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Barite Prices, News, Monitor

The price of Barite in the USA saw a decline in the second quarter of 2023, influenced by several factors, including the deteriorating economic conditions, rising inflation rate, and a debt crisis. The downfall of major banks across the USA triggered a debt crisis that had adverse effects on the Barite market. Simultaneously, the ongoing trade tensions between the USA and China disrupted supply chains, leading to reduced demand from overseas markets. The downstream paint industry experienced reduced demand as automotive sales declined due to decreased purchasing power in the US spot market.

Germanium Prices, News, Monitor

In the second quarter of 2023, the price of Germanium in the United States experienced a decline, influenced by several factors, including deteriorating economic conditions and a slowdown in the downstream automotive and semiconductor industries. The US government faced economic challenges in June, triggered by the failure of several banks across the country, leading to a debt crisis. Rapidly rising inflation rates prompted the local government to implement an interest rate hike to stabilize the situation. This, in turn, discouraged local buyers from placing significant orders.

Chequered Plate Prices, News, Monitor

The declining state of the economy was the primary driver behind the decrease in Chequered Plates prices. The second quarter witnessed a downturn in the US economy due to the widespread failure of major banks, triggering a debt crisis. Rising interest rates and inflation cast a negative shadow on the market sentiment. The weakened economy eroded consumers' purchasing power and led to higher levels of local Stainless Steel inventory. In the first half of 2002, Chequered Plates prices steadily increased as the price of nickel, a key feedstock, rebounded. US mills maintained a high base price, and the inclusion of alloy fees further pushed up prices in the US spot market.

Melatonin Prices, News, Monitor

In the second quarter of 2023, the Melatonin market in North America witnessed a significant price decline. Prices for FOB New York plummeted from $132,200 per metric tonne to $115,000 per metric tonne between April and June, marking a 13% decrease over the quarter. The primary driver behind this substantial price drop was the sharp decrease in Melatonin demand from downstream industries in the US, primarily due to regional suppliers' overstocking. Despite divergent opinions on the price of Nutraceuticals and APIs, North America's nutraceutical sector exhibited a fragmented market activity pattern. During this period, the nation experienced a temporary dip in its inflation rate, attributed by economists and industry experts to reduced supply chain pressures, though it was seen as a transient blip. However, the persistently high labor costs raised concerns about sustained inflation, potentially prompting the Federal Reserve to consider raising interest rates in July. Uncertainty about the US economy's performance led market participants in the food and dietary supplement sectors to adopt a cautious approach.

Urea Prices, Pricing, News, Monitor

In the second quarter of 2023, the North American Urea market witnessed prevailing pessimistic sentiments. The decline in Urea prices was primarily attributed to the diminishing prices of its feedstock, Ammonia, and upstream Natural Gas. According to data from the US Bureau of Labor and Statistics, the Natural Gas Index registered a 2.6% decrease in the month, marking the fourth consecutive decline. Low water levels in the Mississippi River, caused by high temperatures, disrupted exports from the USA to other countries, resulting in surplus availability of Urea in the market.

Magnesium Sulphate Prices, Price, News, Monitor

During the second quarter of 2023, Magnesium Sulphate prices in North America experienced a bearish trend. Initially, the strengthening of the US dollar led to a decrease in the import prices of MgSO4. Prices remained stable but saw a slight decline due to moderate demand and rising labor costs caused by labor shortages resulting from a regional economic recession. Additionally, the demand for MgSO4 fell during the quarter, primarily due to reduced offtakes from fertilizer industries, which was influenced by a global decrease in demand for agrochemical products by farmers. Consequently, inventory levels increased, leading exporters to lower their quotations in an attempt to boost sales.

Stainless Steel HR Coil Prices Price Trend Forecast

During the second quarter, the price of Stainless-Steel HR Coil in North America experienced a decline, primarily attributed to the deteriorating economic conditions. The USA's economy saw a downturn as major banks faced crises, leading to a debt crisis. The combination of rising inflation rates and increased interest rates cast a pessimistic shadow over the market sentiment. Consequently, the weakened economic state reduced buyers' purchasing power and led to a surge in local Stainless Steel inventory levels. Initially, the first half of Q2 witnessed a sustainable rise in Stainless-Steel HR Coil prices, driven by a rebound in feedstock Nickel prices. US mills maintained high base prices, and the addition of alloy surcharges further boosted prices in the US spot market.

Galvanized Plain Sheet Prices During the second quarter of 2023

In June 2023, the US spot market for Galvanized Plain Sheet witnessed an overall price decline, primarily driven by the deteriorating economic conditions within the country and an increase in inventory levels. At the outset of the second quarter, there was a glimmer of hope as prices remained high in April. However, production cuts were evident in April when Nucor Yamato, a joint venture between US Nucor and Japanese Yamato Kogyu, temporarily shut down operations from April 9th to 16th. Nucor mill increased Galvanized Plain Sheet prices slightly as lead times decreased from 8-10 hours to 8-9 hours. In the latter half of the second quarter, prices took a downward trajectory. Mounting economic uncertainties, exacerbated by the debt crisis following the collapse of major US banks, cast a pessimistic shadow over the market sentiment.

SMO 254 Prices, Price, Pricing, News, Monitor

In the second quarter of 2023, the US market for SMO254 Sheets initially saw an increase in prices during April, followed by a downward trend in the latter part of the quarter. The upswing in April can be attributed to the global rise in the cost of the raw material, Nickel, which provided essential cost support for the production of SMO254 Sheets. The Consumer Price Index indicated a strong start to the quarter due to robust purchasing activity, signaling a positive economic beginning. High domestic demand in various downstream sectors maintained healthy consumption rates. The service sector experienced significant growth, allowing them to offer their services at higher prices due to increased market demand. However, in the second half of the quarter, prices began to decline, mainly due to concerns over a debt crisis and rising inflation rates.

Cold Rolled Coil Prices, Pricing, News, Monitor

During the second quarter of 2023, Cold Rolled Coil (CRC) prices in the United States initially saw an uptick in April before undergoing a subsequent overall decline. In the first month of the quarter, CRC prices in the US spot market rose as local mills maintained a high base price, fostering a positive market sentiment for both domestic and international buyers. Delivery times improved, reducing from 7-9 weeks to 7-8 weeks, leading to lower local inventory levels and increased CRC prices in the US spot market.

Aluminium Wire Prices, Price, News, Monitor

In the second quarter of 2023, Aluminium Wire prices in North America experienced a decline driven by uncertain economic conditions and a rising inflation rate. In April, a decrease in Aluminium Wire prices occurred due to reduced demand from the downstream construction industry. Surplus availability of imported Aluminium Wire at lower prices from the overseas market led local mills to lower their offer prices. In May, a debt crisis stemming from the simultaneous downfall of major banks in the USA had a significant impact on the US market. This crisis prompted buyers to withhold placing large orders, anticipating further price declines. Tariffs were imposed to boost consumption of locally manufactured Aluminium Wire and reduce inventory levels in the US spot market. Despite the tariff imposition, high inventory levels persisted as consumption rates decreased in the USA, leading the US government to impose countervailing duties on imported Aluminium Wires from the European and Asian markets.

Zinc Ingot Prices, Price, Pricing, News, Monitor

In the second quarter of 2023, Zinc Ingot prices in North America experienced a notable decline, primarily driven by reduced demand from the construction and automotive sectors. The construction industry witnessed a slowdown due to seasonal factors, with the arrival of the monsoon affecting construction activities negatively. This decline in construction activity led to decreased demand for Galvanized steel, ultimately increasing Zinc Ingot inventories. Economic instability, stemming from a debt crisis caused by the downfall of major banks in the USA, further contributed to the pessimistic sentiment in the Zinc Ingot market.

Resorcinol Prices, News, Monitor

In the second quarter of 2023, Resorcinol (m-dihydroxybenzene) prices in the US market experienced a significant decline, primarily attributed to erratic fluctuations in supply and demand dynamics. Retail sales saw a decline due to high inflation, with retailers grappling with bloated inventory levels ordered to meet demand surges during the pandemic, despite stagnant consumer demand. Additionally, reduced travel fares added to the deceleration in economic growth. Weak demand and high inventory levels adversely affected market trading fundamentals. Furthermore, the global drop in phenol raw material prices exerted additional downward pressure on Resorcinol prices. Import figures dwindled as US companies grappled with the challenge of reducing their sizable inventories. The country's largest container port also witnessed a decrease in import volumes. Despite demand plateauing, retailers faced inflation-related concerns as they maintained their inventory levels to address heightened pandemic-related demand and potential future shortages.

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Potato Starch Prices, Price, Pricing, Monitor

In the second quarter of 2023, the US potato starch market witnessed fluctuations in price and market conditions. The initial two months of the quarter experienced consistent price growth, attributed to intricate supply and demand dynamics. The intensified demand from end-user suppliers created a modest potato starch shortage in domestic warehouses, consequently driving prices higher. Post the termination of the zero-resistance policy against COVID-19, trade between Asia and the United States surged. However, by early June, prices began to decline, marking a significant slowdown in the development of the US potato starch market. The market sentiment grew somber due to declining demand from local downstream industries. Against this backdrop of weakened demand, excessive inventories compelled suppliers to offer products at reduced prices. With falling prices, traders are hesitant to commit to bulk orders, as further price drops are anticipated, primarily driven by major players in the US potato starch market.

Corn Starch Prices, Price, News, Monitor

The US corn starch market encountered volatility during the second quarter of 2023. The initial two months of the quarter witnessed consistent price escalation attributed to disruptions in supply and demand dynamics. A moderate shortage of corn starch in domestic warehouses ensued due to heightened demand from end-user suppliers, consequently driving market prices upwards. Following the abolition of the zero-resistance policy against COVID-19, trade between Asia and the United States increased. Moreover, rising production costs of corn starch, fueled by escalating corn and input prices, added to the upward pressure on prices. However, by early June, prices started declining due to weakening demand, leading to surplus inventory and prompting suppliers to implement price reductions. The ongoing economic instability in the US coupled with rising global inflation rates contributed to reduced corn starch demand.

Rapeseed Oil Prices, News, Monitor

Throughout Q2 2023, rapeseed oil prices in North America mirrored the trends seen in the European market. The downward trajectory of rapeseed oil prices persisted from Q1 2023 until June 2023, signaling an ongoing subdued market sentiment for this oil variant. The market continued to grapple with challenges such as high rapeseed oil stocks in North America, ample supply from European buyers, and Russia's suspension of black sea grain trade. This suspension had a cascading effect on exports from Ukraine, one of the major producers, resulting in reduced supply. Compounded by the sharp decline in crude oil prices and significantly decreased offers for Russian edible oil and grain, the market witnessed a substantial downturn, impacting prices of corn, rapeseed, and other grains.