The prices of Acetic Acid have shown a sharp decline at the beginning of the quarter and then prices have declined with slower rate during the second half of Q2. This was mostly due to economic uncertainty amid high inflation and rising interest rate to control inflation which led to a decrement in demand from the downstream industries like VAM, Acetate, and Anhydride.

An overall monthly upward trend has been observed during April 2023, owing to the recovery in the downstream operational activities. Due to the increased commodity prices, the Chinese market faced competitive pressure to meet the requirement, which has led the prices of n-butanol to grow due to the limited stock volume available. Nonetheless, Labour Day has also contributed to the significant rise in n-butanol prices during the first week of May.

The average pricing trend of n-butanol during the second quarter in the European market remained marginally weak compared to the first quarter, which is demand driven from feedstock propylene prices. However, a minimal upward price trend was observed during April 2023, amid subsided destocking in the European market.

During the subsequent quarter, the Iso-butanol market in Asia remained possibly raised contrasted with the first quarter because of the upliftment in quite a while. A general month to month up pattern has been seen during April, trailed by the primary quarter in the midst areas of strength for of interest from the downstream Paint and covering industry. According to the Public Agency of Insights (NBS) information, the worth added industry development pace of China rose from 3.9% (Walk) to 5.6% (April).

During the second quarter, several countries in Middle East Asia showed different pricing trends. The second quarter of Saudi Arabia has experienced a minimal decreasing trend, followed by the previous quarter. Base oil from Russia has been imported to Saudi Arabia at an alternative cheaper price after sanction from Europe for their own consumption.

In the second quarter of 2023, the US Coal market experienced a bearish trend. In both the first and last month of the quarter, Coal prices declined by approximately 8% and 5.5%, respectively. This price drop was primarily attributed to a surplus of brown Coal supply in the US market and a low demand from overseas. The ample availability of brown Coal led to downward pressure on prices. Moreover, the mining and exploration sector experienced a boost in activity during April and May 2023, which further contributed to the increased supply of Coal in the country. This surge in mining and exploration was seasonal, adding to the already abundant Coal supply. However, in May 2023, there was a slight recovery in US Coal prices as they increased 3.3% during this month.

In April 2023, product prices were stable at USD 93/MT, primarily due to a balanced gap between demand and supply. However, in May and June, the value of Fly Ash experienced respective declines of approximately 2% and 1%. During the final two months of Q2 2023, the Bearish Market situation was primarily influenced by the smooth and cost-effective importation of Fly Ash from overseas. These imports further influenced the prevailing price trends.

During the second quarter, India's overall Jet Kerosene market significantly declined compared to the first quarter. A Downtrend of Jet Kerosene prices in India was observed for another quarter of 2023 due to feeble demand from the downstream aviation sector. The global sector has been planning for alternative fuel, influencing the product's demand. However, Indian producers have not faced any difficulties during production, amid sufficient inventories supporting the market demand. Product supplies were stable enough throughout the quarter in the domestic market

During the second quarter, the overall Crude oil market in the US contracted as compared to the first quarter, which was highly influenced by the volatile market sentiment and changing demand. During the first two weeks of April, Crude oil prices had increased by 3.38% due to induced market sentiments despite having announcement of production cuts by OPEC+ countries. As per the data, the Industrial Production Total Index in the US rose from 102.6 (March) to 103.1 (April) amid economic activities to improve.

During the second quarter, the Triethanolamine market in the US remained weak as compared to the first quarter. The Triethanolamine market continued to continue to decrease until the third week of May amid a steep fall in feedstock Ammonia and Ethylene Oxide. The 56.5% drop in feedstock prices from April to June was closely related to the markdown prices of Triethanolamine. Additionally, ample product availability and a falling US economy contributed to the slower product demand. As per the data, the Industrial Production Total Index fell from 103.1 (April) to 103 (May), causing trading activities to be low. Despite having soft feedstock prices, the cost of Triethanolamine has climbed amidst rising inflationary pressure on producers due to a minor shortage in the market and marginal improvement in consumer demand to settle at 1326 USD/tonne FOB Texas during the third week of June. Additionally, the application of Triethanolamine in the US construction and automotive sector has improved, significantly affecting the price trend.

The PVC price trend in Saudi Arabia was down in the quarter ending June 2023 due to reduced demand in the construction sector amidst the festive season in Saudi Arabia in April 2023, whereas in May, construction activities improved slightly, as per the statement of the Chief Economist of the Riyadh Bank, however this rise in insufficient to drive up the PVC prices amidst high supplies. Moreover, the buying confidence was hindered in Saudi Arabia at the termination of June 2023 by the sluggish offshore demand for PVC and the muted trading atmosphere after one week of the EID holidays in the Saudi market.

In Europe, EDC (Ethylene Dichloride) prices were low in the Quarter ending June 2023, backed by the lower offtakes in the downstream sectors, including the PVC manufacturing segment. The major factor influencing EDC demand in the PVC industry was a steep decline in construction offers and ample availability of inventories as interest rates continued to increase and weighed on consumer spending throughout the Quarter.

The HDPE market has shown a downward trend throughout Q2 in North America as the demand from downstream packaging and construction industries has been observed to be sluggish. The ample product availability in the market has kept the prices low. Further, the primary reason for unhealthy buying conditions has been the slowdown in the economic conditions post the US banking crisis and persistent inflation with fluctuating market dynamics.

Prices of Ammonium Nitrate showcased a downward trajectory throughout the second quarter ending in June 2023 in the APAC region. The Ammonium Nitrate spot Ex prices declined by a margin of 5.1% in China and by 5.6% in Indonesia. The prices declined in China on the back of a decline in feedstock Ammonia and Thermal Coal prices.

The prices of Ammonia showed a downward trajectory throughout Q2. The prices declined by 17.9% in April 2023, 12.9% in May 2023, and 12.8% in June 2023. The key driving factor behind the declining trend of Ammonia in the USA was diminished demand from domestic and international markets. The Ammonia market was mostly oversupplied, coupled with low procurement orders from the end-user market, paving the way for narrowed demand-supply gap. Further, declining demand for Diammonium Phosphate, Ammonium Sulphate, and Mono Ammonium Phosphate fertilizers also supported the price trend.

The Epichlorohydrin (ECH) market in the United States observed a decrease in its prices during the second quarter of 2023. This decline was mainly attributed to the reduced feedstock Propylene cost and increased production of raw glycerine. During this period, the price of feedstock Propylene decreased by around 18.5%, 12.8%, and 8.5%, respectively. As a result, the price of ECH decreased by approximately 5.5%, 1%, and 3.5% in April, May, and June, respectively.

According to ChemAnalyst report, “Global Hydrogen Peroxide Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2032”, The Hydrogen Peroxide market is likely to experience a significant increase by reaching 7800 thousand tonnes in 2032, at an expected CAGR of 5.88% in the forecast period. The increasing demand of Hydrogen Peroxide by numerous downstream end-use industries owing to its oxidizing properties is anticipated to swell the demand for Hydrogen Peroxide by 2032.