For the Quarter Ending March 2025
North America
The U.S. Quicklime market exhibited stability in Q1 2025, with month-on-month fluctuations influenced by regional dynamics and external factors. In January, Quicklime prices rose by 0.9%, driven by restricted port activities and severe winter weather that disrupted logistics and construction operations. Despite these challenges, demand remained steady due to consistent consumption in cement manufacturing, construction, and industrial sectors like water treatment and steel production. The import market also saw higher quotations from exporting nations, influenced by increasing overseas demand and tariff-related concerns with China.
In February, Quicklime prices stabilized as supply dynamics improved. Adequate inventory levels and declining global freight rates helped maintain market equilibrium, offsetting stagnant downstream demand. The construction sector showed limited activity, with cement shipments falling by 6% year-on-year in 2024. Key regions, such as the Northeast and Texas, reported notable declines in consumption. Despite these challenges, steady import volumes and efficient inventory management by producers ensured market availability without surplus accumulation.
By March, Quicklime prices remained stable, supported by consistent inventory and low freight rates. While demand across construction and cement sectors remained average, infrastructure projects and industrial applications provided baseline consumption. Overall, the U.S. Quicklime market balanced supply and demand effectively during Q1 2025, mitigating volatility.
APAC
In Q1 2025, Quicklime prices in Thailand and Malaysia saw month-on-month increases, supported by steady inventory levels and lower freight rates. Demand across both markets remained moderate, driven by construction and manufacturing activities despite persistent cost pressures.
In January, Thailand's Quicklime prices rose, fueled by restocking activities and rising construction material costs. Merchants replenished inventories in anticipation of steady demand, while the construction sector faced challenges from escalating land and material costs. Developers employed promotions to sustain interest in residential and condominium projects, particularly in Bangkok and nearby provinces. Similarly, Malaysia's Quicklime prices increased by 1.7% in January, driven by robust performance in the cement sector. Malayan Cement Berhad reported a significant 45% YoY net profit increase, reflecting heightened demand for ready-mixed concrete and contributing to a surge in Quicklime consumption.
In February, Quicklime prices in both countries continued to rise as supply chains stabilized. In Thailand, demand improved slightly as manufacturing activity rebounded, indicated by a PMI rise to 50.6. Restocking efforts supported the market, although shipping delays continued to challenge supply dynamics. In Malaysia, new orders from domestic sectors bolstered Quicklime demand, and PMI improved to 49.7, indicating near-stabilization.
By March, Quicklime prices remained on an upward trajectory, driven by stable inventories and sustained activity in the downstream construction and manufacturing sectors.
Europe
The European Quicklime market experienced fluctuating pricing trends across France, Germany, and the Netherlands during Q1 2025, with overall demand remaining subdued in the construction sector. Prices rose marginally in February and March, driven by industrial demand and supply constraints, despite weak construction activity.
In January 2025, Quicklime prices faced downward pressure across Europe, including France and Germany, due to sluggish demand from downstream sectors, particularly construction and cement. Reduced infrastructure investments, seasonal slowdowns, and macroeconomic uncertainties resulted in oversupply, further intensifying pricing challenges. French constructors scaled back employment and subcontractor usage, reflecting the economic strain in the sector.
In February, Quicklime prices in the Netherlands rose by 1.2%, supported by persistent demand from industrial sectors like steel manufacturing and chemical production. However, logistical challenges from winter conditions and limited production capacity tightened supply, sustaining price increases. Similar trends were observed in Germany, where industrial demand partially offset weak construction activity.
By March, prices in Europe continued to rise moderately, with gradual easing of winter conditions improving supply chain efficiency. Construction demand, however, remained low as cautious investment behavior and high production costs hampered recovery in the sector. Steady industrial demand across France and Germany bolstered market stability, despite ongoing challenges.
Middle East
The UAE Quicklime market demonstrated a consistent upward price trend during Q1 2025, supported by robust construction and real estate activities, particularly in Sharjah. Key drivers included increased property transactions, infrastructure developments, and industrial expansion, all of which bolstered demand for construction materials, including Quicklime.
In January 2025, Quicklime prices rose as Sharjah's real estate sector surged, recording AED 7 billion in transactions—an 80% increase from AED 3.9 billion in January 2024. The doubling of transaction volumes to 11,116 emphasized heightened investor and buyer interest, fueling demand for construction materials. The supply side, however, remained tight, as no significant expansions in production capacity were reported.
February saw further price increases, driven by AED 3.5 billion in real estate transactions across 7,768 deals in Sharjah. Rising energy costs and logistical challenges constrained Quicklime production, tightening supply further. Increased infrastructure developments and ongoing industrial expansion contributed to the bullish market sentiment, despite seasonal fluctuations.
By March, Quicklime prices continued their upward trajectory, supported by government-backed infrastructure projects and private sector investments. Demand remained strong across construction, real estate, and industrial sectors, as well as from the steel and chemical industries, reinforcing the positive market momentum.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. Quicklime market continued to face challenges marked by weak demand and declining prices. After a 1.3% drop in October, driven by sluggish demand from the construction sector and weaker cement sales, Quicklime prices fell further by 0.9% in November due to cheaper imports from China and declining global freight rates.
Cement shipments in the U.S. declined, impacted by high interest rates and reduced procurement activity in preparation for lower production volumes. While supply conditions remained adequate with stable inventories, the influx of affordable Chinese Quicklime, boosted by lower energy costs and production efficiency, contributed to the price decline. Despite some stabilization in new orders toward the end of November, the overall market sentiment remained subdued, as demand from key sectors like construction, steel, and environmental applications stayed moderate. December saw little change, with construction activity stable but unremarkable, further limiting Quicklime consumption.
The year-end dynamics and the availability of competitively priced imports from China played a significant role in curbing price increases, leaving the U.S. Quicklime market in a state of stagnation with a subdued outlook for early 2025.
APAC
In the fourth quarter of 2024, Quicklime prices in China experienced a series of fluctuations, initially showing a decline in October and November, before stabilizing in December. In October, prices remained stable due to reduced demand in the construction sector, where economic uncertainties and slower infrastructure and real estate projects hindered consumption. The weakened export market, compounded by soft demand in other Asian markets and logistical challenges such as port congestion, further pressured Chinese producers. By November, Quicklime prices fell by 1.4%, driven by continued stagnation in the construction sector and reduced property sales, limiting developers' spending on new projects. The drop in calcium carbonate prices and a decline in cement production also contributed to the lower production costs of Quicklime. In December, however, Quicklime prices stabilized as the supply and demand dynamics reached balance. Manufacturing activity showed signs of recovery, supported by government policies, while the construction sector exhibited positive momentum, reflected in a rise in China’s non-manufacturing PMI. Although external demand remained soft, steady domestic supply and improved internal consumption helped keep prices steady, signaling a cautious stabilization in the market as the year came to a close.
Europe
In the fourth quarter of 2024, the European Quicklime market faced continued challenges, marked by fluctuating prices and weak demand across key sectors. After a brief price increase in October, driven by higher raw material and energy costs alongside supply chain disruptions, the market turned downward in November, with prices falling by 1.26%. This decline reflected a slowdown in construction activity, particularly in Germany, where new orders in the construction industry dropped sharply. Despite stable production and inventory levels, demand remained sluggish, especially in the cement sector, due to reduced infrastructure projects, lower residential construction, and declining public investment. As the quarter progressed into December, market conditions worsened, with the German construction sector entering recession and experiencing the steepest decline in activity in eight months. The absence of new orders and reduced labor demand weighed heavily on the market, with residential construction seeing the largest drop. Meanwhile, Quicklime inventories grew, leading to oversupply pressure and further price declines. Overall, weak demand, exacerbated by political and economic uncertainties, contributed to a pessimistic outlook for the industry, as construction companies expressed concerns about ongoing contraction in early 2025, and purchasing behavior remained cautious heading into the new year.
MEA
In Q4 2024, the UAE Quicklime market experienced a steady decline in prices, primarily driven by weak demand from the downstream construction sector and a slowdown in the broader economy. After remaining stable in October, Quicklime prices fell by 0.8% in November, influenced by reduced feedstock costs and ample supply. The construction sector showed no significant growth, with project delays and cancellations, especially those tied to government or oil-related funding, dampening demand. The non-oil sector also faced challenges, with sluggish industrial activity and limited new orders, further suppressing Quicklime consumption. In December, the price of Quicklime continued to decline, exacerbated by weak export demand and a general slowdown in overseas markets, particularly in Southeast Asia and Europe. Destocking activities both locally and internationally helped ease some price pressure, while producers adjusted output to avoid oversupply and protect profit margins. UAE-based Quicklime producers also employed year-end discounting strategies to clear inventories, contributing to the downward price trend. Despite stable supply levels meeting domestic needs, the overall market remained subdued, with moderate demand from sectors like construction and agriculture and a lack of significant growth. This left the Quicklime market in the UAE in a state of stagnation, with a cautious outlook for early 2025.
For the Quarter Ending September 2024
North America
The third quarter of 2024 has witnessed a significant uptrend in Quicklime pricing across North America, with the USA experiencing the most notable price changes compared to the previous quarter. This increase can be attributed to several key factors. The current demand of Quicklime in the downstream industries is low driven by the decline in construction industry. However, recent hurricanes have resulted in significant supply chain disruption, leading to tighter supply conditions, further driving up prices.
The relationship between price changes and seasonal trends has been particularly evident in the USA, where prices saw an approximate 3% increase from the prior quarter. The market faced additional uncertainties stemming from potential strikes at ports and approaching storms in the Gulf of Mexico, which impacted purchasing decisions. Moreover, disruptions in shipping routes and congestion at ports exerted additional pressure on prices, while plant shutdowns further intensified the supply chain challenges throughout the quarter.
By the end of the quarter, Quicklime prices reached USD 221/MT, CFR Texas. This figure underscores the ongoing effects of localized disruptions as well as broader market dynamics on pricing trends within the quicklime sector, illustrating the complexity of the current market environment.
Europe
Throughout Q3 2024, the European Quicklime market experienced a downward trend in prices, influenced by several significant factors. The market witnessed a surplus in supply, attributed to stable production levels and ample stock availability. However, low demand from the downstream sectors, particularly the construction industry, continued to weigh on prices. The ongoing challenges in the construction sector, including reduced new orders and declining activity, further exacerbated the pricing decline. Additionally, logistical disruptions in major ports in Northern Europe contributed to market complexities, impacting supply chains and pricing dynamics. Netherlands, in particular, saw the most significant price changes during the quarter, with Quicklime prices experiencing a notable decrease. This trend was reflective of the overall market sentiment in Europe, characterized by weakening demand and abundant supply. The -2% price change from the previous quarter underscored the consistent downward trajectory in pricing. The quarter ended with Quicklime FD Rotterdam priced at USD 155/MT, highlighting the prevailing negative pricing environment in the region. Plant shutdowns were not reported during this quarter, further indicating the challenges faced by the Quicklime market in Europe.
APAC
The third quarter of 2024 for Quicklime in the APAC region has been marked by a significant decrease in prices, driven by various factors. The market experienced a downward trend due to subdued demand from key sectors like construction and manufacturing. Oversupply of Quicklime further exacerbated the situation, leading to a decline in market prices. In China, the market saw the maximum price changes, as the recent typhoon season, has caused significant disruption, with ongoing heavy rains worsening the situation. These disruptions have negatively impacted construction projects, leading to delays and cancellations that have reduced the demand for construction-related materials. The quarter recorded a sharp -14% decrease from the previous quarter, indicating a challenging pricing environment. Seasonality and correlation played a crucial role in price changes, with the market showing a negative sentiment throughout the quarter. Despite disruptions and plant shutdowns, the pricing environment remained negative. The quarter-ending price in China stood at USD 137/MT of Quicklime (CaO) FOB Qingdao, highlighting the persisting downward trend in pricing.
MEA
In Q3 2024, the Quicklime market in the MEA region witnessed a significant decline in prices, with the United Arab Emirates experiencing the most notable changes. Several factors contributed to this downward trend. This reduction in prices is primarily attributed to a simultaneous drop in the cost of essential feedstock, Calcium Carbonate. The lower feedstock prices have led to decreased production rates, thereby exerting additional downward pressure on Quicklime prices. Moreover, the current price dip can be largely linked to an oversupply of Quicklime in the market. The persistent trade uncertainties in the Red Sea have resulted in extended delivery times for exports, contributing to stockpiled inventories within the country. As inventory levels rise, the imbalance between supply and demand has prompted manufacturers to lower prices in an effort to stimulate sales and manage excess stock. This combination of factors illustrates the challenges facing the Quicklime market in the UAE. The price decrease of 5% from the previous quarter of Q3 highlighted the ongoing downward trajectory. The quarter-ending price of USD 121/MT of Quicklime FOB Jebel Ali in the UAE underscored the prevailing negative pricing environment.
South America
The third quarter of 2024 has witnessed a significant uptrend in quicklime pricing across South America, with the USA experiencing the most notable price changes compared to the previous quarter. This increase can be attributed to several key factors. The current demand of quicklime in the downstream industries is low driven by fluctuations in the decline in construction industry. However, recent hurricanes have resulted in significant supply chain disruption, leading to tighter supply conditions, further driving up prices.
In the USA specifically, the correlation between price changes and seasonality has been evident, with prices showing an approximately 4% increase from the previous quarter. Despite the increase in price, Industries faced challenges from hurricanes, which disrupted the supply chain, while weak orders from the overseas market also contributed to price volatility. Furthermore, capacity on shipping routes from the Far East to US remains constrained due to ongoing disruptions in the Red Sea.
As of the end of the quarter, quicklime prices reached USD 156/MT, CFR Santos. This figure highlights the ongoing impact of both localized disruptions and broader market dynamics on pricing trends in the quicklime sector.
For the Quarter Ending June 2024
North America
In Q2 2024, the Quicklime market in North America exhibited a stable pricing context. Throughout this quarter, several critical factors influenced market prices, contributing to a steady environment. A significant reason for this stability was the consistent supply from major exporters, ensuring no significant disruptions in the market. The construction sector's moderate performance, coupled with a strategic approach to inventory management, further reinforced market stability. Suppliers maintained a balance between supply and demand, avoiding overstocking and understocking scenarios.
Focusing on the USA, the country saw the most notable price changes within this quarter. The overall trend reflected a stable sentiment, as prices remained largely unchanged between the first and second halves of the quarter. Seasonality appeared to have a negligible impact on Quicklime prices, given the consistent activity within the construction sector. The correlation between demand and pricing showed that despite a robust downstream construction sector, prices maintained their steadiness due to sufficient supply and efficient supply chain operations. The percentage change from the previous quarter in 2024 was recorded at 2%, indicating minor fluctuations reflective of a stable market environment.
The quarter concluded with the price of Quicklime (CaO) CFR Texas in the USA standing at USD 221/MT. This consistency underscores a stable pricing environment, reflecting neither a decidedly positive nor a negative trend but rather a balanced market outlook without any notable disruption or plant shutdowns during the quarter.
APAC
In Q2 2024, the Quicklime market across the APAC region experienced a consistent downward trend in pricing, influenced by several critical factors. The market faced weak new orders primarily due to subdued construction activities, compounded by higher input costs and increased freight rates in overseas markets. A significant oversupply of Quicklime exacerbated the price decline, as manufacturers and merchants had to deal with an excess inventory amidst low demand. The overall market sentiment remained negative, influenced by economic uncertainties and reduced investment in the construction sector.
Focusing on China, which saw the most substantial price changes, the Quicklime market was remarkably unstable. Despite the moderate improvement in the construction sector following the Spring Festival, the market faced sluggish demand due to the bearish property market and delayed developer funding. The increased availability of Quicklime, coupled with weak downstream construction activities, put significant downward pressure on prices. Seasonality played a role in the trends observed, with the impact of continuous rainfall in East China contributing to reduced demand. The correlation between the NBS Non-Manufacturing PMI's decline and slipping Quicklime prices underscored the adverse impact on market sentiment.
Notably, there were no recorded plant shutdowns or significant disruptions in the supply chain during this quarter. The price decreased by 16% compared to the previous quarter and by 19% between the first and second halves of Q2 2024, highlighting the persistent downward momentum. The quarter-ending price for Quicklime FOB Qingdao was USD 145/MT, reflecting a firmly negative pricing environment throughout the period.
Europe
The second quarter of 2024 saw a notable increase in Quicklime prices across Europe, driven by several influential factors. Despite the persistent underperformance of the downstream construction industry, Quicklime prices escalated due to heightened market competition and a concerted effort by suppliers to stabilize prices after prolonged declines that pressured profitability margins. The global market's high freight charges also contributed significantly to this price adjustment, as European producers factored in these external costs. Additionally, while European construction demand remained tepid, improved supplier performance and reduced delivery times, particularly in Germany, helped curb inflationary pressures and support this price elevation.
Focusing on Germany, where price changes were most pronounced, the Quicklime market experienced a significant uptick. This was driven by better supply chain efficiencies, increased performance in the manufacturing sector, and a sharp rise in supplier performance. Despite subdued housing and commercial activities, the slight improvement compared to April and the high inflation rates led suppliers to revise prices upwards. The overall trend indicated a moderate but consistent increasing sentiment, with a mid-quarter price comparison showing a 5% rise from the first half, reflecting the sustained positive pricing environment.
Conclusively, Germany's quarter-ending Quicklime price stood at USD 160/MT FD Hamburg, highlighting a predominantly positive pricing environment in Q2 2024. The 1% increase from the previous quarter underscores the market's gradual but steady recovery trajectory.
MEA
During Q2 2024, the Quicklime market in the MEA region encountered a uniformly declining pricing trend, driven by several critical factors. Weak demand across multiple sectors, including construction and manufacturing, played a pivotal role in this downturn. Despite stable supply chains and consistent production levels, the market faced an oversupply situation, exacerbating the downward pressure on prices. Additionally, economic uncertainties and a cautious approach from buyers further suppressed fresh orders, contributing to the bearish market outlook.
Focusing on the United Arab Emirates, the country exhibited the most significant price fluctuations within the region. The decreasing pricing environment was primarily influenced by subdued demand in the downstream construction sector, despite its otherwise strong performance. Market dynamics such as the preference for utilizing existing inventory over new purchases and the moderate supply levels accentuated the declining trend. Moreover, higher inventories and weak market demand were compounded by infrastructure challenges, further stagnating the market.
Seasonal factors also contributed to the price reduction, with the second half of the quarter showing a more pronounced decline compared to the first half. This trend underscores a consistent bearish sentiment throughout Q2 2024. The market saw a -4% change from the previous quarter, reflecting an ongoing negative pricing environment. The quarter-ending price for Quicklime (CaO) FOB Jebel Ali in the UAE stood at USD 125/MT, marking a clear decline and suggesting that the pricing environment has been predominantly negative.
