European Chlorine Price Trend Fluctuates; Unstable Rates of Caustic Soda in Q4 of 2023
The chlorine price trends oscillated during the fourth quarter of 2023. The chlorine production in the European market stood at approximately, 580,000 tonnes. The average production of the European chlorine market was approximately over 18,000 tonnes in October 2023, marking a high of 0.9% compared to the production in October 2022, and a low of 4.5% than in September 2023. The production capacity reached roughly over 600,000 tonnes. With an average daily production of 20,000 tonnes (approx), marking a high of 6.6% when compared to that of October 2023, along with a high of 9.2% than that of November 2022.
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Caustic Soda and Chlorine: A Chlor-Alkali Interplay
Akin to the price trends of Chlorine, the caustic soda market was no different! The prices of Caustic soda heavily wobbled in the fourth quarter of 2023 in the UK. The spot prices in the UK ranged from 110-140 USD/MT in October to 110-120 USD/MT in December.
The production depicted a drop, marking 17.9% lower than that of the production rate seen in September 2023. On the other hand, the production analysis of caustic soda in October 2023 was over 27,500 tonnes above the production viewed in October 2022.
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The production reached around 211400 tonnes during November 2023 for caustic soda, which marked a low of approximately 0.8% compared to the rate in the previous month. Similarly, it marked a low average production of 18,051 tonnes, which was below the level of November 2022.
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According to Procurement Resource, the European chlorine market kept fluctuating throughout the fourth quarter of 2023. The production kept oscillating, marking a high and low on being compared to the previous market performances. A similar trend was marked in the production rates of Caustic soda in the European market, which depicted an undulation in the global chemical market, as well.
