Ammonium Chloride Prices: During the second quarter of 2023 | ChemAnalyst

<div class=”separator”><strong>For the Quarter Ending June 2023</strong></div>
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<p><strong>North America:</strong></p>
<p>Throughout the second quarter, the North American&nbsp;<a href=”https://www.chemanalyst.com/Pricing-data/ammonium-chloride-1482″ ><strong>Ammonium Chloride</strong></a>&nbsp;market experienced persistent price weakness. The decline was predominantly driven by decreasing prices of feedstock Ammonia and upstream Natural Gas. The US Bureau of Labor and Statistics reported a 2.6% decrease in the Natural Gas Index for the month, marking the fourth consecutive decline in that index. The prevailing trend was further influenced by the global economic slowdown and rising inflation. Buyers hesitated to engage in bulk purchases amidst heightened inflation and increased interest rates, leading traders to adjust prices downward. Additionally, low water levels in the Mississippi River, caused by heat, impacted exports to other countries. Consequently, an oversupply of Ammonium Chloride material was observed in the market. Overall, the Ammonium Chloride market in this quarter retained a bearish stance due to muted buying interest from the end-user fertilizer segment. However, Federal Reserve Economic Data revealed a marginal increase in the Consumer Price Index of the USA from 302.91 in April 2023 to 303.29 in May 2023, with expectations of further increases.</p>
<p><strong>APAC:</strong></p>
<p>In the APAC region, the second quarter of 2023 saw a significant decrease in Ammonium Chloride prices. This decline was primarily attributed to decreasing prices of feedstock Ammonia and upstream Natural Gas. Notably, the price of Ammonium Chloride on an Ex-work basis recorded USD 86/MT in June. Throughout the quarter, cautious buyers refrained from bulk purchases due to prevailing inflationary pressures, prompting traders to adjust prices downward. Additionally, China’s exports experienced a three-month decline, plummeting by 12.4%. This surplus availability of material contributed to oversupply conditions in the market. The Purchasing Manager Index, as indicated by the National Bureau of Statistics China, declined to 48.8 in May 2023, falling 0.8% from the previous month, accompanied by a decrease in industrial growth rate from 5.6 in April 2023 to 3.5 in May 2023. India’s Kharif sowing also suffered an 8.4% drop due to below-normal rainfall on a YoY basis, further weakening the fertilizer market. Coupled with waning demand from end-user markets and material availability, this led to a narrow demand-supply gap.</p>
<p><strong>Ammonium Chloride Prices:&nbsp;<a href=”https://www.chemanalyst.com/Pricing-data/ammonium-chloride-1482″>https://www.chemanalyst.com/Pricing-data/ammonium-chloride-1482</a></strong></p>
<p><strong>Europe:</strong></p>
<p>In Europe, the Ammonium Chloride market exhibited a bearish trend during the second quarter of 2023. The decline in prices was driven by weak demand from the end-user fertilizer industry, aggravated by growing inflation and a global economic slowdown in the region. The European Central Bank responded by raising interest rates to curb inflation. Adverse weather conditions, including heavy rainfall, impacted farming activities in the Netherlands and the United Kingdom. Additionally, a major blast in an Ammonia pipeline used to transport the material from Russia via Ukraine disrupted supplies, contributing to surplus availability in Russia. Eurostat data revealed a decline in the Producers Price Index, dropping from 143.4 in March to 138.3 in May, with an average decline of 3.6%. The overall market situation for Ammonium Chloride remained bearish during the quarter, characterized by subdued buying enthusiasm from the end-user fertilizer segment in the backdrop of rising regional inflation.</p>
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