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%
