Bromine Prices Remained Weak in Asia throughout December 2023

Bromine prices fell exhibiting a weak trend throughout the month of December 2023. The major reason behind the dipping bromine prices in December were the sluggish acquisition from the downstream and intermediate industries, making the market weak amid ample supply. The analysts of Procurement Resource reported a m-o-m decline of 1.39% in the prices of bromine in India for December 2023 compared to November 2023.

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November began with a slight increase in the costs of bromine in China, which was mainly witnessed due to the decline in production, leading to low availability and high demand from the downstream industries.  A slight hike in the costs of bromine was noticed during the beginning of November 2023 in China. The low production of seawater bromine lowered the supply in the chemical market, resulting in an increase in the prices, meeting the demand acquired from the downstream industries.

Sufficiency in Supply Drew Stability in the Sales

Despite the low production observed in the bromine market, manufacturers managed to maintain the production from other sources, thus maintaining the availability in China. The supply coverage helped in anchoring some stability in the sales, ensuring a fine demand-supply system throughout the period. However, this phase called for a moderation in the demand acquired from the downstream industries, proposing a weak pricing strategy in China by the suppliers.

Bromine Prices Were Shaky Throughout December 2023 Observing a Weak Market in Asia

A cold climatic condition observed in the Asian regions impacted the supply of bromine in the Asian market during December. However, the producers managed to keep up with the market demand and ensure continuity in the supply chain amid moderation in the requirements. The month ended exhibiting a weak demand-supply trend, concluding an oscillating pricing status in the Asian regions.

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According to Procurement Resource, bromine prices remained weak throughout the month of December, due to comparatively higher supply and lower demand acquisitions from the intermediate and downstream industries. The bromine prices are expected to remain fragile; however, the demand-supply balance in the Asian regions in the upcoming months will hugely determine the price trend.