Nitro Toluene Price Trend and Forecast

Nitro Toluene Regional Price Overview

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

Nitrotoluene Price Trend for the Q3 of 2024

Asia

The market for nitrotoluene witnessed an oscillating trajectory during the third quarter in the Asian market. Initially, the prices of nitrotoluene remained low owing to the low demands from the downstream agriculture, dyes/colorants and pharmaceuticals sectors. Despite the falling prices of feedstock toluene and allied chemicals, the concerned market kept low as downstream demand took over the other economic factors.
 

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However, the market consolidated mid-August as the demand rebounded plus the prices of feedstock toluene inclined given the momentarily rise in the crude oil prices given the ongoing geopolitical conflicts. Furthermore, the market for nitric acid kept consolidated which influenced the pricing patterns of the discussed market. Nonetheless, the momentum fizzled out causing the weak terminal demand and declining feedstock prices to dictate the market for nitrotoluene.

Europe

The market for nitrotoluene exhibited a bearish sentiment in the European domestic market. The weak downstream demand from the colorants and pharmaceuticals sectors impacted the overall dynamics of the market. Furthermore, the unfavorable weather conditions impacted the agro industry which in turn influenced the nitrotoluene market. Despite, few momentarily upticks market remained consolidated.

North America

The North American market mimicked the global market dynamics for nitrotoluene. The weak terminal demand coupled with falling feedstock prices, shipment issues and other macroeconomic factors dictated the overall pricing fundamentals of the US nitrotoluene market.

Analyst Insight

According to Procurement Resource, the market for Nitrotoluene will remain consolidated in the coming months. Currently, the global market is fragile and riddled with drastic volatilities that will readily impact several sectors.
 

Nitro Toluene Price Trend for the Q2 of 2024

Asia

Chinese nitrotoluene market reflected the pricing movement of its feedstock commodities throughout the second quarter of 2024. Initially, the rise in China's export of high-octane commodities such as toluene and its derivatives drove the upward movement of nitrotoluene prices. However, as the later phase of the quarter approached, the oversupply of the raw materials and, in turn, the commodity in the domestic as well as overseas markets and the decline in the number of inquiries from the US exerted a negative influence on the market.

Additionally, the declining gasoline prices and blending profits further reduced demand for nitrotoluene in the gasoline sector. Despite a stable arbitrage window between Asia and the U.S., weak gasoline feedstock demand in the U.S. and fluctuating price differences lessened the price support for Chinese nitrotoluene. The addition of new units further increased the toluene supply, disrupting the supply-demand imbalance and making a return to high prices unlikely even in the next quarter.

Europe

In Q2 2024, nitrotoluene prices in the European market experienced a downward trend, largely due to diminished demand from the construction and paints sectors, which are major consumers of nitrotoluene. This decrease was further driven by falling naphtha prices, a critical feedstock for nitrotoluene production, and fluctuating energy costs.

The German construction industry's contraction, amid economic pressures such as rising interest rates and inflation, also played a significant role in keeping the nitrotoluene prices on the lower end. Additionally, logistical disruptions, including the closure of sections of the Rhine River due to high water levels, impacted supply chains and restrained buyers from placing higher orders. Despite uncertainties in the automotive industry and limited nitrotoluene supply from China, European prices remained relatively stable due to balanced import-export dynamics and moderated supplier deliveries.

North America

In Q2 2024, nitrotoluene prices in the U.S. market declined steadily due to weak domestic demand and ample supply. Nitrotoluene prices were also closely linked to downstream sectors, such as construction and paints, and faced downward pressure as these industries experienced reduced activity compared to previous quarters.

The pricing balance was further affected by low naphtha prices, which influenced production costs and contributed to the oversupply of nitrotoluene. Additionally, economic uncertainties, tight lending conditions, and an oversupply of warehouse facilities further restrained new developments and construction activities, reducing demand for nitrotoluene. As a result, nitrotoluene prices in the U.S. market settled lower, reflecting subdued demand across key industrial sectors throughout the quarter.

Analyst Insight

According to Procurement Resource, the price trend of Nitrotoluene is expected trade on the lower end of the pricing spectra as the weak downstream support and sufficient availability of stocks will keep the market momentum subdued.
 

Nitro Toluene Price Trend for the Q1 of 2024

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Asia

Across the Asia-Pacific countries, a convergence of factors, including facility closures and geopolitical uncertainties, drove the Nitro Toluene prices upward, straining supply chains and market conditions. In the APAC region, Nitro Toluene price escalation is primarily attributed to the shutdowns of major toluene plants, which constrained the supply chains of Nitro Toluene in the region.

Additionally, the onset of the Chinese Lunar New Year and spring festivities season intensified the supply crunch situation in the region, further adding to the production halts. The disappointing outcomes from the OPEC+ production policy, coupled with market negotiations, additionally supported the uptrend in the prices of Nitro Toluene in Asian countries, leading to an eventual uptrend in its pricing patterns.

Europe

The Nitro Toluene price trend in the European market attained stagnancy amid the fluctuating cost of crude oil and naphtha. The traders throughout the quarter struggled to maintain the equilibrium between the supply and demand sectors of the market. The downstream industries initially showcased a slight uptrend, supporting an uptrend in the pricing patterns, but under the pressure of inflation and the surging cost of production, the momentum died down in the later stages. Further, the derailing of the trade routes amid the ongoing loss of the Red Sea route and abrupt escalation in the cost of transportation eventually hampered the growth momentum of Nitro Toluene prices during the first quarter of 2024.

North America

Throughout the first quarter of 2024, the North American producers of Nitro Toluene tried to balance supply and demand despite rising crude oil and naphtha costs. The changes in US crude oil stockpiles asserted a significant impact on market movements, leading to volatility in the market. Additionally, the congestion of Panama Canal ports due to a decline in water levels caused a significant loss in traders' profit margins.

The price variations for the Nitro Toluene market are also influenced by firm inflation rates, which are fueled by growing costs for housing and energy. Despite this, the manufacturers anticipated a steady demand for paints, varnishes, and detergents which might support the market momentum in the next quarter, prompting them to raise their production outputs.

Analyst Insight

According to Procurement Resource, the price trend of Nitro Toluene is expected to grow upwards in the next quarter as the optimistic outlook of downstream industries and the rising cost of feedstock toluene will assert a positive influence on Nitro Toluene prices.
 

Nitro Toluene Price Trend for the October - December of 2023

Asia

In the Asian market, particularly China, Nitro Toluene Price Trend maintained stability during the fourth quarter of 2023, defying the global downward trend. This stability can be seen as a reflection of Asia's unique market dynamics and demand patterns, particularly in key sectors such as dyes and pharmaceuticals.

The Asian market's resilience to the pricing downturn as opposed to the European market suggests a strategic response to global supply chain variations. However, the overarching global trend of declining chemical prices and reduced manufacturing activity could indicate potential future fluctuations.

Europe

Europe witnessed a downward price trend in Nitro toluene prices throughout the fourth quarter of 2023. This decrease was primarily due to the volatility in the prices of Toluene and Nitric Acid, critical feedstocks for Nitro toluene.

Affected by global supply chain dynamics and petrochemical market shifts, European manufacturers adjusted their Nitro toluene prices accordingly. This period was marked by a balancing act, as suppliers navigated the complexities of varying feedstock costs and fluctuating demand within different industries.

North America

In North America, particularly the US, Nitro Toluene Price Trend exhibited a stability similar to that of the Asian market, despite the global downtrend in feedstock prices. This steadiness reflects the unique market dynamics and demand structures in North America, buoyed by sustained demand in sectors such as automotive and construction.

However, the market was not entirely immune to global influences, with potential adjustments on the horizon driven by broader economic factors and feedstock price impacts. The overall market sentiment was one of caution, as stakeholders navigated a complex and shifting landscape.

Analyst Insight

According to Procurement Resource, the global price trend for Nitro toluene is expected to witness a significant fluctuation and mixed trend in 2024.
 

Nitro Toluene Price Trend for the July - September of 2023

Asia

The nitroToluene Price Trend witnessed a steep rise during the given span of Q3’23. Pushed by the raging rise in crude oil and energy prices, the nitrotoluene price index consistently registered rising numbers throughout the said period. A notable surge in feedstock toluene and nitric acid prices also pushed the nitro-toluene price graph in an upward direction.

Since the war has been going on in Europe between Russia and Ukraine for over a year now, the explosives and ammunition industry has been consuming more and more amounts of nitrotoluene. Pharma and chemical industries have also been posing rising demands, so with these surging demands from the downstream consumption industries, the nitroToluene Price Trend have been on an uphill run in the entire period of the third quarter of 2023.

Europe

The European nitrotoluene market was relatively more subsided compared to the Asian nitrotoluene market. The effect of normalizing inflation led to a decrease in upstream costs by stabilizing freight and processing rates. Since the manufacturing industry was still recovering, the downstream demands for nitrotoluene were also on the lower side. So, with dull demands and ample supply, the nitrotoluene prices mostly wavered at the lower end of the price curve.

North America

The North American nitrotoluene market almost mirrored the Asian price trend in the said quarter of 2023. The economic uncertainties with mounting inflation rates pushed the American industrial sector down. Owing to this, the nitroToluene Price Trend remined on a downhill trajectory throughout the discussed period. Overall, dull market sentiments were observed.

Analyst Insight

According to Procurement Resource, Nitro Toluene prices are likely to continue to fluctuate going forward as per the volatile downstream demands from the consumption sectors.
 

NitroToluene Price Trend for the First Half of 2023

Asia

The first two quarters of 2023 witnessed a declining trend in the prices of Nitrotoluene in the Asia- Pacific market. The adverse effects of subdued demand from the pesticides and drug industries and rising stockpiles of raw materials were the major factors influencing the price trend of Nitrotoluene. The sales of the petrochemical sector and depletion in the elastomer sector also negatively impacted the nitrotoluene market.

Europe

The lower value of Nitrotoluene in the European region was the direct result of the slow movement of the pharmaceuticals and herbicides industries. As a result of this, the sales of end-user industries declined, which reduced the interest of investors in the market. In addition, uncertainties in the energy production costs and disruptions in the logistics sector further pushed the price trend of Nitrotoluene into the negative zone.

North America

The price trend of Nitrotoluene in North America was the opposite of that observed in the Asia-Pacific and European markets. The prices here surged as the market activities of pigments, agricultural, and antioxidants industries inclined significantly, raising the demand for Nitrotoluene. The see-saw prices of crude oil and rising requirement of the product from the downstream automotive and construction industries supported the nitrotoluene market, and thus, the trend in the first two quarters of 2023 inclined.

Analyst Insight

According to Procurement Resource, the price of Nitrotoluene is expected to showcase a fluctuating trend in the coming quarter, given the uncertain energy production costs and volatile demand from the end-user industries.

Procurement Resource provides latest prices of Nitro Toluene. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.