Market Overview
For the Quarter Ending December 2025
Oleum Prices in North America
In United States, the Oleum Price Index rose quarter-over-quarter in Q4 2025, driven by surging feedstock costs and robust industrial activity.
Oleum production costs increased in Q4 2025, as elemental sulfur prices surged to a year's highest point in December 2025.
Rising natural gas spot prices in late 2025 and a 3.0% PPI increase in November 2025 elevated Oleum manufacturing expenses.
Oleum demand was supported by a 2.0% year-over-year increase in industrial production in December 2025.
Retail sales rose 3.3% year-over-year in November 2025, indirectly boosting Oleum demand for consumer goods applications.
North American fertilizer demand significantly declined in Q4 2025 due to poor grower economics and early winter weather.
General inflation, with CPI up 2.7% year-over-year in December 2025, elevated overall Oleum operational expenditures.
A 4.4% unemployment rate and 89.1 consumer confidence in December 2025 moderately supported indirect Oleum demand.
Why did the price of Oleum change in December 2025 in North America?
Elemental sulfur prices surged in December 2025, significantly increasing Oleum's primary feedstock cost.
Industrial production rose 2.0% year-over-year in December 2025, bolstering Oleum demand from manufacturing sectors.
A 3.0% year-over-year PPI increase in November 2025 reflected higher input costs for Oleum production.
Oleum Prices in Europe
In Germany, the Oleum Price Index fell quarter-over-quarter in Q4 2025, influenced by broad economic weakness.
Oleum production costs were influenced by persistent global sulfur supply tightness throughout Q4 2025.
European energy costs remained elevated in October 2025, impacting Oleum production expenses.
Oleum demand outlook was bearish due to a contracting Manufacturing Index in December 2025.
Consumer confidence in Germany was significantly negative at -17.5 in December 2025, dampening Oleum end-use demand.
Industrial production growth was sluggish at 0.8% year-over-year in October 2025, limiting Oleum consumption.
A low CPI of 1.8% in December 2025 indicated stable but not robust consumer demand for Oleum end-products.
Weak retail sales growth of 1.1% in November 2025 and 6.2% unemployment in December 2025 suppressed overall demand.
German chemical industry sentiment deteriorated sharply in October 2025, reflecting weak order volumes.
Why did the price of Oleum change in December 2025 in Europe?
A negative PPI of -2.5% in December 2025 indicated weak demand from downstream industries.
The Manufacturing Index contracted in December 2025, signaling reduced industrial activity.
Global sulfur supply remained tight in Q4 2025 due to force majeure events, impacting production costs.
Oleum Prices in APAC
In China, the Oleum Price Index rose quarter-over-quarter in Q4 2025, driven by robust industrial production growth.
Oleum production costs increased in December 2025 as purchasing prices for industrial producers inched up.
The Oleum demand outlook strengthened in December 2025, supported by expanding manufacturing activity.
Industrial Production in China advanced by 5.2% year-on-year in December 2025, boosting Oleum consumption.
China's Manufacturing Index expanded in December 2025, indicating growth in sectors consuming Oleum.
Weak consumer spending, with retail sales growing only 0.9% year-on-year in December 2025, tempered some Oleum demand.
Producer Price Index declined by 1.9% year-on-year in December 2025, reflecting weak industrial pricing power.
The Consumer Price Index rose by 0.8% year-on-year in December 2025, showing subdued inflationary pressures.
The chemical products manufacturing sector experienced growth in December 2025, supporting Oleum demand.
Why did the price of Oleum change in December 2025 in APAC?
Industrial production advanced by 5.2% year-on-year in December 2025, increasing Oleum demand.
Purchasing prices for industrial producers inched up in December 2025, raising Oleum production costs.
Weak producer pricing power, with PPI declining 1.9% year-on-year in December 2025, influenced Oleum prices.
For the Quarter Ending September 2025 North America
US Oleum 23% Price Index rose in Q3 2025, due to higher production costs and feedstock.
Oleum 23% production costs increased in Q3 2025, influenced by 2.6% YoY PPI rise August.
Oleum 23% of mixed demand; robust retail sales (5.42% YoY September) supported consumer sectors.
Industrial production grew 0.1% YoY September, signaling weak Oleum 23% industrial demand.
Elemental sulfur feedstock costs firmed in Q3 2025 due to logistics, raising Oleum 23% expenses.
Natural gas and energy costs increased at the end of Q3 2025, pressuring Oleum 23% manufacturing.
Consumer confidence declined to 94.2 in September, moderating Oleum 23% downstream demand.
A 3.0% YoY CPI increase in September raised inflation, impacting Oleum 23% raw materials.
Chemical industry inventories tightened in Q3 2025 due to destocking, impacting Oleum 23% supply.
Oleum 23% price forecast suggests continued upward pressure from elevated input costs and demand.
Why did the price of Oleum 23% change in September 2025 in North America?
Production costs rose from 2.6% YoY PPI increase August and higher natural gas prices.
Firming sulfur feedstock and 3.0% YoY CPI increase in September elevated input expenses.
Mixed demand: robust retail sales (5.42% YoY September 2025) offset weak industrial production.
APAC
In China, the Oleum 23% Price Index rose in Q3 2025, driven by rising production costs and constrained supply.
Oleum 23% production costs increased due to upward pressure on sulfur feedstock and rising fuel expenses in Q3 2025.
Demand for Oleum 23% strengthened from fertilizer, metal processing, and battery manufacturing sectors in Q3 2025.
Domestic sulfuric acid supply was constrained in China during Q3 2025, impacting Oleum 23% availability.
China's Manufacturing Index was Contracting in September 2025, reflecting reduced industrial activity.
Despite a negative CPI of -0.3% in September 2025, industrial production grew 6.5% year-on-year, supporting some demand.
A negative PPI of -2.3% in September 2025 indicated weak producer prices, but Oleum 23% demand remained strong in key sectors.
Consumer confidence at 89.6 in September 2025 indicated pessimism, yet retail sales grew 3.0% year-on-year.
Why did the price of Oleum 23% change in September 2025 in APAC?
Sulfur feedstock costs faced upward pressure, increasing Oleum 23% production expenses in Q3 2025.
Domestic supply of sulfuric acid was constrained, limiting Oleum 23% availability in China in Q3 2025.
Robust demand from fertilizer and battery manufacturing sectors supported Oleum 23% prices in Q3 2025.
Europe
In Germany, the Oleum 23% Price Index fell quarter-over-quarter in Q3 2025 due to weak industrial demand and inventory oversupply.
Oleum 23% production costs were influenced by elevated sulfur feedstock prices throughout Q3 2025.
Lower producer prices, down 1.7% in September 2025, partially offset Oleum 23% manufacturing expenses.
The Oleum 23% demand outlook was bearish, as Germany's industrial production declined 1.0% in September 2025.
Manufacturing activity in Germany was Contracting in Q3 2025, reducing overall demand for chemical inputs.
European sulfuric acid inventories experienced oversupply in August 2025, contributing to declining Oleum 23% values.
Agricultural sector demand for sulfur-based products strengthened in Germany during Q3 2025.
German chemical industry export orders trended weak in Q3 2025, impacting Oleum 23% trade flows.
The Oleum 23% Price Forecast suggests continued pressure from weak industrial output and high inventories.
Why did the price of Oleum 23% change in September 2025 in Europe?
Weakened overall chemical product demand in Germany during Q3 2025 impacted Oleum 23% prices.
Oversupply of European sulfuric acid inventories in August 2025 contributed to declining Oleum 23% values.
Germany's industrial production decreased 1.0% in September 2025, reducing demand for Oleum 23%
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