For the Quarter Ending June 2022
North America
The market sentiments for Pyridine in the North American region have remained stagnant during the Second quarter of 2022. In addition, the steadiness in the market occurred due to market dullness in the region. Furthermore, the primary reason for the stable prices was the volatility in the upstream crude oil value, which directly influenced the cost of feedstock Crude coal tar. Furthermore, amidst the Russia and Ukraine war and pandemic restriction in China, local manufacturers have been facing a frenzy supply to cater to domestic demand. These facets have proportionally affected the prices of Pyridine across the regional market. Overall, demand from the downstream Agrochemical sector has remained stable to weak in the regional market.
Asia- pacific
Pyridine prices showed positive market sentiments in the Asia-Pacific region during Q2 2022. Prices turned firm due to the upstream crude coal tar's appreciable rise in the supply crisis. On the other hand, demand for Pyridine in the downstream sectors remained strong since it has been utilized as the solvent in the pharmaceutical and agrochemical sectors. Furthermore, the Covid break and shutdown in several cities of China have negatively affected industrial and trading activities. Subsequently, shortage of raw materials and port congestion has the other facets of the price surge in the Chinese market.
Europe
During the quarter ending June, Pyridine prices in Europe showcased an upward trajectory backed by the upsurge in demand across the regional market. In addition, the shoot-up in upstream Crude oil value has proportionated the raw material Crude coal tar, which further affected the prices of Pyridine. Besides, many downstream industries have been attempting to maintain balance; hence, Europe's downstream market dynamics have been resilient. However, supply fundamentals continued to be imbalanced as domestic production has cut its operating rates amidst high energy costs in the European region. At the same time, import prices of the material have continued to rise due to solid demand in Agrochemical industries in the regional market coupled with a high freight charge which further triggered the price of Pyridine to follow an uptrend across the regional market.
For the Quarter Ending March 2022
North America
Pyridine showed an upward trend in the United States during Q1 2022 owing to the product's limited availability in the region. High upstream values in the global market amidst the Russia-Ukraine crisis; has further weighed up its prices amidst the firm demand pattern. Thus, the high cost of Pyridine in the region has been due to supply shortage and increased demand from pharmaceuticals as intermediate. The price of Pyridine FOB Ohio (USA) was assessed at USD 7975/MT, while the prices of Pyridine FOB Louisiana (USA) settled at USD 8120/ MT during March 2022.
Asia Pacific
Pyridine prices increased in the Asia-Pacific region during the first quarter of 2022. Due to rising production costs and skyrocketed upstream prices on the back of geopolitical tension. Demand from the downstream industries, on the other hand, remained firm as pyridine is used as an intermediate in the pharmaceutical industries, which is never a dull market. In China, Pyridine prices have increased due to low production activities and operational rates on the back of the Chinese New Year. Pyridine Ex- Mumbai (Bulk) prices were assessed at USD 3137 /MT, while FOB Shanghai (China) were evaluated at USD 4940/MT during March 2022.
Europe
Pyridine witnessed a positive market sentiment in Europe during Q1 2022 showcasing a rise by nearly 3% in its prices. Prices remained on uptrend on the back of crippled availability of the product in the region. Upstream prices surged due to the Russian invasion of Ukraine, and prices rose as the market revived due to increased demand. Supply shortage and growing demand from the downstream pharmaceutical industry as an intermediate resulted in continuous rise in the prices of Pyridine in the region. Furthermore, increased freight charges due to container shortage disrupted supply chains leading to a supply deficit region.
For the Quarter Ending December 2021
North America
Despite global trade difficulties, pyridine pricing in the North American market remained stable, and prices grew considerably during the quarter. Because to the government's new energy regulations, there has been some disruption in production activities in the United States. Furthermore, end-user demand for Pyridine in the United States remained stable to firm, with dealers seeking to keep enough supplies on hand to meet overall demand. CFR Texas prices in the United States were last assessed at USD 4385/MT in this quarter.
APAC
The demand for pyridine as an intermediary in the manufacture of pharmaceuticals has remained robust throughout the quarter, owing to a continuous increase in the number of cases of the worldwide pandemic in India. Furthermore, traders were concerned about freight charges, which had increased by a large amount compared to pre-pandemic levels. Pyridine prices soared this quarter, closing at roughly INR 269600/MT ex-Mumbai.
Europe
The European market remained balanced in Q4 2021, with supply improving with the restart of a large upstream plant after a lengthy shutdown. However, certain restrictions were observed as market sentiments were impacted by lower imports from the United States, which were hampered by high shipping freight prices and severe weather conditions. Demand from downstream industries such as pharmaceuticals, adhesives, and rubber industries soared in response to the supply deficit, resulting in increased offtakes.
For the Quarter Ending September 2021
North America
The pricing trend of Pyridine remained stable across the North American region during the 3rd quarter of 2021. The demand for Pyridine from the downstream agriculture industry was low in Q3 whereas demand for Pyridine derivatives such as beta picoline remained stable in the US market. In terms of supply, offtakes of Pyridine were ample to cater to the market demand. High freight costs and low availability of raw materials have further exacerbated the market outlook of Pyridine across the region.
Asia Pacific
During the third quarter of 2021, the overall market outlook demonstrated a marginal increment in the prices of Pyridine across the Asia Pacific region. The price of Pyridine kept its previous price trend continued in July, as the previous market fundamentals remained persistent. Demand from the domestic and international pharmaceuticals sector fluctuated between stable to firm range, while trading activities were running disturbed in Q3. Pyridine prices rose significantly and escalated from USD 3374/MT to USD 3493/MT from July to September.
Europe
The international logistics situation remained challenging and shipping delays affected Pyridine supplies in Q3 2021. The logistics issues concerning container movement and vessel availability resulted in higher freight costs and longer delivery timelines. Overall demand from the downstream sectors remained strong throughout the quarter. Regional demand continued to improve in Q3 from the Pharmaceutical & Agrochemical end product customers in Europe. However, higher production costs continued to disrupt the production levels towards the end of Q3.
For the Quarter Ending June 2021
North America
During the second quarter of 2021, supply in the North American region improved in comparison to the previous quarter as the industrial activities resumed after a prolonged turnaround. However, some constraint in the supplies remained as suppliers were focused to clear the backlog orders that were piled up since Q1 2021. Demand outlook surged throughout the quarter as the offtakes remained consistent from the solvent industries. As a ripple effect of exceptional demand outlook in the second quarter, prices of Pyridine remained buoyed throughout the second quarter with prices in June reaching USD 6850 per tonne at FOB Ohio.
Asia Pacific
In the Asia Pacific region, supplies remained balanced in the second half of Q2 2021. Offtakes were sluggish as the industrial activities were subdued in India amidst the rising COVID cases. Hence buyers from the downstream manufacturing industries were reluctant to procure in bulk due to the hovering uncertainties. Jubilant life science exported 161 tonnes of Pyridine and salts derivatives in the second quarter. Offtakes remained consistent from the pharmaceutical industry in the regional market, however due to the reduced demand, pricing trend stabilize in India with Ex-Work Mumbai pries in June being assessed at USD 3207 per tonne.
Europe
Overall, the supplies outlook in the European region remains tight in the second quarter of 2021, as several manufacturers were still struggling to improve the production rate due to lack availability of raw material. Besides, due to the Suez Canal blockage the shipment from the Asia Pacific region delayed by a week. Demand bolstered from the downstream solvent industries as the enquiries from the end-use of rubber and adhesives industries improved. As a ripple effect the prices of Pyridine in the European region surged throughout the quarter.
For the Quarter Ending March 2021
North America
US Pyridine market witnessed supply constraints during the first quarter of 2021, due to the tightness in upstream market and unavailability of feedstock, as the region was hard hit by freezing weather conditions in much of central America. Demand from the downstream sectors surged due to the supply shortages throughout the quarter, followed by the surge in enquiries from the pharmaceutical sector and adhesive building & construction sector. The demand-supply gap widened amid the strong competition among the buyers caused the multifold hike in the prices of Pyridine FOB Louisiana with prices settling at USD 6805 per tonne in March.
Asia-Pacific (APAC)
Pyridine supplies in the Asia Pacific region market was balanced to tight during the first quarter of 2021. Major supplier plants in Middle East region were on a maintenance turnaround. Inventory levels further diminished following the limited production amid the Chinese Lunar New Year holidays. The hike in prices of key feedstocks proportionally supported the prices of Pyridine in Q1, April delivery prices were assessed at USD 3351/MT in India. Demand strengthened as the offtakes improved from the pharmaceutical sector, due to resurgence of COVID in several part of the region.
Europe
The European market remained balanced during the Q1 2021, as supplies improved with resumption of a major upstream plant after a prolonged period of turnaround. However, some constraints were witnessed as the market sentiments were impacted due to the declined imports from the US amid high shipping freights charges and bad weather conditions. Demand enquiries from the downstream sectors surged against the supply shortage, due to the rebound of automotive and construction sector and improved offtakes from the downstream segment such as pharmaceutical, adhesives and rubber industries.
For the Quarter Ending December 2020
Asia
The domestic consumption of Pyridine spiked in Asia, during the fourth quarter of 2020, following the buzz of new coronavirus across several parts in the region. As Pyridine is used as an intermediate for various APIs in pharmaceutical industry, the demand across the region witnessed an enormous surge, due to sturdy demand for medicines for boosting immunity as a preventive measure of new Coronavirus. Following the increase in export for Pyridine and its derivatives improved in India, significant domestic demand for Pyridine resulted in a two-fold spike in its price, where Pyridine prices settled at USD 3310.14 per ton in Q4 2020.
Europe
The resurgence of COVID in several countries across European region, led to an astonishing surge in API’s demand from the pharmaceutical sector. Despite of ample demand import constraints like container unavailability and essential manpower shortage implemented the supply in the region. Germany emerged as the largest importer of Pyridine and its derivatives in the European region in Q4 2020. Pyridine prices backed by the sturdy demand and import shortage witnessed a steep climb during Q4 2020.
North America
The supplies were hampered during the first half of fourth quarter, due to plants turnaround in gulf region amid the spate of hurricanes followed by several import constraints like low container availability. Although, the supply considerably improved during the second half of Q4, as several plants resumed production after weeks long force majeure. By quarter end, the demand witnessed a continuous uptick due to the surged demand from the pharmaceuticals sector.
