during this quarter. The demand for Hydrobromic Acid from the downstream pharmaceuticals and other industries continued to be firm throughout the quarter across Europe during Q3 2021.
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.
