For the Quarter Ending September 2024
North America
In Q3 2024, the North American region experienced a mixed pricing trend for Calcium Carbonate. At the beginning of the quarter, prices consistently declined due to several factors, including muted demand across industries, surplus production capacity, and stable raw material costs. These elements collectively exerted downward pressure on prices, leading to a negative pricing environment. In the USA specifically, the market reflected the most significant price changes, with seasonal variations in demand, production efficiencies, and balanced inventory levels contributing to the decreases.
However, towards the end of Q3, Calcium Carbonate prices in the USA began to rise. This increase was driven by seasonal demand spikes from key industries such as food and pharmaceuticals, which actively replenished inventories and led to heightened consumption. Additionally, rising costs for limestone, the primary raw material, increased production expenses, further pushing prices upward. Unexpected production difficulties and the looming threat of a strike by the International Longshoremen's Association (ILA) heightened market uncertainty, raising concerns about potential disruptions at East Coast and Gulf ports. Compounding these issues, Tropical Storm Francine posed risks of heavy rain and flooding in critical logistics regions, prompting precautionary measures from oil and gas companies.
Overall, a quarter-on-quarter change of -8% reinforced the negative pricing sentiment, though the latter half of the quarter showed a slight moderation in the rate of decline, with prices reflecting a -3% difference compared to the first half. Ultimately, the quarter ended with prices at USD 655/MT for Food Grade Calcium Carbonate, FOB US Gulf.
APAC
In Q3 2024, the APAC region experienced mixed price fluctuations for Calcium Carbonate. In the first half of the quarter, the Chinese construction industry faced a significant decline in demand for Industrial Grade Calcium Carbonate, exerting downward pressure on prices. This seasonal lull followed the post-monsoon period, characterized by reduced construction activity due to wet ground conditions and holiday breaks. Producers had accumulated high inventory levels in anticipation of peak demand, which further contributed to the price decline. Stable raw material costs, particularly limestone, allowed manufacturers to lower their pricing strategies. The broader downturn in China’s real estate market exacerbated these challenges within the Calcium Carbonate sector. However, a notable uptick in prices occurred in the latter half of Q3, particularly in China, where the market experienced significant price changes. This surge was driven by a resurgence in construction activity, fueled by government investments in infrastructure projects and real estate development. Supply constraints, including adverse weather conditions and maintenance shutdowns at production facilities, also tightened market conditions and contributed to rising prices. Overall, the region exhibited varied sentiment with balanced inclines and declines in prices, with China leading the way. Despite a -12% change from the previous quarter, the latter half of Q3 saw a 1% price increase. The quarter-ending price for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai in China was recorded at USD 102/MT, reflecting a consistently rising pricing environment.
Europe
In Q3 2024, Belgium's market for Industrial Grade Calcium Carbonate experienced a notable decline in prices, primarily influenced by a weakened construction sector and seasonal factors. At the start of the quarter, stable pricing dynamics were observed, but demand remained moderate due to a seasonal lull and holiday-related delays in project approvals. High inventory levels, built up in anticipation of summer activities, contributed to price stability, despite a forecasted 3% decline in construction output for 2024. However, as the quarter progressed, increased domestic production stemming from improved efficiencies and new capacities led to market surpluses, putting downward pressure on prices. By the end of the quarter, prices continued to drop due to these elevated supply levels and adjusted inventories. The broader EU context projected a 1.5% decline in construction volumes for 2024, highlighting ongoing challenges in the sector. Despite emerging signs of recovery in housing and building permits, overall demand for Calcium Carbonate in Belgium remained low, resulting in bearish market sentiment by the end of the quarter. Overall, the region exhibited negative sentiment, with an 8% decline from the previous quarter. A 4% decrease was noted when comparing the first half of the quarter to the second half. The quarter-ending price for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai in China was recorded at USD 102/MT, reflecting a consistently rising pricing environment.
For the Quarter Ending June 2024
North America
In Q2 2024, Calcium Carbonate pricing in North America displayed a mixed trend influenced by various factors. In April, prices for food-grade calcium carbonate in the USA dropped by 5% due to an oversupply from increased domestic production and higher imports from Mexico and Canada. Seasonal slowdowns in food production and reduced demand from export markets exacerbated this surplus.
In May, prices increased by 1% as supply chain disruptions, including planned maintenance and transportation issues, tightened the market. Unexpected production stoppages and feedstock shortages, combined with seasonal demand for summer production, contributed to this uptick. Despite stable raw material costs, heightened transportation costs and trade restrictions influenced export dynamics.
June saw a further 3% increase in FGCC prices, reversing the previous month's decline. This rise occurred despite seasonal demand lulls and high inventory levels, supported by stable domestic production and raw material costs. The market adjusted to supply and demand fluctuations, with economic stability providing a supportive backdrop.
The food-grade calcium carbonate market experienced a mixed trend and US Gulf priced at USD 680/MT. Despite a -6% price change from the previous quarter, the market saw fluctuations with April's 5% price drop due to oversupply and low demand. May's 1% price increase was driven by supply chain disruptions and seasonal demand, while June’s 3% rise reflected stable production amidst high inventories. Factors such as increased downstream demand, supply chain challenges, and inflationary pressures contributed to price adjustments, while declining demand in some sectors and heightened competition exerted downward pressure. Overall, the quarter highlighted a complex interplay of supply, demand, and external factors impacting pricing dynamics.
APAC
In Q2 2024, the calcium carbonate market in the APAC region has predominantly experienced a downward pricing trend, reflecting a consistent decrease throughout the quarter. Several critical factors have influenced this decline in prices. A notable slowdown in demand from downstream industries such as construction, paper, and paints has exerted significant downward pressure on the market. This reduced demand has been exacerbated by high inventory levels held by producers and distributors, who have subsequently reduced prices to clear excess stock. Additionally, an increase in production capacity, coupled with heightened output from existing facilities, has contributed to a market surplus. Seasonal factors, including a lull in construction activities, have further impacted on demand, driving prices down. Export dynamics have also played a role, with weaker demand from regional markets influencing domestic surplus and pricing strategies.
Focusing on China, which has seen the most substantial price changes, the overall trend has been unmistakably bearish. The calcium carbonate market here has been influenced by a combination of high inventory levels, surplus production, and subdued demand from critical industries. Seasonal slowdowns have particularly affected construction-related applications, leading to decreased consumption. When viewed against the preceding quarter of 2024, there has been a 9% decline, underscoring the sustained bearish sentiment throughout the period. A comparative analysis between the first and second halves of the quarter shows a 6% drop, emphasizing ongoing market challenges. The latest quarter-ending price stands at USD 108/MT for Calcium Carbonate (GCC) Industrial Grade FOB Shanghai, reflecting a persistently negative pricing environment.
Europe
In Q2 2024, the European calcium carbonate market experienced a pronounced decline in prices due to a confluence of factors. The quarter was marked by an overall bearish sentiment driven primarily by surplus supply and reduced demand across various sectors. The seasonal slowdown in construction activities, coupled with the increased adoption of alternative materials such as fly ash and ground limestone, significantly curtailed the demand for calcium carbonate. Additionally, heightened import volumes from neighboring countries exacerbated the oversupply situation, leading to intense price competition. This glut was further compounded by slightly decreased raw material costs, which kept production expenses low and enabled manufacturers to maintain or lower their selling prices.
Focusing on Germany, the market exhibited the most notable price changes within the region. The overall trend for calcium carbonate pricing was decidedly negative, influenced heavily by seasonal factors and an economic environment that favored cost-cutting and efficiency improvements. From the previous quarter in 2024, prices declined by 7%, underscoring a persistent downward trajectory. Even within the quarter, the first and second halves saw a 4% price reduction, highlighting continuous market pressure.
The latest quarter-ending price for Industrial Grade Calcium Carbonate CFR Hamburg stood at USD 302/MT. This sustained decline underscores a negative pricing environment, driven by an oversupply and subdued demand, which has rendered the market less favorable for producers despite stable production costs.
For the Quarter Ending March 2024
North America
Throughout Q1 2024, the pricing dynamics of Calcium Carbonate in North America were shaped by several factors. Initially, the market witnessed a surge in prices during the first two months, driven by a combination of limited supply and robust demand, creating a bullish market environment. However, the trend reversed in the last month of the quarter, with prices experiencing a decline.
January commenced with an incline in pricing attributed to global supply chain disruptions, notably in materials like calcium carbonate. This scarcity intensified market dynamics, leading to competitive trading and potential inventory challenges for manufacturers. February sustained the upward trend as demand surged from food and pharmaceutical industries, resulting in tightened supplies and elevated prices. However, March witnessed a decline in prices for food-grade calcium carbonate in the USA due to seasonal shifts and increased production.
Despite this temporary dip, the overall quarterly trend remained upward, reflecting persistent supply chain challenges. Prices concluded the quarter at USD 746/MT, indicating a quarterly incline despite fluctuations. Throughout the quarter, challenges in procurement and logistics underscored the fragility of the supply chain, emphasizing the need for resilience and adaptability in the face of evolving market dynamics.
APAC
The pricing of Calcium Carbonate in the APAC region for Q1 2024 has been influenced by various factors. Overall, the market has experienced a bearish trend, with prices declining compared to the previous quarter. In China, which has seen the maximum price changes, the market has been particularly affected by factors such as the seasonal lull in demand from industries like construction and paper production. This has led to lower consumption rates and downward pressure on prices. Additionally, Chinese producers have faced high inventory levels due to sluggish demand, resulting in price competition to clear excess stocks. The surplus supply has been exacerbated by stable or increased production rates, further driving prices down.
Government policies aimed at boosting domestic production have also contributed to the surplus supply. Furthermore, the decline in China's manufacturing sector, as indicated by the decrease in the Purchasing Managers' Index (PMI), has influenced calcium carbonate prices. The drop in demand during the winter months and the slowdown in the construction industry have also contributed to the bearish market trend.
In terms of price comparison, the first half of the quarter has seen a slight decrease in prices compared to the second half. The quarter-ending price for Q1 2024 is recorded at USD 123/MT of Calcium Carbonate (GCC) IndlGrade FOB Shanghai in China. Overall, the pricing environment for Calcium Carbonate in Q1 2024 has been negative, with prices declining due to factors such as reduced demand, surplus supply, and increased production cost.
Europe
In Q1 2024, the pricing environment for Calcium Carbonate in the Europe region has been influenced by various factors. Overall, the market has experienced downward pressure on prices due to excess supply and reduced demand. This has resulted in a bearish market situation.
One significant factor impacting prices is the economic slowdown, which has led to a decrease in the need for construction materials, a key application for Calcium Carbonate. This has created an excess supply and potential price drops. However, stabilizing energy costs, particularly in natural gas used in Calcium Carbonate production, have helped ease expenses and limit supply constraints. Trade disruptions due to political tensions or logistical issues have also had an adverse impact on Calcium Carbonate import/export.
When examining the pricing trends specifically in Belgium, it is evident that the market has seen significant price changes. Prices have declined by 4% compared to the previous quarter in 2024. The first half of the quarter showed a slight increase in prices, but the second half witnessed a decrease. The quarter-ending price in Belgium stands at USD 297/MT of Calcium Carbonate Industrial Grade FOB Antwerp. Overall, the pricing environment in Belgium has been negative, with prices experiencing a downward trend.
For the Quarter Ending December 2023
North America
The North American Calcium Carbonate market in Q4 2023 has witnessed moderate supply and a stable market situation. The market has remained unaffected by any significant changes throughout the quarter. However, the increase in energy prices and destocking activity in the market might impact the prices in the future.
US retail sales increased in September due to consumer spending in restaurants and bars amid a tight labour market, which might further impact the Calcium Carbonate prices. Moreover, the US Department of Health and Services is about to revise the dietary guidelines, which could impact the prices used in the dietary and supplement industry.
The correlation price percentage of Calcium Carbonate in the US has remained stable with no change from the previous quarter and a -3% change from the same quarter last year. The price percentage comparison of the first and second half of the quarter in the US was -1%. The latest price of Calcium Carbonate Food Grade FOB US Gulf in the US for Q4 2023 is USD 727/MT.
APAC
The current quarter of 2023 (Q4) for Calcium Carbonate in the APAC region has been characterized by various factors that have affected the market and prices. Firstly, there has been a maintenance shutdown in several production plants due to the festive season, leading to supply shortages. Additionally, the worldwide net sales of Minerals Technologies Inc., a major Calcium Carbonate supplier, have been USD 130 million, up approximately 1% compared to the previous year, indicating high supply. In China, which has experienced the most significant price changes, Calcium Carbonate prices have declined by 1.4% from the previous quarter. This can be attributed to moderate supply levels and the potential escalation of the West-Asia conflict, which could cause a price hike in crude oil. Furthermore, freight rates may increase, supporting shipment costs. Compared to the same quarter in the previous year, Calcium Carbonate prices in China have decreased by 6%. This decline can be attributed to market dynamics and other factors mentioned earlier. In terms of a quarter-on-quarter comparison, there has been a 2% decrease in prices from the previous quarter. This could be influenced by factors such as the winter storm affecting downstream construction demand and potential freight rate increases. The latest price of Calcium Carbonate (GCC) Industrial Grade FOB Shanghai in China for the current quarter is USD 130/MT.
Europe
The fourth quarter of 2023 has been characterized by various factors that have influenced the pricing of Calcium Carbonate in the European market. Firstly, there has been a decrease in demand from the downstream construction industry due to a strong winter storm, leading to a decrease in prices. Secondly, the supply of Calcium Carbonate has remained moderate throughout the quarter, with ample inventory being accommodated considering the future winter demand in the construction industry. Additionally, OPEC's crude oil supply cut has been a major energy concern for European industry sectors, which has further impacted the pricing trend. In terms of Belgium, there has been a bullish market situation with moderate supply. The escalation of the West-Asia conflict and the potential price hike of crude oil have been key factors affecting the pricing trend in the country. However, there have been no reported plant shutdowns in the European region during this quarter. Analysing the price percentage changes, there has been a -14% decrease in prices compared to the same quarter of the previous year. Furthermore, there has been a -2% decrease in prices from the current quarter to the previous quarter of 2023. The pricing of Calcium Carbonate in Europe during the fourth quarter of 2023 has been influenced by factors such as decreased demand from the construction industry, moderate supply, OPEC's crude oil supply cut, and the escalation of the West-Asia conflict. Belgium experienced a bullish market situation, and no plant shutdowns were reported. The quarter-ending price of Calcium Carbonate Industrial Grade FOB Antwerp in Belgium was USD 340/MT.
