Isopentane Prices: In the second Quarter of 2023 | ChemAnalyst

North America:

Isopentane prices saw a decline throughout the second quarter, concluding in June 2023. This decline can be attributed to the fluctuating prices of upstream crude oil and weakening demand from the refrigerant market. Additionally, in response to growing global inflationary pressures, the government has raised interest rates significantly within the region, dampening consumer buying enthusiasm. The collapse of two major US banks has further impacted the prevailing price trend. The US Bureau of Labor and Statistics data indicates a decline in exports from the United States to other countries over these three months. The low water level in the Mississippi River due to high temperatures severely affected exports, resulting in increased stockpiled inventories domestically. Coupled with diminishing demand from end-user segments, these factors contributed to narrowed demand-supply dynamics within the country. Moreover, deteriorating economic indicators, such as the Purchasing Managers Index, suggested reduced economic activity in the nation, potentially affecting Isopentane demand. FRED data illustrates the depreciation of the Purchasing Managers Index throughout the quarter.

APAC:

Pessimistic market sentiments characterized the Isopentane market in India throughout the second quarter of 2023. Depreciating demand and volatile prices of upstream crude oil were the primary drivers of these pessimistic sentiments. The price experienced a significant decline of 14.2% during the quarter, settling at INR 1882 by June 2023 on an EX-work basis. Furthermore, Saudi Arabia’s OPEC-led decision to reduce oil output by 500 Mb/d for the rest of the year, announced at the quarter’s outset, also impacted the global Isopentane price. Despite this, the Consumer Price Index in India, as reported by the National Bureau of Statistics and Program Implementation, rose by 0.1% in May. In addition, mounting inflationary pressure in China led consumers to be cautious in making bulk purchases during this period. China’s National Bureau of Statistics revealed a declining Purchasing Managers Index of 48.8 in May 2023, down by 0.8% from the previous month, along with a decrease in industrial growth from 5.6 in April 2023 to 3.5 in May 2023. These economic indicators pointed to reduced economic activity and a potential impact on Isopentane demand.

Isopentane Prices: https://www.chemanalyst.com/Pricing-data/isopentane-1524

Europe:

Isopentane prices in the European market experienced a decline throughout the second quarter of 2023. Weakening demand from downstream industries, coupled with heightened interest rates, contributed to this decline. Moreover, an ongoing strike in France disrupted supply chains, resulting in ample material availability in the European market. Alongside depreciating demand, this led to narrowed demand-supply dynamics in the region, impacting Isopentane prices. Despite a slowdown in inflation in Germany to 5.6% in June from 6.1% in May, inflation remained above average levels. German Federal Statistical Office data revealed a 0.1% decline in the Consumer Price Index in May compared to the previous month. Eurostat data indicated a drop in the Producers’ Price Index from 143.4 in March to 138.3 in May, with an average decline of 3.6%. These declining economic indicators hinted at reduced economic activity, potentially affecting Isopentane demand.