For the Quarter Ending September 2022
The prices of upstream feedstock, Magnesite, and Hydrochloric Acid affected the market sentiments, impacting the regional trade. Freight charges were observed to be declined sharply on the Asia-US routes during the third quarter, which resulted in ample availability of products in the international market. The stable demand from the downstream industry has been met with ample supply. The prices were observed to rise and assessed at USD 535/ton Magnesium Chloride FOB Texas USA, and consumption became more.
The prices of Magnesium Chloride increased slightly in the Asian market during the third quarter of 2022. According to the manufacturer's quotation, the cost of upstream hydrochloric acid on the domestic market rose slightly. The fertilizer manufacturers were enthusiastic about buying raw material hydrochloric acid, which positively impacted the price of products. The news on the demand side led to a significant increase in purchase inquiries and transactions. The demand from downstream pharmaceutical and paper manufacturing markets also widened with growing consumption in the regional Chinese market. The prices ranged at USD 160/ton of Magnesium Chloride FOB Shanghai in China during August.
The prices of Magnesium Chloride fluctuated during the third quarter of 2022 in the European market. A decline in China's export volume due to port congestion affected Magnesium-dependent products, including pharmaceuticals and fertilizers market in the European region. As a result of escalating demand from downstream pharmaceuticals and fertilizers industries, product prices rose in Italy. This led to a decrease in inventories and a lower number of products stockpiling with the traders and suppliers in the region. The freight charges vary according to the global Crude Oil market's along with the easing availability of shipping containers which impacted the prices of Magnesium Chloride. As shipping rates dropped during the middle of the quarter, consumers' expenses lowered, and backlogs of suppliers were cleared, which helped the queues at ports to ease down towards the end of the quarter. The prices ranged from USD 550-570/ton in the Netherlands.
For the Quarter Ending June 2022
The US market saw a surge in Magnesium Chloride prices in the North American region, with prices observed to be hovering around USD 525.00/ton of Magnesium Chloride (FOB Texas) during June with a quarterly surge of 1.9%. Price volatility of feedstock, fluctuating demand from downstream medicinal, coating, and textile market, and shortage of shipments due to transportation problems supported the price. Supply chain value disruption was one of the major causes of the cost rise in the European Union. This led to lower inventories and fewer products to be stockpiled with the traders and the suppliers in the region.
The prices of Magnesium Chloride surged in the Asian market during the second quarter, with prices observed to be hovering around INR 5210.00/ton of Magnesium Chloride Ex-Ahmedabad in the Indian market during April with a quarterly escalation of 1.3%. The increased prices of upstream feedstock Magnesium and Liquid Chlorine in the Asian market supported the upward price trend. The surge in the downstream agricultural and medicinal market demand pulled the prices in an upward direction. Varying global freight charges due to the ongoing war between Russia and Ukraine was one of the reasons for the costs to escalate. Magnesium is widely used in alloys, which increases the industry's growth and fuels price increases through increased demand.
Magnesium Chloride prices escalated in the European market, hovering around USD 546.00/ton of Magnesium Chloride CFR Milan and a quarterly surge of 0.7% during May per Chem Analyst pricing team data. This upward push is notably more significant while searching the complete area route from April to June 2022. The spot prices of Magnesium boosted in the Netherlands market. Due to the highly-priced utilization of light-weight substances, precedence is given to sports to lessen charges through growing new implications and the affordability of producing assignments. The freight prices fluctuated due to the ongoing war between Russia and Ukraine, which also led to logistical constraints.