For the Quarter Ending September 2025
North America
• In United States, the Zirconium Oxide Price Index fell quarter-over-quarter in Q3 2025, influenced by weak industrial production.
• Production costs rose from 3.0% CPI in September 2025 and 2.6% PPI in August 2025.
• Zirconium Oxide demand was impacted by industrial production growing only 0.1% year-over-year in September 2025.
• Strong US retail sales, up 5.42% in September 2025, indirectly supported Zirconium Oxide demand in consumer applications.
• Zircon feedstock remained stable in 2025; new Heavy Mineral Concentrate suppliers created a market surplus.
• Weakening US exports of zirconium ores in July 2025, with strengthened imports, affected trade flows.
• Declining consumer confidence to 94.2 in September 2025 suggested reduced discretionary spending, dampening demand.
Why did the price of Zirconium Oxide change in September 2025 in North America?
• Industrial production grew only 0.1% year-over-year in September 2025, limiting Zirconium Oxide demand.
• Increased input costs, with PPI up 2.6% in August 2025, pressured Zirconium Oxide production expenses.
• A surplus from new Heavy Mineral Concentrate suppliers impacted Zirconium Oxide supply dynamics in 2025.
APAC
• In China, the Zirconium Oxide Price Index fell quarter-over-quarter in Q3 2025, due to negative producer prices.
• Zirconium Oxide production costs remained stable in Q3 2025, supported by consistent zircon sand feedstock.
• Demand for Zirconium Oxide faced headwinds from a contracting Manufacturing Index in September 2025.
• Despite deflationary CPI at -0.3% in September 2025, industrial production grew 6.5% year-over-year.
• Retail sales increased 3.0% year-over-year in September 2025, boosting Zirconium Oxide consumer demand.
• Raw material inventories remains adequate July-August 2025, with decline narrowing in September, indicating demand.
• Robust growth in refractories and surging NEV sales in Q3 2025 supported Zirconium Oxide demand.
• China's overall trade rebounded in September 2025, with rising exports and imports, impacting Zirconium Oxide.
• Zirconium Oxide price forecast suggests pressure from weak consumer confidence (89.6 index) in September 2025.
• Steady growth in electronic information manufacturing in Q3 2025 provided a stable demand outlook.
Why did the price of Zirconium Oxide change in September 2025 in APAC?
• Producer prices fell 2.3% year-over-year in September 2025, indicating weak industrial pricing.
• Consumer confidence remained low at 89.6 index in September 2025, reducing spending on Zirconium Oxide products.
• A contracting Manufacturing Index in September 2025 signaled reduced industrial activity, dampening Zirconium Oxide demand.
Europe
• In Germany, the Zirconium Oxide Price Index fell quarter-over-quarter in Q3 2025, driven by contracting industrial activity.
• German industrial production declined 1.0% in September 2025, with the Manufacturing Index contracting in Q3.
• Producer prices decreased 1.7% in September 2025, offering some cost relief for Zirconium Oxide production.
• However, CPI increased 2.4% in September 2025, raising general operational expenses for manufacturers.
• Retail sales rose 0.2% in September 2025; unemployment remained stable at 6.3%, offering minor demand support.
• EU27 chemical imports increased more than exports in H1 2025, intensifying market competition for Zirconium Oxide.
• Automotive sector output remained positive in September 2025, providing some positive demand for Zirconium Oxide.
• The Zirconium Oxide price forecast remains challenged by weak industrial demand and persistent cost pressures.
Why did the price of Zirconium Oxide change in September 2025 in Europe?
• Contracting Manufacturing Index in Q3 2025 reduced overall industrial demand for Zirconium Oxide.
• Producer prices decreased 1.7% in September 2025, offering some cost relief for Zirconium Oxide producers.
• Increased EU27 chemical imports in H1 2025 contributed to heightened competition and downward price pressure.
