For the Quarter Ending June 2026
Oxygen Prices in APAC
- In China, the Oxygen Price Index fell by 1.20% quarter-over-quarter, reflecting stable supply and muted procurement.
- The average Oxygen price for the quarter was approximately USD 356.67/MT, reflecting balanced supply-demand dynamics.
- Oxygen Spot Price showed firmness in June as export enquiries and steady inventories limited downward pressure.
- Oxygen Price Forecast signals volatility as electricity cost pressures and seasonal demand shifts influence offers.
- Oxygen Production Cost Trend rose as higher industrial electricity tariffs increased liquefaction and compression expenses.
- Oxygen Demand Outlook remains modest with steel and photovoltaic consumption but constrained by weak construction.
- Oxygen Price Index volatility limited by ample ASU output, captive allocations and export enquiries persisting.
- Major producers operated normal rates; port congestion caused distribution inefficiencies but did not create shortages.
Why did the price of Oxygen change in June 2026 in APAC?
- Higher industrial electricity tariffs increased costs, prompting producers to raise FOB offers despite stable supply conditions.
- Steady steel and photovoltaic consumption sustained demand while cautious procurement limited sharper price escalation overall.
- Port congestion and logistical inefficiencies modestly constrained distribution, supporting upward offer adjustments for export-ready shipments.
Oxygen Prices in North America
- The Oxygen Price Index remained stable to slightly firm during the quarter, supported by healthy demand from steel production, chemicals, healthcare, energy and manufacturing industries. North America continued to benefit from its well-developed industrial gas infrastructure.
- The average Oxygen Price remained supported by stable industrial consumption and long-term supply agreements across major end-use industries.
- Oxygen Spot Price remained steady as domestic production from air separation units adequately met market demand.
- Oxygen Production Cost Trend remained stable, with electricity costs continuing to represent the primary production expense. Efficient plant utilisation helped producers maintain competitive operating costs.
- Oxygen Price Forecast suggests a stable-to-firm outlook, supported by industrial manufacturing activity and steady healthcare demand.
- Strong domestic production and efficient logistics prevented supply disruptions, limiting volatility in the Oxygen Price Index.
Why did the price of Oxygen change in June 2026 in North America?
- The Oxygen Price Index remained stable in June 2026 as sufficient production capacity balanced steady industrial and medical demand.
- Stable electricity costs and efficient plant operations helped maintain the Oxygen Price without significant changes.
- Healthy demand from manufacturing and healthcare sectors supported market stability, while adequate supply prevented sharp price increases.
Oxygen Prices in Europe
- The Oxygen Price Index remained largely stable during the quarter, supported by balanced industrial gas supply and steady demand from steelmaking, healthcare, chemicals, glass manufacturing and metal fabrication industries. Europe continued to witness resilient industrial gas consumption despite mixed manufacturing activity.
- The average Oxygen Price remained stable as sufficient production from air separation units and long-term supply contracts helped limit major price fluctuations.
- Oxygen Spot Price showed limited volatility during the quarter as suppliers maintained adequate inventories and buyers followed regular procurement patterns.
- Oxygen Production Cost Trend remained stable. Electricity remained the largest production cost component for oxygen manufacturing through air separation units, while relatively stable energy prices limited significant cost changes during the quarter.
- The Oxygen Price Index reflected balanced supply-demand conditions, with stable production capacity preventing supply shortages.
- Regional production facilities continued normal operations, while comfortable inventories limited significant movements in the Oxygen Price Index.
Why did the price of Oxygen change in June 2026 in Europe?
- The Oxygen Price Index remained largely stable during June 2026 due to sufficient production availability and balanced industrial demand.
- Stable electricity costs and uninterrupted operations at air separation units kept the Oxygen Price largely unchanged.
- Consistent demand from healthcare and industrial users supported pricing, while adequate supply prevented any significant increase.
For the Quarter Ending March 2026
Oxygen Prices in APAC
- In China, the Oxygen Price Index rose by 2.46% quarter-over-quarter, reflecting marginal net gains from demand uptick.
- The average Oxygen price for the quarter was approximately USD 361/MT, on FOB Shanghai during seasonal demand.
- Oxygen Spot Price softened in March due to weaker steel demand and elevated port iron ore inventories.
- Oxygen Price Forecast anticipates mild recovery as industrial activity normalises, subject to energy-cost and logistics pressures.
- Oxygen Production Cost Trend remained stable as subsidised electricity contained expenses despite rising LNG and diesel shipping premiums.
- Oxygen Demand Outlook is moderate; steel sector cautious production reduces immediate consumption growth despite seasonal medical and industrial restocking.
- Oxygen Price Index reflected balanced market conditions with ample ASU availability, port congestion and steady export enquiries.
- Major producers ran at normal rates, consolidation improved efficiency, limiting sharp upside despite geopolitical freight cost pressures.
Why did the price of Oxygen change in March 2026 in APAC?
- Sufficient ASU output and high iron ore stocks reduced downstream oxygen demand, pressuring spot prices.
- Higher energy and shipping costs from Strait of Hormuz disruptions increased marginal production expenses, capping producers' pricing flexibility.
- Pre-Lunar New Year port congestion and cautious steel mill restarts limited urgent purchasing and softened March demand.
Oxygen Prices in North America
- In the United States, the Oxygen Price Index remained stable-to-slightly firm quarter-over-quarter, supported by steady industrial activity and balanced ASU operating rates.
- The average Oxygen market tone stayed stable, with medical and industrial consumption holding consistent through the quarter.
- Oxygen Spot Price softened slightly in March as steel production moderated and downstream mills reduced short-term oxygen pull.
- Oxygen Price Forecast signals mild upward pressure, driven by higher logistics costs, energy-linked inflation, and seasonal industrial restocking.
- Oxygen Production Cost Trend remained mostly steady, as electricity-linked costs were contained despite rising diesel and LNG transportation premiums.
- Oxygen Demand Outlook stayed moderate, supported by medical, fabrication, and industrial gas applications, though steel sector caution limited stronger gains.
- The Oxygen Price Index reflected balanced supply conditions, with ample ASU output and stable domestic distribution networks.
- U.S. producers operated normally, though freight delays and elevated insurance premiums added mild cost pressure to delivered offers.
Why did the price of Oxygen change in March 2026 in the USA
- Softer steel production reduced short-term oxygen demand, pressuring spot sentiment.
- Higher logistics, diesel, and LNG-linked transportation costs increased marginal delivered costs.
- Balanced ASU output and stable inventories limited volatility, keeping prices mostly steady with slight firmness.
Oxygen Prices in Europe
- In Europe, the Oxygen Price Index moved slightly higher quarter-over-quarter, supported by energy-linked cost inflation and steady industrial consumption.
- The average Oxygen market tone remained balanced-to-firm, with medical and fabrication demand holding stable despite weaker steel output.
- Oxygen Spot Price softened in early March but stabilized as port congestion and longer transit times tightened regional distribution.
- Oxygen Price Forecast anticipates mild upward pressure, driven by elevated electricity costs, freight inflation, and geopolitical-linked logistics risks.
- Oxygen Production Cost Trend increased as power prices, LNG premiums, and diesel freight rates rose across European industrial hubs.
- Oxygen Demand Outlook remained moderate, supported by medical gases, welding, fabrication, and industrial maintenance cycles.
- The Oxygen Price Index reflected steady ASU availability, though regional logistics inefficiencies added mild tightness.
- European producers operated normally, but energy-cost volatility and port delays limited downward price movement.
Why did the price of Oxygen change in March 2026 in Europe
- Rising electricity and freight-linked costs increased production and delivered expenses, supporting firmer offers.
- Port congestion and longer transit times constrained prompt supply, limiting spot softness.
- Moderate industrial and medical demand kept procurement steady, preventing deeper price declines.
For the Quarter Ending December 2025
North America
- In North America, the Oxygen Price Index remained largely stable quarter-over-quarter, reflecting balanced supply conditions.
- Oxygen Spot Price held steady, as adequate regional availability offset higher transportation and distribution costs.
- The Oxygen Price Forecast points to stability, with prices expected to track energy costs rather than demand growth.
- The Oxygen Production Cost Trend showed mild upward pressure, influenced by higher electricity and maintenance expenses at air separation units.
- Oxygen Demand Outlook remained soft, with steel, fabrication, and construction sectors operating below seasonal norms.
- The Oxygen Price Index stability was supported by long-term supply contracts, limiting volatility in the spot market.
- Smooth logistics and uninterrupted plant operations ensured consistent supply across major US industrial hubs.
Why did the price of Oxygen change in December 2025 in North America?
• Stable production rates maintained adequate market supply.
• Higher energy and distribution costs were absorbed within contract pricing.
• Muted industrial demand prevented suppliers from pushing price increases.
APAC
- In China, the Oxygen Price Index rose by 0.67% quarter-over-quarter, logistics constraints elevated spot premiums.
- The average Oxygen price for the quarter was approximately USD 352.33/MT, reflecting supply pressures regionally.
- Oxygen Spot Price firmed as port delays and inland trucking cost increases sustained FOB premiums.
- Oxygen Price Forecast signals upside; Oxygen Production Cost Trend remains elevated from higher energy charges.
- Oxygen Demand Outlook stayed weak from steel and construction, Price Index decoupled due to logistics.
- Inventory levels prevented acute shortages, yet extended lead times and sanctions sustained cautious merchant buying.
- Export flows to Vietnam and Hong Kong increased, keeping FOB offers competitive against regional suppliers.
- Major producers operated nameplate rates with few outages, maintaining balanced supply and capping volatility downside.
Why did the price of Oxygen change in December 2025 in APAC?
- Port congestion, typhoon impacts and sanctions lengthened deliveries, increasing inland transport costs sustaining spot premiums.
- Elevated electricity and compliance charges nudged production cost inputs higher, reducing margin flexibility for suppliers
- Soft steel and construction demand lowered offtake; export demand and logistical friction prevented price declines.
Europe
- In Europe, the Oxygen Price Index moved marginally upward quarter-over-quarter, supported by higher energy costs and regional logistics tightness.
- Oxygen Spot Price firmed, particularly in inland markets, as winter-related transport constraints and higher fuel surcharges raised delivered costs.
- The Oxygen Price Forecast signals a steady-to-firm bias, with limited downside expected amid persistent energy cost pressures.
- The Oxygen Production Cost Trend remained elevated, driven by high electricity prices and compliance-related operating expenses.
- Oxygen Demand Outlook stayed subdued, as weak steel output and slower construction activity capped volume growth.
- The Oxygen Price Index was partially insulated from weak demand, as suppliers prioritized contract customers and managed merchant availability.
- Inventories were adequate, but extended delivery timelines in parts of Central and Eastern Europe supported spot premiums.
Why did the price of Oxygen change in December 2025 in Europe?
• Elevated power and utility costs raised air separation operating expenses.
• Winter logistics disruptions increased inland freight and handling costs.
• Weak steel demand limited upside, but cost inflation prevented price softening.
For the Quarter Ending September 2025
APAC
- In China, the Oxygen Price Index rose by 0.0% quarter-over-quarter, logistical disruptions offset weak demand.
- The average Oxygen price for the quarter was approximately USD 350.00/MT amid subdued industrial demand.
- Oxygen Spot Price remained low and supported by port congestion and delivery delays despite weak downstream activity.
- Oxygen Price Forecast indicates modest upside risk as energy cost pressures and stricter regulations persist.
- Oxygen Production Cost Trend reflects rising energy expenses and compliance costs, increasing baseline manufacturing costs.
- Oxygen Demand Outlook remains weak as steel and coating sectors underperform, limiting offtake and procurement.
- Oxygen Price Index remained stable as ample inventories offset logistical disruptions and seasonal consumption weakness.
- Export demand softness and destocking weighed on spot offers, discouraging merchants from pushing Oxygen prices.
Why did the price of Oxygen change in September 2025 in APAC?
- Heavy seasonal rainfall and flooding disrupted logistics, prolonging deliveries and supporting prices despite weak demand.
- Sufficient inventories and subdued steel production reduced offtake pressure, exerting downward influence on spot pricing.
- Higher energy and compliance costs raised production expenses, offsetting the price decline from weak demand.
North America
- In the United States, the Oxygen Price Index declined by quarter-over-quarter, reflecting subdued industrial demand and high inventories.
- Oxygen Spot Price softened in September as steel and construction sectors reduced offtake amid macroeconomic uncertainty.
- Oxygen Price Forecast remains neutral, with limited upside unless industrial activity rebounds in Q4.
- Oxygen Production Cost Trend eased slightly due to lower natural gas prices and improved liquefaction efficiency.
- Oxygen Demand Outlook was mixed—stable in healthcare and aerospace, but weak in automotive and coatings segments.
- Oxygen Price Index reflected oversupply and margin compression amid high inventory levels across Gulf Coast terminals.
- Spot market activity remained subdued, with traders cautious amid uncertain demand signals and steady domestic production.
Why did the price of Oxygen change in September 2025 in the USA?
- Weak demand from steel and construction sectors reduced spot buying, softening the Price Index.
- Lower energy costs and high inventories prompted price corrections across key distribution hubs.
- Competitive imports and slow recovery in industrial segments capped upward price movement.
Europe
- In Europe, the Oxygen Price Index rose by quarter-over-quarter, supported by seasonal healthcare demand and steady industrial consumption.
- Oxygen Spot Price firmed in September due to increased procurement from hospitals and metal processors amid tighter logistics.
- Oxygen Price Forecast remains cautiously bullish, with energy inflation and winter respiratory season expected to lift demand.
- Oxygen Production Cost Trend remained elevated due to high electricity tariffs and carbon compliance costs across Western Europe.
- Oxygen Demand Outlook was stable in healthcare and metallurgy, while chemical and environmental sectors showed moderate growth.
- Oxygen Price Index reflected disciplined production and reduced Asian imports, tightening regional availability.
- Inland transport delays and rising energy costs added pressure to delivered pricing, sustaining firm spot offers.
Why did the price of Oxygen change in September 2025 in Europe?
- Seasonal healthcare demand and restocking by metal processors lifted spot activity, supporting the Price Index.
- Elevated energy costs and carbon compliance obligations increased production expenses, sustaining firm pricing.
- Logistics constraints and reduced import flows tightened inventories, lifting spot prices across Northern Europe.
