For the Quarter Ending June 2025
North America
• The Hydrochloric Acid (HCl) spot price in North America declined by 3.8% quarter-over-quarter in Q2 2025, settling in the U.S. market at USD 350/MT DEL USGC by the end of June.
• Moderate supply levels and weak upstream cost support—due to declining liquid chlorine prices—contributed to a subdued pricing environment.
• Temporary maintenance shutdowns at U.S. facilities and flooding-related disruptions in Mexico were offset by adequate inventories, ensuring consistent material availability.
• Downstream demand from the steel and automotive sectors remained stable, coupled with steady consumption from the downstream market.
• Tariff-related uncertainty and conservative procurement behavior among buyers limited bulk transactions, keeping HCl consumption moderate across end-use industries.
Why did the price of Hydrochloric Acid change in July 2025 in the North American region?
• In July 2025, the Hydrochloric Acid Price Index in North America showed upward movement, driven by increased demand from pre-hurricane season stockpiling activities across the region.
• The Hydrochloric Acid Supply Chain Outlook reflected concerns over potential weather disruptions.
• The Hydrochloric Acid Price Forecast indicates continued firmness in the near term, supported by precautionary buying behavior and potential logistical challenges.
APAC
• The Hydrochloric Acid (HCl) spot price in APAC fluctuated throughout Q2 2025, with Indonesia closing the quarter at USD 228/MT CFR Jakarta, reflecting a net quarterly increase of 0.88%.
• In Indonesia, prices declined by 2.16% in April and 1.33% in May due to weak feedstock liquid chlorine values, stable imports from Japan, and sluggish demand, before rebounding by 2.24% in June on cost-driven price hikes and logistical disruptions.
• Supply across the region remained adequate, supported by steady production and import flows, although regional shutdowns in Japan and China, along with Tropical Storm Wutip in June, briefly strained availability.
• Port congestion worsened due to strikes in Japan, container shortages stemming from the US–China tariff reprieve, and severe weather events, especially impacting intra-Asia trade lanes.
• Demand in Indonesia remained subdued in April and May amid weak steel output and plunging car sales but saw modest recovery in June, aided by improving automotive sector fundamentals.
Why did the price of Hydrochloric Acid change in July 2025 in the APAC region?
• In July 2025, the Hydrochloric Acid Price Index in the APAC region experienced upward momentum, supported by improving demand from downstream sectors following the conclusion of the 90-day tariff mute period.
• The Hydrochloric Acid Production Cost Trend remained elevated, with rising input costs contributing to sustained pricing pressure.
• The Hydrochloric Acid Price Forecast points to a bullish outlook in the near term, driven by recovering demand and continued cost-side support.
Europe
• The Hydrochloric Acid (HCl) spot price in Europe, specifically in the German market, rose by 2.35% quarter-over-quarter in Q2 2025, settling at USD 174/MT FOB Hamburg in June.
• In Germany, prices climbed by 3.66% in April and 2.35% in May amid persistent port congestion, constrained chlor-alkali production, and unfavorable currency dynamics, before stabilizing in June due to improved supply and steady downstream demand.
• Supply remained moderately tight through much of the quarter, as Eurochlor reported declining European chlorine production, with outages, strikes, and low Rhine water levels affecting logistics across Northern Europe.
• June saw logistical relief in Germany, despite regional spillover effects from a national strike in Belgium, which disrupted operations at key ports like Antwerp and Rotterdam.
• Demand remained consistent throughout the water treatment and steel sectors, though automotive and construction activity stayed weak; sentiment improved slightly in June, supported by gradual recovery signals in housing and industrial activity.
Why did the price of Hydrochloric Acid change in July 2025 in the European region?
• In July 2025, the Hydrochloric Acid Price Index in the European region saw upward movement, supported by increased industrial activity during the summer season that lifted demand levels.
• The Hydrochloric Acid Distribution Cost Trend showed a rise due to escalating transportation expenses, contributing to higher overall market prices.
• The Hydrochloric Acid Price Forecast indicates a moderately bullish outlook, driven by seasonal industrial demand and sustained logistics-related cost pressure.
MEA
• The Hydrochloric Acid (HCl) spot price in the Middle East and Africa (MEA), specifically in the UAE market, rose by 4.95% quarter-over-quarter in Q2 2025, reaching USD 127/MT CFR Jebel Ali by June.
• In the UAE, prices edged up by 0.83% in April amid tight inventories and disrupted imports; May saw a sharper 3.31% surge due to festive demand, infrastructure growth, and firmer Saudi import prices; in June, prices rose a further 1.60%, supported by elevated freight rates and resilient downstream demand.
• Supply remained moderately tight throughout the quarter, with steady domestic production and consistent imports, despite regional logistics disruptions caused by the Red Sea crisis and the Iran-Israel conflict impacting maritime corridors.
• Logistics operations in the UAE remained largely stable, especially at Jebel Ali Port, though increased shipment costs and risk premiums added upward pressure on landed costs, particularly in June.
• Demand remained firm, driven by seasonal sanitation and water treatment needs, strong real estate and infrastructure activity in Dubai, and growing steel production following anti-dumping duties on imported steel tubes in Saudi Arabia.
Why did the price of Hydrochloric Acid change in July 2025 in the MEA region?
• In July 2025, the Hydrochloric Acid Price Index in the MEA region strengthened, supported by strong downstream restocking activity amid ongoing regional supply constraints.
• The Hydrochloric Acid Supply Trend was impacted by post-Hajj supply restrictions and elevated consumption during the pilgrimage period, reducing overall product availability.
• The Hydrochloric Acid Price Forecast suggests continued firmness, driven by supply-side limitations and sustained demand from key end-use sectors.
South America
• The Hydrochloric Acid (HCl) spot price in South America declined by 1.07% in Q2 2025, with Brazil settling at USD 431/MT DDP Cubatão by the end of June.
• Ample inventory levels and reduced production costs supported robust supply, while port congestion and customs officer strike in Brazil created intermittent logistical disruptions.
• Feedstock Liquid Chlorine prices remained largely stable throughout the quarter, limiting cost-push pressure despite slight downturn in domestic manufacturing.
• Demand from the steel and automotive sectors remained moderate, constrained by declining vehicle output and weaker wire rod exports.
• Stable construction activity and steady crude steel production partially supported HCl consumption, though overall market momentum remained subdued.
Why did the price of Hydrochloric Acid change in July 2025 in the South American region?
• In July 2025, the Hydrochloric Acid Price Index in the South American region moved upward, supported by a rise in new orders during the peak seasonal demand period.
• The Hydrochloric Acid Production Cost Trend reflected increased pressure from higher feedstock prices, contributing to elevated manufacturing costs.
• The Hydrochloric Acid Price Forecast suggests continued upward momentum, driven by strong demand fundamentals and sustained cost-side support.
For the Quarter Ending March 2025
North America
The hydrochloric acid (HCl) market in North America displayed a strong bullish trend in Q1 2025, driven by a combination of tight supply conditions and consistent demand. In January, supply constraints, worsened by manufacturing slowdowns, trade tariff concerns, and weather-related shutdowns at major production facilities, led to significant price increases. Despite mixed construction sector performance, steady demand from the steel manufacturing industry provided further support for higher prices.
The upward momentum continued in February, with supply-side disruptions intensifying due to force majeure events at key producers like Vestolit and Olin Corporation. Despite the ongoing challenges, the manufacturing sector-maintained growth, and strong demand from the steel industry, particularly in motor vehicle and parts production, contributed to the price rally.
By March, HCl prices remained high, supported by continued supply limitations, rising chemical producer prices, and a resilient demand base from sectors like steel and municipal utilities. The combination of constrained domestic supply, limited imports, and global trade uncertainties further reinforced the price surge. Overall, the first quarter experienced consistent upward pressure on HCl prices, with the U.S. market witnessing a 12.8% increase during this period.
Europe
In Q1 2025, the Hydrochloric Acid (HCl) market in Europe experienced a generally bullish trend, especially in March. January and February saw stable prices due to tight supply and subdued demand, while March witnessed a notable price increase driven by improved demand and ongoing disruptions in supply chains. In January, prices remained steady as European demand for HCl was limited, primarily due to weak consumption in the steel sector, impacted by high energy costs and increased competition from low-cost imports. Supply conditions remained tight in Northwest Europe, influenced by a strike at Vencorex’s Pont de Claix facility in France and reduced chlor-alkali production in late 2024. Despite the end of the strike, supply improvements were minimal, contributing to market tightness. In February, prices held steady as the supply situation remained manageable, although port congestion in major European hubs like Hamburg and Bremerhaven caused logistical delays, affecting cargo movements. Demand remained subdued, particularly from the steel sector, which continued to face weak domestic consumption. By March, however, the market turned bullish. The European Union's new trade protection measures on steel imports from overseas reduced competition and boosted local production, increasing the demand for HCl. Additionally, logistical issues persisted, with severe congestion at Northern European ports further constraining supply and supporting higher prices. By Quarter's end, prices were higher, price in Germany reached at USD 164/MT FOB Hamburg, reflecting the strengthened demand for locally produced HCl.
APAC
In Q1 2025, Hydrochloric Acid (HCl) prices in the APAC region experienced a bullish trend, driven by supply constraints and sustained demand across key sectors. In January, prices rose significantly due to limited imports, as availability was tight, pushing procurement costs higher. Demand from the steel and automotive sectors supported this price surge, driven by increased steel production and growth in automotive sales. By February, prices stabilized as supply remained moderate and inventories ample, with procurement activity slowing amidst cautious buying sentiment. However, the global recovery in steel production and economic resurgence in key markets maintained a balanced market environment. In March, prices increased once again, fueled by continued supply tightness. Limited inventory, a reduction in overseas imports, and logistical delays, including port congestion and a maintenance shutdown at a major facility, further tightened supply chains. Despite these challenges, demand remained robust, particularly from the automotive and steel industries, ensuring steady consumption of HCl. In the APAC region, the South Korean market experienced notable fluctuations, with prices increasing by 5.6% during the quarter, reaching USD 196/MT CFR Seoul.
South America
In Q1 2025, hydrochloric acid (HCl) prices in South America demonstrated a bullish trend, with consistent increases across January, February, and March. In January, tight supply conditions, exacerbated by North American market challenges, drove prices up. The slowdown in Canada's manufacturing sector, coupled with trade uncertainties and looming U.S. tariffs, added pressure to the supply chain. Meanwhile, steady demand from the steel sector, bolstered by a rise in crude steel production, supported the price surge. February saw further upward momentum, with supply constraints tightening due to disruptions in North America, and logistical bottlenecks at major ports in Latin America. The market was further impacted by force majeure declarations and increased production costs. Despite uncertainties in the steel sector, steady demand from food and pharmaceutical industries provided support. In March, a significant price hike was observed, as logistical disruptions continued to strain supply chains. Strong growth in the steel sector, fueled by increased production and exports, ensured robust demand for HCl. Despite slower manufacturing growth due to high interest rates and currency depreciation, HCl prices rose sharply as supply remained constrained.
MEA
In Q1 2025, the Hydrochloric Acid (HCl) market in the MEA region experienced a consistent bullish price trend, with prices rising each month due to various supply and demand factors. In January, prices increased significantly, driven by pre-Ramadan stocking activities and heightened industrial demand, particularly from the steel sector. Although maintenance shutdowns had limited supply in the prior month, stable domestic production and robust steel output in helped maintain market this price trend. In February, prices continued to rise due to constrained supply, further exacerbated by manufacturers adjusting operations for Ramadan, which led to reduced production and logistical challenges. Strong demand, particularly from both domestic and export markets, kept procurement high. By March, HCl prices rose again, propelled by seasonal production slowdowns during Ramadan and Eid, combined with continued strong demand from both domestic steel production and seasonal consumption. Despite some production declines, the industrial and steel sectors remained steady, supporting price stability. In the MEA region, the Saudi Arabian market saw significant fluctuations, with prices rising by 8.5% over the quarter, reaching USD 105/MT Ex-Riyadh by the end of the period.
For the Quarter Ending December 2024
North America
In Q4 2024, Hydrochloric Acid (HCl) prices in the North American market followed an upward trajectory, starting with stable levels early in the quarter. During this phase, prices saw minimal fluctuations, as moderate demand balanced out with consistent supply. However, by mid-quarter, an observable shift began, with prices rising due to growing logistical challenges and tightening supply conditions. Increased transportation issues, including port congestion, and rising production costs, created upward pressure on HCl prices.
As the quarter progressed, particularly in the later stages, the price trend became more pronounced, fueled by persistent supply chain disruptions and higher production costs. Limited inventory levels, coupled with increased tariffs on overseas imports, compounded the supply issues, pushing prices even higher. The market saw a notable increase in prices during this period, driven by the continued strain on domestic supply and the persistent rise in operational costs.
By the end of the quarter, HCl prices had surged by approximately 3.0% particularly in the US market, reflecting the cumulative impact of these supply and cost pressures, marking a strong upward trend in the North American market throughout Q4.
Germany
In Q4 2024, the European Hydrochloric Acid (HCl) market experienced a notable upward price trend driven by several key factors. Tight supply conditions were prevalent throughout the quarter, with limited feedstock availability and disruptions in production due to reduced output in the chlor-alkali sector. Logistical challenges, including port congestion and labor shortages, further exacerbated the situation, resulting in longer lead times for deliveries. Despite these supply constraints, demand for HCl remained moderate, with the steel manufacturing sector showing inconsistent purchasing behavior. The water treatment sector also saw lower demand due to seasonal factors. Additionally, inflation in the Eurozone added upward pressure to HCl prices, as cost pressures in production continued to rise. As the quarter progressed, logistical disruptions, particularly in December, intensified the price hike, with extended vessel delays and holiday-related closures impacting the supply chain. By the end of December, HCl prices in Germany reached USD 158/MT FOB Hamburg, reflecting a 1.28% increase. This price surge marked a clear response to supply-side pressures and broader market dynamics.
South America
The Hydrochloric Acid (HCl) market in South America exhibited a rising trend throughout Q4 2024. In the early quarter, prices remained stable, supported by sufficient imports and moderate downstream demand, particularly from the steel manufacturing sector. However, global logistical disruptions, such as port delays and rising container rates, began creating supply uncertainties. By mid-quarters, prices showed an upward trajectory as import costs increased due to higher production expenses in exporting regions. These costs were driven by surging feedstock prices and inflationary pressures. Demand from downstream sectors, including steel, continued to grow, adding further pressure to the market. Supply chain challenges, including reduced availability of imports, exacerbated the rising price trend. In the later quarter, South American HCl market experienced a significant price increase due to constrained imports from overseas market, worsened by trade disputes and tariffs. Strong demand from the domestic steel and automotive sectors further intensified supply shortages. As a result, HCl prices in Brazil rose by 3.23%, reaching USD 224/MT Ex-Works Cubatão, reflecting a bullish market close for the year.
Saudi Arabia
The overall trend for Hydrochloric Acid (HCl) prices in the Middle East during Q4 2024 was mixed, with fluctuations observed throughout the quarter. These price movements were influenced by varying supply chain challenges, regional economic factors, and shifts in demand across key industries. In the early quarter, HCl prices saw an upward trend, driven by logistical challenges and regional tensions that disrupted supply chains. However, demand remained moderate, especially from the steel sector, which experienced limited growth due to reduced production. In the mid-quarter, prices faced a significant decline. This was largely due to oversupplied in the market, supported by ample inventory levels and subdued demand from the steel sector, which continued to show sluggish activity. The economic slowdown further added to the pressure on prices. By the end of the quarter, prices rebounded, the rise was driven by constrained supply conditions, low inventory levels, and maintenance shutdowns at production facilities, while demand remained stable from industries such as mining and construction. Price increased by 3.23% particularly in Saudi Arabia and reached toto USD 96/MT Ex-Riyadh.
APAC
In Q4 2024, the APAC region experienced a mixed trend in Hydrochloric Acid (HCl) prices, with fluctuations primarily driven by regional supply-demand dynamics and economic factors. Early in the quarter, prices remained steady due to stable feedstock costs and moderate demand, especially from sectors such as textiles, water treatment, and metal processing. While consumption remained relatively balanced, the steel manufacturing industry showed subdued activity, limiting price movements. The mid-quarter, however, saw a noticeable upward shift in prices as demand from the steel and industrial sectors picked up. Tight supply conditions, worsened by logistical disruptions and shipping delays caused by Typhoon Kong-Rey, further exacerbated the price increase. As production struggled to meet rising demand, supply constraints intensified, driving prices higher. By the end of the quarter, HCl prices in Japan surged, primarily due to limited inventory, rising production costs, and steady demand from downstream industries. This price increase underscored the impact of constrained supply and a strong recovery in industrial demand in key sectors, particularly steel manufacturing. During the period, Japan experienced a major fluctuation, with prices rising by 6.11%, reaching USD 139/MT FOB Tokyo.
For the Quarter Ending September 2024
North America
In Q3 2024, the North American Hydrochloric Acid (HCl) market experienced a notable rise in prices, particularly in the USA. Initially, the quarter saw robust demand, positively influencing market prices. However, as the quarter progressed, several key factors began to impact pricing dynamics. Production disruptions and supply chain challenges, primarily due to hurricanes, resulted in significantly low inventory levels, which in turn prompted price increases. Port Congestion and shutdowns at critical manufacturing facilities hindered the flow of goods to the market.
Additionally, the downstream demand, especially from the steel sector, remained subdued, creating a limited demand environment characterized by moderate to low activity. When comparing prices, HCl experienced a 1% increase from the previous quarter. Furthermore, year-on-year, prices surged by 17%, indicating a strong upward trajectory.
By the end of the quarter, Hydrochloric Acid was priced at USD 160/MT Ex-Works USGC, highlighting the persistent upward pricing trend in the region. This trend underscores the challenges faced by the market in navigating supply disruptions while addressing fluctuating demand levels.
APAC
In Q3 2024, the APAC region saw a significant decline in Hydrochloric Acid (HCl) prices, primarily due to weak demand from downstream steel manufacturing industries and a sluggish construction sector. However, key sectors such as textiles, metal processing, and water treatment, which typically rely on HCl, reported moderate consumption levels. This dip in demand in major industries contributed to bearish market sentiment, where expectations for recovery diminished. Concurrently, chlor-alkali production in the region remained robust, leading to an oversupply of HCl. High production rates ensured that inventory levels were ample, further intensifying the downward pressure on prices. Producers faced the challenge of balancing supply with the weakened demand; consequently, many were compelled to lower prices to stimulate sales. China emerged as a notable player in this trend, experiencing a substantial price decline of 13.5% compared to the previous quarter. This drop highlighted the regional impact of diminished consumption coupled with excessive inventory. As a result, the overall pricing trajectory for HCl reflected a consistent downward trend.
Europe
In Q3 2024, the Hydrochloric Acid (HCl) market in Europe exhibited a mixed pricing trend. During the initial months of the quarter, prices remained elevated, primarily due to strong demand from downstream sectors. However, limited availability of feedstock chlorine necessitated adjustments in manufacturing processes, resulting in increased production costs. Additionally, production disruptions, including plant shutdowns in certain regions, further altered the supply dynamics. As the quarter progressed into its middle weeks, a noticeable decline in prices began. This downturn was largely influenced by a slowdown in industrial production across the EU and eurozone, which adversely affected the demand for HCl. Notably, France experienced significant price fluctuations, with prices rising by 15% compared to the previous quarter. When compared to the same quarter from the previous year, prices in France surged by 34%. By the end of the quarter, the price for HCl in France reached USD 184/MT CFR Le Havre, underscoring the overall fluctuating pricing sentiment and the complex interplay of supply and demand factors in the region.
MEA
In Q3 2024, the Middle East and Africa (MEA) region saw a significant rise in Hydrochloric Acid (HCl) prices, influenced by several critical factors. Strong demand from downstream industries, particularly in steel and construction, played a crucial role in driving prices higher. This surge in demand was bolstered by favorable economic indicators, including increased steel production and a robust pipeline of construction projects, which collectively fostered bullish market sentiment. In Saudi Arabia, the market experienced the most pronounced price shifts, with a notable 9% increase compared to the previous quarter. This price surge can be attributed to heightened demand from the steel sector and increased industrial activity. Despite encountering challenges such as labor shortages and fluctuating shipping costs, the overall pricing environment remained optimistic. However, when comparing this quarter to the same period last year, the price change was modest at just 0.7%. The quarter concluded with HCl priced at USD 100/MT Ex-Riyadh, reinforcing the upward pricing trend observed throughout Q3 2024 and indicating a resilient market despite existing challenges.
South America
In Q3 2024, the South American region experienced a notable increase in Hydrochloric Acid prices, particularly in Brazil, where the most significant price fluctuations occurred. The market dynamics were heavily influenced by supply disruptions, including operational halts caused by severe weather events such as flooding, which resulted in low inventory levels and logistical challenges. These supply constraints, combined with strong demand from key industries like steel manufacturing, drove prices higher. The interplay between diminished supply and robust demand fostered a bullish pricing environment, reflecting positive market sentiment. In Brazil, Hydrochloric Acid prices rose steadily throughout the quarter, indicating a consistent upward trend. The quarter saw a 1% increase compared to the previous quarter, with the latter half of Q3 performing better than the first half, suggesting strengthening market conditions. Year-on-year comparisons revealed a significant 17% rise in prices. The quarter concluded with Hydrochloric Acid priced at USD 211/MT Ex-Works Cubatão, highlighting a substantial increase from the same period last year.
FAQs
1. Why did Hydrochloric Acid prices rise in North America in July 2025?
• Pre-hurricane stockpiling activity increased demand.
• Concerns over weather-related logistics further supported pricing.
2. What factors influenced July 2025 HCl prices in South America?
• Peak seasonal demand and higher feedstock prices increased production costs.
• The forecast points to continued upward pressure in the near term.
3. Which industries are driving Hydrochloric Acid demand in Q2 2025?
Major demand drivers include:
- Steel manufacturing
- Automotive production
- Water treatment
- Construction and real estate
4. What is the short-term global outlook for Hydrochloric Acid prices?
The outlook is moderately bullish in most regions, driven by:
- Seasonal restocking activity
- Rising freight and feedstock costs
- Persistent logistical disruptions and strong end-use demand
