For the Quarter Ending September 2025
North America
• In United States, the Thiourea Price Index rose quarter-over-quarter in Q3 2025, driven by increasing production costs.
• Thiourea production costs increased in Q3 2025 due to a 2.6% PPI rise in August 2025 and surging ammonia prices.
• Thiourea demand outlook is mixed; robust retail sales (5.42% YOY in September 2025) supported some end-use sectors.
• Industrial production inched up 0.1% year-over-year in September 2025, indicating near stagnation for industrial Thiourea demand.
• Consumer confidence declined to 94.2 in September 2025, suggesting softening demand for Thiourea-related consumer goods.
• Thiourea price forecast suggests continued upward pressure from cost-push inflation, despite demand headwinds.
Why did the price of Thiourea change in September 2025 in North America?
• Thiourea production costs rose due to a 2.6% PPI increase in August 2025 and surging ammonia feedstock prices.
• A 3.0% CPI increase in September 2025 indicated general inflation, raising overall Thiourea manufacturing expenses.
• Cost-push factors from macroeconomic indicators primarily drove Thiourea price trends, despite demand softening.
APAC
• In China, the Thiourea Price Index fell quarter-over-quarter in Q3 2025, influenced by contracting manufacturing activity.
• Thiourea production costs rose in Q3 2025, driven by increased thermal coal spot prices and higher coking coal costs.
• Demand faced headwinds from -0.3% CPI and -2.3% PPI year-over-year in September 2025.
• Despite a contracting Manufacturing Index in September 2025, industrial production expanded 6.5% year-over-year.
• Regional ammonia supply remains balanced in Q3 2025 thereby influencing the overall production management.
• China's chemical industry continued to experience overcapacity in 2025, limiting Thiourea price recovery.
• Thiourea price forecast remains uncertain, balancing rising costs against subdued demand and overcapacity.
• Agricultural product consumption grew slowly in 2025, with increasing grain and soybean production supporting Thiourea demand.
Why did the price of Thiourea change in September 2025 in APAC?
• Weak consumer demand, with -0.3% CPI year-over-year in September 2025, pressured Thiourea prices.
• Contracting manufacturing activity, Manufacturing Index 'Contracting' in September 2025, reduced Thiourea demand.
• Adequate feedstock supply balanced the overall production management with respect to the overall market demand.
Europe
• In Germany, the Thiourea Price Index fell quarter-over-quarter in Q3 2025, driven by contracting manufacturing activity.
• Overall Thiourea demand remained weak in Q3 2025, as industrial production declined 1.0% year-over-year in September 2025.
• The Manufacturing Index contracted in Q3 2025, signaling reduced new orders and dampening demand for Thiourea.
• Inventory levels faced pressure for reduction in Q3 2025 due to subdued Thiourea demand and low capacity utilization.
• Trade flows were negatively impacted by US tariffs in July 2025 and heightened competition from Chinese imports.
• Consumer Price Index rose 2.4% year-over-year in September 2025, indicating general inflation impacting Thiourea operational costs.
Why did the price of Thiourea change in September 2025 in Europe?
• Weak industrial production, down 1.0% year-over-year in September 2025, reduced Thiourea demand.
• Contracting manufacturing activity in Q3 2025, indicated by the Manufacturing Index, lowered new orders.
• Elevated energy and raw material costs, despite a 1.7% PPI decline, pressured Thiourea production but adequate inventories availabilities marked a no major fluctuations in the price.
