For the Quarter Ending December 2022
In the domestic market of the USA, the weaker demand from the downstream surfactant and detergent industries has weighed on market sentiment. The prices of Nonylphenol Ethoxylates plummeted in the fourth quarter of 2022. At major ports, the congestion has decreased, and vessel utilization is at low levels. The drop in price realizations of Nonylphenol Ethoxylates was aided by a fall in freight costs throughout Asia and overseas markets. Furthermore, the buildup of inventories due to limited procurement from the end-use industries has imposed downside risks on the market fundamentals of Nonylphenol Ethoxylates. The ChemAnalyst database has shown that Nonylphenol Ethoxylates 9.5 mole FOB Gulf Coast prices concluded at USD 2412 per ton at the end of the fourth quarter.
The prices of Nonylphenol Ethoxylates have remained on the lower end throughout the fourth quarter of 2022. The epidemic situation in China has reduced the production and purchasing sentiments of the detergent and surfactant industries. The cost support from upstream raw materials was also insufficient to cause any major price fluctuation. Transportation and logistics have been hampered amid the implementation of the Zero Covid Policy in the domestic region. The prices of Crude oil have also weakened in the second half and impacted the operational costs of Nonylphenol Ethoxylates. Furthermore, in December, the destocking season further prompted the traders to clear off the inventories. Prices of Nonylphenol Ethoxylate 9.5 mole FOB Qingdao were settled at USD 2834 per ton in Q4-end.
The drop in procurement from the downstream surfactant and detergent industries has crippled the market growth of Nonylphenol Ethoxylates in the German market. The continued inflationary pressures and burgeoning energy costs have weakened the market sentiments. The inventory levels have escalated, increasing the supply pressure. The purchase from the downstream market was also insufficient and couldn't support the positive developments in the Nonylphenol Ethoxylates' costs. Furthermore, the TTF natural gas prices decreased in December, but the operating rates of manufacturing firms have remained under pressure amid subdued terminal demand. Consequently, Nonylphenol Ethoxylates 9.5 mole FOB Hamburg prices were assessed at USD 2200 per ton in December.
For the Quarter Ending September 2022
The price trend of Nonylphenol Ethoxylates has demonstrated mixed sentiments throughout the third quarter. The NPE prices have first declined and then improved owing to fluctuations in raw material prices. The upstream Ethylene Oxide has also remained fluctuating in the US market, prompting average cost support to the price fundamentals of NPE. The operating rates of downstream surfactant and detergent industries were regular and active offtakes have been observed. The ample availability of upstream Palm Oil in the exporting country has led to improved import offers. In addition, the inflationary pressure has battered the purchasing power of the downstream consumer, inflicting the traders to incline toward a cheaper spot market. Thus, Nonylphenol Ethoxylates FOB Gulf Coast averaged at USD 2475 per tonne in the Q3-end.
Nonylphenol Ethoxylates (NPE) prices have consistently dropped throughout the third quarter of 2022 in China. The purchases and sales from downstream surfactant and detergent industries were limited. The purchasing manager index has also slipped below 50 against the backdrop of reduced offtakes from the end-use industries. The overflowing inventories of upstream Palm oil have reduced the manufacturer's quotations. The upstream crude oil prices also edged lower, deteriorating the domestic region's market sentiments for Nonylphenol Ethoxylates. The extensive heat waves and resurgence of covid cases have weighed on the factory activities. However, towards the quarter end, the market players have reported that the regular operation rate of manufacturing firms has been adequate to cater to the demand from the end-user industries. Therefore, in September, Nonylphenol Ethoxylate 9.5 mole FOB Qingdao prices were settled at USD 3283 per ton.
In the German market, the prices of Nonylphenol Ethoxylates dropped in early Q3 and then escalated later. The cost support from upstream Ethylene Oxide and Fatty Alcohol were average. However, the rising costs of Natural gas amidst the curtailed supply from Russia have impacted the manufacturing costs of the downstream detergent and surfactant sector on an extensive term. In September, the inflation rate escalated to 10%, deteriorating the buying sentiments of the end user sector. The spiraling energy costs have prompted recession fears among manufacturers. In addition, the port congestion at Felix Stowe amid the worker strike has pressured the supply fundamentals of Nonylphenol Ethoxylates. Prices of Nonylphenol Ethoxylates FOB Hamburg were assessed at USD 2245 per tonne at quarter-end.
For the Quarter Ending March 2022
Nonyl Phenol Ethoxylates prices in the United States have witnessed strong market sentiments throughout Q1 in response to the higher Ethylene Oxide feedstock prices and outstretching demand. The curtailed operations in ExxonMobil’s Baytown refinery following an explosion in late December have continued to create a supply deficiency of upstream olefins and consequently caused its prices to gain significant numbers. The high upstream pricing, which got transferred to its downstream Ethylene Oxide, weighed on the input cost of Nonylphenol Ethoxylates. Prompting the manufacturers for a price increase, thus, the Nonylphenol Ethoxylates US discussions reached USD 1923/MT FOB Gulf Coast in the quarter ending March 2022.
In Asia, the prices of Nonylphenol Ethoxylates have witnessed an increment of 9% in the first quarter of 2022. Increased stockpiling activities with suspended Chinese Nonylphenol imports on account of the Chinese New Year Holiday break in early February have made its price skyrocket in the Indian domestic market, followed by the global shortage. Increased input costs with strong feedstock Ethylene Oxide and Phenol market added to the upward price trajectory in the Asian market. Also, increased application of personal care products kept the demand high from the downstream surfactant sector, causing the Indian prices of Nonylphenol Ethoxylates to soar in March to USD 2330/MT Ex-Kashipur. On the other hand, with declining buying sentiments and high inventory levels, the Chinese NPE prices slipped from USD 3528/MT in January to USD 3347/MT FOB Qingdao in March.
The European Nonylphenol Ethoxylates market has experienced a bullish pricing trend during Q1 of 2022. This uphill curve owed to the worsening economic crisis against the backdrop of the Russia-Ukrainian conflict. PCC group (Poland), a key exporter, fell short of raw material procurement from Russia because of restricted freight movements associated with the war in the entire region. Hence, the tight product supplies from Poland impacted the Nonylphenol Ethoxylates regional market and the downstream cleaning industry. Additionally, dueling with the supply challenges and inflationary pressure of bullish raw material market has brought about the German prices of NPE as USD 1993/MT FOB Hamburg in March.
For the Quarter Ending December 2021
The North American Nonylphenol Ethoxylates market showed a sharp surge in prices during October and November on account of an unabated rise in ethylene oxide and phenol raw material costs at a global level. Additionally, the hindrances in logistic movements restricted raw material availability thereby curtailing production load and inducing tightness in supply dynamics of Nonylphenol Ethoxylates. The dispatch processes to local downstream industries also took a hit as trucks availability remained critically low during the starting weeks of the quarter. A consistent pull from the downstream surfactant industry raised manufacturers’ sentiments for keeping their contracts firm. However, the ease down in the upstream market along with improving port activities capped the gaining pace of Nonylphenol Ethoxylates prices which averaged out at USD 1774/MT FOB Gulf Coast in the last month of the quarter.
Prices of Nonylphenol Ethoxylates in Asia continued an upward rally pushed by the firmness in the upstream costs. Amid the raging demand from downstream surfactant industry, the manufacturers in China remained under pressure as they stood helplessly bound by the government’s “Dual Control Policy” that forced them to run productions at curtailed rates. The lingering global logistical barriers along with additional blockages at Chinese ports owing to its zero-covid policies restrained the timely supply of raw materials, further adding to the manufacturers’ miseries. Amid the widening demand-supply gap the Nonylphenol Ethoxylates prices in China settled at USD 3502/MT FOB Qingdao during December. India, during the initial month of the quarter, was also witnessed dueling with the supply challenges and inflationary pressure of bullish raw material market as the offers for Nonylphenol Ethoxylates underwent upward revisions by traders who wanted to safeguard their margin. However, with relaxing freight movements, the traders quickly resorted to stockpiling activity which decreased the country’s dependency on imported volumes whose consistency remained uncertain. Hence, slipping on the downside, the prices of Nonylphenol Ethoxylates in India hovered around USD 1965/MT Ex-Kashipur during December.
The prices of Nonylphenol Ethoxylates in Europe climbed up effectively in Q4-2021, on the back of inadequate raw material availability and soaring energy prices that exerted immense pressure on the input costs. The spot trading had also turned sour as the logistic delays and soaring freight did not go in favour of the market. Meanwhile, the demand in the surfactant sector continued striding upwards with an increase in buying activities driven by panic from the rising Omicron cases. Though the demand fundamentals projected optimism throughout the quarter, a marginal relief in the Nonylphenol Ethoxylates prices, which were assessed as USD 1857/MT on FOB basis in Germany, had been observed during December in response to the gradually weakening raw material market with improving supply dynamics.