For the Quarter Ending September 2023

North America

In Q3 of 2023, Succinic Acid prices experienced fluctuations in the North American region, influenced by a balance of moderate demand and supply dynamics. Initially, prices held steady with an uptick in import costs and extended logistics duration caused by disruptions in US shipping and freight routes due to lower water levels in the Mississippi and Ohio rivers, along with delays in shipping routes through the Panama Canal. Midway through the quarter, prices exhibited bearish movement as supply improved, coinciding with a drop in demand for acidity regulators from the food sector amid rising inflation. Towards the end of Q3, prices rose due to the impact of Hurricane Idalia on August 30, 2023, disrupting supply rates. Exporters tightened their supply due to stressed production rates and limited availability of feedstock Benzene supplies stemming from upstream Crude Oil production cuts by OPEC+ and Russia. In conclusion, Succinic Acid prices in the USA reached USD 1962/MT by the end of Q3 2023.

Asia

In the Asian region, Succinic Acid prices displayed mixed sentiments during the third quarter of 2023. Initially, prices were stable due to balanced demand-supply dynamics, with disruptions in the supply chain increasing logistics duration. Orders from the food sector were moderate, reflecting reduced consumption of acidity regulators. However, prices declined mid-quarter as international buyers placed fewer orders due to sluggish demand for acidity regulators in the food sector. Towards the quarter's end, prices surged noticeably, driven by inadequate inventory levels resulting from production and supply disruptions caused by Typhoon Saola in Southern China on September 2, 2023. Regional storms, including Doksuri and heavy rains, further stressed production and supply rates. Simultaneously, petrochemical manufacturers limited feedstock Benzene supplies due to upstream Crude Oil production cuts by OPEC+. Importers started restocking practices before the Golden Week holidays in Succinic Acid-producing China in October 2023. Succinic Acid prices in China and South Korea stood at USD 1842/MT and 1872/MT, respectively, at the end of Q3, 2023.

Get Real Time Prices of Succinic Acid: https://www.chemanalyst.com/Pricing-data/succinic-acid-1270

Europe

Similar to the Asian market, Succinic Acid prices fluctuated in Europe during Q3 2023. At the quarter's start, supply chain disruptions caused by the El Nino effect led to increased logistics duration for Asian imports. Demand remained low from Polyester manufacturers amid sluggish activities in the textile sector. Mid-quarter, buyers reduced orders due to sluggish demand for acidity regulators in the food sector, exacerbated by high energy prices and increased bank interest rates in Europe, resulting in a decline in demand and a slowdown in Eurozone growth. Towards the quarter's end, production rates decreased due to a weak availability of feedstock Benzene supplies amid Crude Oil production cuts by global refineries. Simultaneously, Asian exporters limited supplies before the Golden Week holidays in China, leading to a surge in international prices. In conclusion, Succinic Acid prices in Italy and the United Kingdom were USD 1987/MT and USD 2007/MT, respectively, at the end of the quarter.



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