For the Quarter Ending September 2024
North America
In Q3 2024, the North American Calcium Silicate market faced a notable decline, with prices dropping compared to the previous quarter. This downturn was largely driven by weakened demand from vital sectors, including construction and glass manufacturing, both of which grappled with ongoing supply chain disruptions and logistical challenges.
Factors such as persistent port congestion, labor strikes, and the potential impact of hurricanes significantly undermined market confidence, leading to a bearish pricing trend. Additionally, plant shutdowns especially those triggered by Hurricane Beryl tightened supply levels, exerting further downward pressure on prices. While there was some hope for a recovery, overall demand remained tepid, leaving domestic producers and traders contending with difficult market conditions.
In North America, the USA recorded the most pronounced price volatility, reflecting a continuous downward trend throughout the quarter. Overall, the pricing landscape for Calcium Silicate in North America during Q3 2024 was largely unfavorable, shaped by weak demand, and exacerbated by external factors such as weather-related disruptions, labor issues, and supply chain inefficiencies that continued to challenge market dynamics.
APAC
Throughout the third quarter of 2024, the APAC region witnessed a challenging quarter for Calcium Silicate pricing due to various factors. Prices decreased at both the beginning and end of the quarter, with a notable spike occurring in August. Although global port congestion persisted, supply levels remained adequate, while demand from downstream sectors, particularly construction, was subdued. China experienced the most significant price fluctuations, underscoring its critical role in the regional market. Seasonal dynamics, especially construction activity, influenced demand variations. At the end of the quarter, prices trended downward, largely due to the low costs of imported materials from other Asian markets, which applied downward pressure on regional prices. Furthermore, the cautious approach of key Asian markets, particularly China, affected regional dynamics. Typhoon Bebinca also caused severe flooding, disrupting logistics during the Mid-Autumn Festival and complicating transportation amid already weak demand. Overall, Calcium Silicate prices eased by 6% compared to the previous quarter, with a quarter-end price decline of 5% for FOB Qingdao (China).
Europe
In Q3 2024, the European Calcium Silicate market experienced a notable decline in prices, primarily driven by weakened demand from key downstream sectors, including construction manufacturing. This downturn was further compounded by sluggish industrial activity, congestion at major ports, and challenging economic conditions, all of which contributed to a bearish market sentiment. Germany exhibited the most pronounced price fluctuations, with subdued demand leading to a price drop of 4% compared to the previous quarter. The negative trend was exacerbated by disrupted supply chains and low consumer confidence, resulting in price changes of 11% in August and 1% in September for Calcium Silicate CFR Hamburg (Germany). Overall, the quarter underscored a difficult pricing environment in Germany, characterized by persistently declining prices driven by a combination of weakened demand, supply chain disruptions, and adverse economic factors. Market participants faced increasingly challenging dynamics marked by uncertainty and caution as they approached the end of Q3, navigating through a series of hurdles that influenced their decision-making and strategic planning.
For the Quarter Ending June 2024
North America
In Q2 2024, Calcium Silicate prices in North America experienced notable volatility, with a general decline followed by a rebound by the end of June. This period was characterized by a complex mix of supply chain disruptions, changing demand dynamics, and geopolitical tensions.
Significant supply chain challenges included the collapse of the Francis Scott Key Bridge in Baltimore, which severely impacted transportation logistics, and a potential strike by workers at major freight rail carriers CN and CPKC, which threatened to disrupt trade across North America.
Additionally, the Panama Canal Authority's decision to add extra transit slots per day provided some relief to supply pressures, but it was insufficient to counteract the broader market disruptions. Demand for Calcium Silicate declined mainly due to a slowdown in the manufacturing sector and decreased construction spending, exacerbated by high interest rates that limited expenditure on construction projects and reduced consumer spending. Nonetheless, demand picked up toward the end of the quarter, driven by renewed interest in infrastructure projects and increased private-sector construction activities.
APAC
In Q2 2024, the Calcium Silicate market in the APAC region experienced a mixed trend as the prices initially eased, however, rebounded later. The quarter has seen a blend of key factors driving this price increase, despite overall subdued demand from downstream industries like construction. Strategic government initiatives aimed at stimulating the property sector, such as relaxed down-payment requirements and lowered interest rates on home loans, have moderately bolstered confidence in the market. Additionally, geopolitical tensions and disruptions in trade routes, particularly through the Red Sea, have compounded supply chain challenges, contributing to cost pressures and influencing the upward price trajectory. Focusing on China, which has been at the epicenter of these price changes, the market exhibited a bullish trend throughout the quarter. Despite weak downstream demand and challenging economic conditions, low inventory levels have played a significant role in maintaining an upward momentum. The Chinese market saw substantial month-on-month price increases, reflecting a persistent struggle with supply constraints amid moderate demand recovery. Seasonal factors, such as increased construction activities during the summer, have further influenced this upward trend. The quarter concluded with the price of Calcium Silicate FOB Qingdao at USD 780/MT, underscoring a stable yet positive pricing environment. Overall, the Q2 analysis reveals that while the market faced various pressures, the pricing context remained predominantly positive due to strategic economic interventions and persistent supply limitations.
Europe
In Q2 2024, the Calcium Silicate market in Europe experienced fluctuations as the prices declined in April, however, surged by quarter end. The quarter has been marked by disruptions in key trade routes, particularly in the Red Sea, which have compounded supply chain challenges. Geopolitical tensions and adverse weather conditions have exacerbated these disruptions, leading to increased freight rates and extended delivery times, which in turn elevated production costs. Additionally, macroeconomic factors, including rising inflation and high financing costs, have further contributed to higher market prices. Despite these challenges, the subdued demand from downstream industries like construction, ceramics, and glass has persisted, preventing a more robust recovery. Focusing on Germany, the country has experienced the most significant price changes within the region. The overall trend in Germany has been upward, with prices reflecting a positive sentiment due to constrained supply and moderate demand levels. Seasonal factors, such as increased construction activity during the warmer months, have also played a role in driving prices up. In conclusion, the pricing environment for Calcium Silicate in Germany has been positive in Q2 2024, with the latest quarter-ending price recorded at USD 830/MT CFR Hamburg. The consistent price increases highlight a market under pressure from supply chain disruptions, macroeconomic challenges, and seasonal demand fluctuations, culminating in a favorable pricing trend for the quarter.
For the Quarter Ending March 2024
North America
In the first quarter of 2024, the pricing trends of Calcium Silicate in North America showed a varying pattern, influenced by several factors. While there was an overall sense of stability, the market in the USA experienced notable fluctuations, with periods of both price increases and stability.
By the middle of the quarter, the USA Calcium Silicate market maintained stable prices after a surge in January. Additionally, the relatively higher import costs of the product contributed to a slight uptick in domestic market prices. The business climate in the US demonstrated a significant increase in economic activity, with companies seeing strong growth in new orders for goods and services. This led to an optimistic outlook and increased confidence in future business prospects.
The growth in construction projects and positive business sentiment propelled the product's upward price trajectory in the US market. Moreover, freight charges associated with importing Calcium Silicate to the US affected product pricing domestically. Nevertheless, the domestic market had sufficient supply, prompting traders to adjust prices with only a marginal increase this quarter.
APAC
Throughout the first quarter of 2024, the pricing dynamics of Calcium Silicate in the APAC region remained subdued, influenced by various factors, with the overall market situation in China playing a significant role in shaping the pricing trend for the quarter. Frequent price fluctuations and an overall downward trajectory characterized the market, mainly attributed to weak demand from the downstream construction sector during the Lunar New Year holidays. The presence of ample product stock further aggravated the situation, leading sellers to offer discounts. Moreover, disruptions in supply routes via the Red Sea and Panama Canal resulted in stockpiling at regional ports, contributing to increased inventory levels and downward pressure on prices. The decrease in demand from the construction sector, as indicated by the business activity index, also had a bearing on pricing. When comparing year-over-year data, the pricing trend for Q1 2024 showed a decline compared to the same quarter in the previous year, reflecting the challenging market conditions. However, there was a slight price increase compared to the preceding quarter of 2023, attributable to pre-holiday restocking and optimistic expectations. Consequently, by the end of the quarter, the product's price in China had declined by 1%.
Europe
During Q1 2024, the pricing dynamics of Calcium Silicate in the European region were characterized by a subdued atmosphere influenced by a variety of factors. The market trend leaned bearish, driven by a combination of low demand and ample supply, which resulted in price reductions. Germany, in particular, witnessed significant price fluctuations due to challenges within its construction sector and economic uncertainties. The construction industry in Germany grappled with issues such as diminished demand, constrained financial conditions, and elevated prices, leading to reduced new orders and an atmosphere of caution in the market. The availability of competitively priced imported materials further compounded the decline in prices. Furthermore, disruptions in container shipping and severe congestion in the Red Sea exerted pressure on supply chains, contributing to the downward trajectory of prices. When comparing year-over-year price changes, there was a depreciation in prices compared to the same quarter last year, underscoring the persistent challenges faced by the market. Ultimately, the final price for Calcium Silicate CFR Hamburg in Germany declined by 1% at the end of the quarter, reflecting the prevailing downward trend in prices during this period.
For the Quarter Ending December 2023
North America
The North American market for Calcium Silicate in the fourth quarter of 2023 witnessed several key factors that influenced prices and market conditions.
Firstly, the market experienced a slight decline in demand, with limited growth in the construction sector. This resulted in lower purchasing activity and reduced orders for the product. Secondly, the availability of Calcium Silicate in the market remained moderate, with a steady supply from traders. However, the limited demand and ample supply contributed to a downward pressure on prices.
Among the countries in the region, the United States had the most significant changes in prices. This decline can be attributed to the subdued demand and ample supply in the market. Additionally, the US market experienced a slight increase in demand towards the end of the quarter, leading to a small price uptick. Overall, the North American market for Calcium Silicate in the fourth quarter of 2023 was characterized by subdued demand, moderate supply, and a slight decline in prices.
APAC
The Calcium Silicate market in the APAC region faced challenges during the fourth quarter of 2023, with a subsequent rebound towards the end of the period. Initially, the market experienced a decline in prices attributed to weak demand and an oversupply of the product. The construction sector, a key consumer of Calcium Silicate, witnessed a slowdown, resulting in decreased new orders and reduced overall activity. This, coupled with a slowdown in infrastructure spending, further impacted the market, leading to price declines and an accumulation of stock. Despite marginal improvements in factory activities, the overall demand remained low. However, a positive shift occurred in China by the conclusion of the quarter, driven by firm market demand. China's efforts to rejuvenate its struggling real estate sector and support post-pandemic economic recovery contributed to increased demand for Calcium Silicate, especially in construction, as well as its applications as an anticaking agent in the food and drug industries. Anticipated gains are expected in the early months of 2024. In China, where the most significant price changes occurred, there was limited availability of Calcium Silicate, resulting in price increases. Nevertheless, the overall demand in the region remained subdued due to a housing market slowdown and reduced infrastructure spending. The quarter-ending price for Calcium Silicate in China was recorded at USD 890/MT FOB Qingdao.
Europe
The fourth quarter of 2023 proved to be challenging for the Calcium Silicate market in Europe, with several factors impacting prices. Firstly, weak demand from the downstream construction industry played a significant role in the declining prices. This was due to a cautious approach among buyers, influenced by high-interest rates and uncertainty in the German market. Additionally, the presence of imported Calcium Silicate in the market further added to the supply, putting additional downward pressure on prices. In terms of specific country analysis, Germany experienced the most significant price changes during the quarter. Furthermore, when compared to the same quarter of the previous year, prices were down by 8%. In conclusion, the Calcium Silicate market in Europe faced downward pressure on prices during the fourth quarter of 2023. Weak demand, increased supply, and cautious buying behavior influenced the market dynamics. The price of Calcium Silicate in Germany decreased by 5.5% during the quarter, reflecting the challenging market conditions. The quarter-ending price of Calcium Silicate CFR Hamburg in Germany for the current quarter is USD 888/MT.
