For the Quarter Ending June 2023

North America

During the second quarter, the North American market saw a decline in Ammonium Chloride prices. This was primarily due to the decreasing prices of Ammonia and Natural Gas, which are used as feedstock. The US Bureau of Labor and Statistics reported a 2.6% decrease in the Natural Gas Index for the fourth consecutive month. The global economic slowdown and rising inflation also played a role in this trend. Buyers were hesitant to make large purchases due to inflation and increased interest rates, causing traders to keep prices low. Additionally, low water levels in the Mississippi River due to heat affected imports to other countries, resulting in an excess supply of Ammonium Chloride in the market. Overall, the market for Ammonium Chloride remained bearish during this quarter, largely due to a lack of buying enthusiasm from end-user fertilizer companies. However, the Consumer Price Index of the USA showed a marginal rise and is expected to increase further, according to the Federal Reserve of Economic Data.

APAC

In the second quarter of 2023, the APAC region experienced a significant decrease in Ammonium Chloride prices. This decline was primarily driven by the decreasing prices of Ammonia and Natural Gas, which are used as feedstock. In June, the recorded price of Ammonium Chloride was USD 86/MT on an Ex-work basis. During this quarter, bulk purchases decreased as buyers were cautious due to inflationary pressures. As a result, traders were forced to keep prices low. Additionally, China's exports have been declining for the past three months, leading to an oversupply of Ammonium Chloride in the market. The Purchasing Manager Index in China also declined, indicating a decrease in industrial growth. In India, below-normal rainfall caused a decrease in Kharif sowing, further weakening the fertilizer market. These factors, combined with declining demand from end-user markets, contributed to a narrow demand-supply gap.

Get Real Time Prices of Ammonium Chloride: https://www.chemanalyst.com/Pricing-data/ammonium-chloride-1482

Europe

The Ammonium Chloride market in Europe remained bearish during the second quarter of 2023. The prices were negatively affected by weak demand from the end-user fertilizer industry, as well as growing inflation and a global economic slowdown. The European Central Bank increased interest rates in an attempt to control inflation. Heavy rainfall and unfavorable climate conditions in the Netherlands and the United Kingdom also impacted farming activities in the region. Additionally, a blast in a major Ammonia pipeline that transported Ammonia from Russia via Ukraine disrupted supplies and contributed to an oversupply of the material in Russia. The Producers Price Index of the region declined and is expected to continue declining, according to Eurostat. Overall, the market situation for Ammonium Chloride remained bearish during this quarter, with low buying enthusiasm from the end-user fertilizer segment amidst growing inflation in the region.