For the Quarter Ending September 2023
North America

In the third quarter of 2023, the Hydrochloric Acid market in North America witnessed a mixed trend. The initial part of the quarter was characterized by stability, driven by modest demand from the household cleaning sector, while reduced consumption in the steel industry dampened overall demand. Downward pressure on the US steel market was further exacerbated by limited export orders. Despite these challenges, inventory levels remained steady throughout the month. Companies, however, continued to reduce backlogs and deplete finished product stocks. The market shifted in the second part of Q3, experiencing a slight increase in overall demand from downstream industries. Businesses cited a shortage of drivers hindering delivery time improvements. Production and supply disruptions in the US market, influenced by tight labor market conditions, led to a marginal rise in Hydrochloric Acid prices by the quarter's end. The US construction industry's growth in September, as reported by the Bureau of Labor Statistics (BLS), further contributed to this shift.

APAC

Throughout the third quarter of 2023, the South Korean Hydrochloric Acid market maintained price stability due to limited demand from downstream industries. Construction activities were sluggish, steel production decreased, and the Purchasing Managers Index (PMI) for South Korean manufacturers indicated an economic contraction in August. Stable Hydrochloric Acid prices were partially offset by declining costs in the upstream Chlorine market. Manufacturers, keen on maintaining market stability, kept a close eye on profit margins. South Korea's reliance on Hydrochloric Acid imports from Japan, coupled with the availability of low-cost imported supply, influenced the domestic market. Additionally, potential policy tightening by the Bank of Korea could complicate challenges in the construction industry and impact the real estate market.

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Europe

The Hydrochloric Acid market in Europe faced significant challenges in the third quarter of 2023, marked by a drop in demand from the steel manufacturing and construction sectors. Declining construction activity across the eurozone coincided with a notable deterioration in customer demand, particularly in Germany and France. Export demand weakened as European steel manufacturers scaled back production due to high gas prices and subdued demand. Eurostat's data for July 2023 revealed a decrease in Germany's producers' price index. The construction industry, a major consumer of Hydrochloric Acid, experienced adverse effects from microeconomic conditions, resulting in a sharp decline in residential building projects. Despite a cautious approach, the Hydrochloric Acid market saw a revival by the end of Q3, driven by improved demand from downstream industries amid tight supply conditions. The Consumer Price Index (CPI) in the Euro Area also increased in September 2023.

South America

The South American Hydrochloric Acid market mirrored the US trend in the third quarter of 2023. In the first half, prices were soft to stable due to decreased demand from the steel industry, leading to reduced purchasing activities and workforce adjustments. Continuous drops in construction activity and worsening customer demand contributed to market subduedness. However, in the second half of the quarter, prices rose due to an uptick in new orders and a resumption of production growth. Brazil's Purchasing Managers Index (PMI) showed an increase, and the construction sector displayed modest improvement, boosting Hydrochloric Acid prices. Increased industrial and construction activities in Brazil drove up demand for Hydrochloric Acid by the quarter's end.


The Hydrochloric Acid market in the Middle East and Africa (MEA) during the third quarter of 2023 displayed a mixed pattern. The market was relatively stable initially, influenced by weak demand from domestic steel and textile industries. Transactions were driven by immediate needs, impacting Hydrochloric Acid pricing dynamics. An abundant supply of Chlorine feedstock led to reduced production costs. The global economic slowdown, driven by monetary measures to combat inflation, resulted in reduced demand and average selling prices. Manufacturers maintained stable prices, anticipating a potential recovery amid uncertain global market conditions. Towards the quarter's end, Hydrochloric Acid prices rose due to increased industrial and construction activities, heightened demand, and a surge in new orders. Limited product availability, unable to meet growing demand, created a supply shortage, providing a favorable environment for suppliers to adjust prices upward.





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