Prices of Hydrochloric Acid Dropped Amid Low Purchasing Enthusiasm in Asia During December 2023
The prices of hydrochloric acid witnessed a constant decline amid low demand acquisition in the Asian market during December 2023. Moreover, the price drop observed in the liquid chlorine market (feedstock for hydrochloric acid) caused a steep fall in the prices of hydrochloric acid, as well. Analysts of Procurement Resource reported a notable m-o-m decline of approximately 4.47% and 0.28% in India and China, respectively.
November Began with a Price Drop in the Hydrochloric Acid Market Due to the Low Costs of Liquid Chlorine
Prices of liquid chlorine exhibited a notable decline in the initial weeks of November, which was affected due to the weak demand obtained from the downstream industries. Liquid chlorine, being a feedstock used for the production of hydrogen chloride or hydrochloric acid, had a negative impact on its prices throughout the month. Additionally, weak purchasing activities in the chemical market for hydrogen chloride pulled the prices down, causing a downturn.
The Negative Momentum in the Prices for Hydrogen Chloride Remained Same Throughout December as November 2023
Initially, the demand for hydrogen chloride acquired to produce polyaluminium chloride or PAC witnessed minor fluctuations and increased. The condition of attaining fine demand from the PAC production units helped in stabilizing the weak purchasing activities that occurred in the hydrochloric acid market. However, the drop observed in the prices of liquid chlorine, another feedstock for hydrogen chloride, left a strong impact on the overall price of hydrogen chloride, maintaining low costs throughout the month of December 2023.
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According to Procurement Resource, the prices of hydrogen chloride or hydrochloric acid depicted a negative curve throughout December 2023. The analysis reported a m-o-m sharp decline of approximately 0.28% and 4.47% in China and India, respectively. The prices were affected due to various complex factors, including weak demand acquisition and low feedstock prices. The market is expected to maintain a negative pace, amid the declining feedstock prices in the upcoming months, as well.
