Hydroquinone Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst

For the Quarter Ending September 2023

North America

In the third quarter of 2023, the North American Hydroquinone market experienced a notable depreciation. From July to September, FOB Houston prices for Hydroquinone witnessed a decline, dropping from $7,180/mt to $5,360/mt, marking the conclusion of the quarter. This price fluctuation clearly signaled a preference for reducing price levels, resulting in an average quarterly decrease of 8.82%. The global Hydroquinone market, during this period, faced an oversupply predicament, leading to a noticeable drop in market value. Complicating matters, domestic traders strategically accumulated substantial inventories of Hydroquinone. To mitigate potential losses, these traders opted for a tactical move by lowering their price quotes, further driving down overall market prices. While the third quarter did witness a modest slowdown in inflation, mainly due to significant economic shifts in the United States, market participants remained vigilant due to the Federal Reserve's decision to raise interest rates. The decrease in Hydroquinone prices can be largely attributed to a substantial reduction in the cost of its primary raw material, Phenol. The cost support from upstream Benzene was also limited, as its prices didn’t undergo any significant changes. Conversely, the notable rise in U.S. crude exports during 2023 exerted downward pressure on oil prices in Europe and Asia, proving to be a crucial supply source amid reduced output and disruptions in Russian crude trade flows. This factor played a crucial role in influencing the manufacturing cost of Hydroquinone in exporting countries.

Asia Pacific

In the third quarter of 2023, the Hydroquinone market in the Asia Pacific witnessed a significant and favorable shift. Prices declined from $7,430 per metric ton in July to $6,450 per metric ton CFR Shanghai in September, indicating a significant change and resulting in an average quarterly drop of 4.47%. A key factor contributing to this change is the substantial decrease in Hydroquinone prices, driven by a notable reduction in raw material costs, specifically in Phenol, within the domestic market of the exporting countries. The backdrop of this price reduction has been shaped by the economic landscape, notably in China, the world's second-largest economy. The Chinese economy experienced a slowdown that extended from the first half of 2023 into the second half, casting a shadow over the start of the third quarter. This deceleration can be attributed to a combination of factors, including increased deflation, a surge in youth unemployment, and weakened domestic demand. Adding to this dynamic, the Chinese market, as a major importer of Hydroquinone, and Europe, as a leading exporter, have closely followed the pricing trends of the European market. As a result, this price decrease is reflective of the broader global market dynamics.

Get Real Time Prices of Hydroquinone: https://www.chemanalyst.com/Pricing-data/hydroquinone-1392

Europe

In the third quarter of 2023, there was a significant shift in the pricing landscape of Hydroquinone in Europe, with a slight drop from $7,375 per metric ton in July to $6,415 per metric ton FOB Le Havre by September. This pattern indicated a significant price decline, resulting in an average quarterly decrease of 6.46%. This change was primarily spurred by a global oversupply of Hydroquinone, which had a profound impact on its market value. Adding to the complexity of the situation, domestic traders opted to build substantial inventories of Hydroquinone. To navigate this challenge and curtail potential losses, they strategically decided to decrease their price quotes, effectively contributing to a broader market devaluation. The notable decrease in Hydroquinone prices can be linked to a significant reduction in the cost of its primary raw material, Phenol. This pivotal shift influenced the overall manufacturing cost of Hydroquinone in exporting countries, thereby driving prices lower. In terms of manufacturing, Hydroquinone production in China has been closely tied to customer demand, adapting to market dynamics. During this period, a decrease in demand was observed, not only domestically but also from international markets. This synchronized drop in demand further bolstered the market dynamics in the third quarter.

 

 

 

 

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