Hexene Price Trend and Forecast

Hexene Regional Price Overview

Get the latest insights on price movement and trend analysis of Hexene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Hexene Price Trend For the Q3 of 2024

Asia

The Asian hexene market experienced a fluctuating yet downward trend this quarter. Weak downstream demand and falling spot prices of feedstock benzene initially drove prices down. A brief rebound occurred due to escalating Middle East tensions, but this was short-lived. Subdued international and domestic demand soon became the dominant factor.
 

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Well-stocked ports and cautious buyers, adopting a wait-and-see approach due to low market confidence, further contributed to the decline. The falling crude oil prices weakened upstream cost support, as benzene spot prices continued to drop, negatively impacting hexene pricing in the Asian domestic market.

Europe

European hexene markets mirrored this trend, with prices declining throughout Q3'24. Geopolitical conflicts affected market fundamentals, leading to weak demand and excess supply. Non-OPEC nations increased production, offsetting OPEC+ members' decision to postpone removal of additional production cuts aimed at market stabilization. This resulted in an accumulation of excess product which, combined with underwhelming demand, drove hexene prices down.

North America

US domestic market dynamics aligned with the global outlook, with hexene prices trending towards the lower end of the range. The petrochemical and allied sectors felt the significant impact of falling crude oil prices. Tepid customer demand, coupled with lower feedstock benzene prices, further contributed to the downward pressure on hexene prices during the period under discussion.

Analyst Insight

According to Procurement Resource, Hexene prices are expected to maintain similar trajectory in the coming months. Market fundamentals are expected to be significantly impacted by the ongoing volatility in the crude oil market and persistent geopolitical tensions.
 

Hexene Price Trend for the Q2 of 2024

Asia

After a surge in the first quarter, the growth of hexene prices slowed down during the second quarter of the year 2024. This price trajectory was primarily attributed to the fluctuation in the petrochemical industry that was heavily influenced by the variations in the crude oil markets. During the first quarter, the prices were on an inclined path since both the upstream and downstream dynamics supported the inclination in hexene rates. However, as the second quarter set in, the price trajectory reversed completely.

Particularly, in Asia, easy accessibility to Russian oil for both India and China kept the inventories filled. Private players also took advantage of the situation as the imports showed a staggering rise over the past some time. With this, the gap between supply and demand dynamics largely remained balanced. Prices showed some upliftment; however, they were mostly confined for the entire three-month span of Q2’24.

Europe

The price-performance for hexene was not much different in the European markets. Just like in Asia, the hexene prices were seen fluctuating here as well. Primarily, it was the fluctuation in feedstock ethylene prices that drove the hexene markets around this time. Given the market ambiguity, the OPEC countries decided to extend their voluntary production cuts in their annual meeting in June to stabilize the petroleum and petrochemical markets globally. With this push and pull, the hexene prices exhibited a moderate performance in the European markets.

North America

The American hexene market also closely followed its Asian and European counterparts during the second quarter of the year 2024. The prices were found to be oscillating within close limits here as well. After some sliding in the first half of the said quarter, the prices saw some marginal normalization in the latter phase of the quarter as the supply and demand trajectories started getting more balanced. Overall, a varying price-performance was observed.

Analyst Insight

According to Procurement Resource, going forward, the market projections look optimistic. Since the market stabilization efforts are paying off, Hexene prices are expected to improve moving ahead.
 

Hexene Price Trend for the Q1 of 2024

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Asia

Hexene prices heavily mimicked the price fluctuations in its feedstock material, ethylene, during the said period. The hexane prices were seen to be following an upward trajectory for the most period of Q1’24. The OPEC+ had announced a cut down in their output for this summer season, which quickly inflated the global crude oil market.

The effect got rippled for almost all petrochemical products including hexene. In the Chinese market, the steady economic recovery in the post-COVID phase promoted the downstream demands for hexene slightly. Similarly, in the Indian market, the prices showcased similar upward fluctuations. The end-user consumption in the polymer and chemical industries also saw a rise, especially in the later phase.

The rising energy and processing costs, with labor and freight getting expensive, also forced suppliers to push up the prices in order to sustain the revenue margins. So, with both upstream and downstream factors supporting the trade dynamics, the hexene price trends escalated marginally in the Asian markets. Overall, positive market sentiments were witnessed in Q1’24.

Europe

In the European region, the Russia and Ukraine war stepped into its third year. While retaliating, Ukraine targeted Russia’s key oil refineries, limiting the key OPEC+ nation’s overall oil production. After this episode, an immediate downfall of around 7% was seen in Russia’s oil output. This, along with already disturbed supply chains of the region, pushed the price trend for hexene in an upward direction. A decline in manufacturing activities in Germany had a negative impact on the regional demand dynamics, but the escalated upstream costs counterbalanced that. With these bidirectional acts of force, the prices were more anchored here. But the overall market expression was optimistic.

North America

The American market behavior for hexene was not much different than that of the Asian and European equivalents. In the popular world, America is considered the strategic epicenter for all geopolitical and strategic moves. So, the uncertainties lingering around the global markets obviously affected the American hexene markets as well. The Russian war in Europe and the Israel war in the Middle East seriously affected the trade routes and trade partner preferences. Amidst all this chaos, the hexene prices in the market remained positive and buoyant for the majority of the said period.

Analyst Insight

According to Procurement Resource, the Hexene price trends are likely to uplift a little more going forward before plateauing down; swift fluctuations are expected in hexene prices.
 

Hexene Price Trend for the October - December of 2023

Asia

Hexene is a very potent petrochemical that is fundamentally derived from the oligomerization of other alkenes like ethylene. During the final quarter of the year 2023, the Asian Hexene market closely followed the price trend for its feedstock materials, ethylene, and crude oil. The Chinese market was observed to be performing better than the other major regional hexene markets. However, the prices were mostly observed to be tottering at the lower levels of the price graph. Overall, mixed market sentiments were observed for hexene during the said period.

Europe

The European Hexene market trend were very similar to the Asian market trend during the given period of Q4’23. The prices here, too, depreciated marginally over the span of three months as the flooded inventory stocks guided the market trend negatively. A significant cut down in international trade because of the freight disturbances also pushed the market trend down.

North America

The North American hexene market also reflected the slowdown in the global hexene market as the prices here wavered at the lower side of the price curve for the majority of the discussed quarter. Decreased industrial activity because of the long holiday season in the latter part of the quarter also impacted the market behavior.

Analyst Insight

According to Procurement Resource, not much improvement is expected in the Hexene price trend in the coming months as the present demands will take some time to improve.
 

Hexene Price Trend for the July - September of 2023

Asia

The Asian market exhibited mixed price trend for hexene during the third quarter of 2023. Owing to the bearish demands and weak trading activities, hexene prices struggled during the first half of Q3. Chinese manufacturing industries were still trying to revive after the long COVID shutdowns and economic turmoil inflicted, considering the ongoing geopolitical conflicts.

However, the prices revived towards the end of the third quarter, with OPEC+ and Russia announcing production cuts. This created supply shortages in the global market, causing the upstream cost pressure to increase. Hence, the high feedstock prices coupled with slowly inclining downstream demands caused the hexene price trend to incline in the second half of the third quarter.

Europe

The energy crisis unveiled by the economic backlash owing to the Russia-Ukraine war drastically affected the trading sentiments of the European markets. The runaway inflation and high production costs caused the market demands to decline. However, as the alternate trade routes were open, the trade normalized, and some demands returned to the market. Furthermore, the announcement of production cuts by the leading oil producers to stabilize the global oil economy affected the pricing fundamentals of all the petrochemicals and allied industries. The supply shortages, coupled with high feedstock prices and rising demands, caused the hexene prices to rise towards the end of Q3’23.

North America

In line with the global trend, the price graph for hexene fluctuated throughout the said quarter. Initially, the bleak demands with low operability rates affected the market fundamentals for hexene and allied sectors. However, with the production cuts, the supply chains got constricted, thereby affecting the market availability of the product, leading to high prices towards the end of the said quarter.

Analyst Insight

According to Procurement Resource, the price trend for Hexene are likely to remain strong in the coming months, given the production cuts and the rise in demand owing to the approaching winter months.
 

Hexene Price Trend for the First Half of 2023

Asia

Hexene price trend in the first half of 2023 were driven by rising market offtakes. As the Chinese industries started reviving after Covid 19 lockdown, the downstream demand for Hexene from polymer, resins, and chemical industries started gaining momentum. Given this demand dynamic, the hexene prices have been oscillating on the higher end of the curve. Fluctuating crude oil prices also contributed to the wavering trend. Overall, positive market sentiments were observed.

Europe

The European Hexene market witnessed mixed price trend during H1 2023. Prices oscillated with a positive inclination attributed to increased demand from the downstream industries.

In January, prices had a slow start, given the market uncertainties. But as the demands started picking pace, suppliers started increasing orders, and the prices started catching up. The hexene market performed considerably well, given the high inflation and energy prices that the European economy struggled with. As the energy prices started stabilizing, the Hexene market, too, started stabilizing towards the end of Q2.

North America

American hexene market had a slow start with limited trade activities around the commodity, but the market gained momentum from the middle of the first quarter. Demands from the end consumer and downstream markets started rising, clearing up the existing inventories. Prices started picking pace, and suppliers started ordering more products. The market steadily turned positive, given the healthy momentum. Overall positive price trend for Hexene were observed in the said period.

Analyst Insight

According to Procurement Resource, the Hexene price trend are expected to continue the same growth pattern in the coming quarter. Good supply-demand dynamics are likely to positively impact the overall hexene market.
 

Hexene Price Trend for the Second Half of 2022

Asia

Asian market price trend for hexene during H2 2022 remained afloat. Incentivized crude oil imports from Russia to major Asian economies including India and China helped with upstream costs. But global inflation and power rationing in China affected the manufacturing sector severely. As demand dipped and upstream costs supported production, Hexene price trend kept on the lower side. A mixed kind of price trend behaviour was observed for hexene.

Europe

H2 2022 brought the wrath of an energy crisis and unforeseen inflation. Russia – Ukraine war in the European continent affected the region’s energy security very adversely. Costs of living heightened and the manufacturing sector took a major hit. The Hexene market downsized in Europe with bare demand. These situations led to a cut in production capacities. Asian imports too competed with the domestic market. Overall hexene price trend remained sluggish.

North America

Hexene prices in the North American region during H2 2022 observed a very mixed approach. A very uncertain supply-demand dynamic and feedstock tribulations kept a bearish life in the market.  Sluggish demands from the downstream and end-user markets didn’t help much in strengthening the market. The global economic slowdown had an impact on hexene price trend as well.

Analyst insight

According to Procurement Resource, hexene prices are expected to remain volatile in the coming months. Given the unsteady supply-demand dynamics amidst the fears of a looming recession, the prices will likely keep on the lower side till the demand rebounds.
 

Hexene Price Trend For the First Half of 2022

Asia

The raised crude oil and natural gas prices during the first quarter directly influenced the petrochemical prices. The increased upstream operating costs, port congestions, and supply shortages cause the prices of Hexene to inflate throughout the Asia-pacific region. During the first quarter, hexene prices averaged between 3300 USD/MT to 3140 USD/MT. In the second quarter, crude oil prices fell due to the global demand stability and supply enhancement; hence, hexene prices stabilized and plateaued.

Europe

The hexene prices initially soared due to the high crude oil prices and robust demand from the polyolefins market. The hexene prices averaged 3940 USD/MT during the first quarter. However, with the relaxation in the upstream operating costs and muted demand from the downstream LLDPE industry, hexene prices declined to an average of 3385 USD/MT in the second quarter.

North America

During the year's first half, the US domestic market registered an oscillating price trend for Hexene. Initially, the prices rose owing to the high upstream operating costs averaging 3595 USD/MT; however, the prices declined during the second quarter due to the muted market sentiments and the looming speculations of a global recession.

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