Butyl Rubber Prices, Trend, Supply and Demand & Forecast | ChemAnalyst

Butyl Rubber Prices: During the Quarter Ending December 2023

North America:

The final quarter of 2023 posed significant challenges for the Butyl Rubber market in North America. Several factors influenced pricing and demand dynamics. Firstly, a strike by the United Auto Workers (UAW) union against major automakers in the US led to a decline in automotive sales, disrupting supply chains and raising concerns about vehicle production, thus affecting Butyl Rubber demand.

Secondly, a slowdown in the European construction industry decreased import orders for Butyl Rubber from the US, further impacting market dynamics. Lastly, global crude oil prices continued to rise due to OPEC+ production cuts, increasing Butyl Rubber production costs and subsequently prices. Despite these challenges, no plant shutdowns were reported. In the US, Butyl Rubber prices reached USD 2050/MT FOB Texas by the quarter's end, marking a significant 8.93% increase from the previous quarter.

Overall, the quarter was marked by automotive and construction sector challenges, contributing to increased Butyl Rubber demand and prices in North America.

Get Real Time Prices of Butyl Rubber: https://www.chemanalyst.com/Pricing-data/butyl-rubber-1225

APAC:

The fourth quarter of 2023 in the APAC region saw several factors influencing the Butyl Rubber market. Despite low supply, demand remained high, particularly due to growth in the automotive sector, sustaining consumer sentiment. Prices experienced a modest 3.12% increase from the previous quarter.

However, in Singapore, Butyl Rubber prices fluctuated significantly, with weak domestic demand despite automotive sector growth, attributed partly to construction industry performance. No plant shutdowns were reported. Butyl Rubber MV 32-51 FOB-Jurong in Singapore stood at USD 2120/MT, a slight decrease of -2.18% compared to the previous quarter.

MEA:

The fourth quarter of 2023 in the Middle East and Africa (MEA) region witnessed Butyl Rubber price impacts from various factors. Recovering global automotive industry sentiments drove demand, particularly in countries like Saudi Arabia. Fluctuating crude oil prices increased production costs, reflecting in higher market values. Supply remained steady, with minimal issues reported.

In Saudi Arabia, significant Butyl Rubber price increases were driven by rising crude oil prices and anticipation of reduced supply due to production cuts by Saudi Arabia and Russia. Butyl Rubber MV 32-51 Ex-Jeddah in Saudi Arabia for the current quarter stood at USD 60/MT.

Europe:

Throughout Q4 2023, Butyl Rubber prices rose steadily. In October, Russian market prices surged due to increased inquiries from Europe amid recovering used car demand and an improving European automotive industry. November saw sustained demand, with passenger vehicle sales in Western Europe rising. In December, tension between Ukraine and Russia disrupted supply and demand equilibrium, leading to further price increases.

Increased demand from the automotive sector and insufficient inventory levels further boosted prices. Overall, Q4 2023 showcased a bullish market for Butyl Rubber, with prices reaching USD 1800/MT (FOB-Novorossiysk) by quarter-end, marking a 2.17% increase from the previous quarter.

Get Real Time Prices of Butyl Rubber: https://www.chemanalyst.com/Pricing-data/butyl-rubber-1225

Contact Us:

ChemAnalyst

GmbH - S-01, 2.floor, Subbelrather Straße,

15a Cologne, 50823, Germany

Call: +49-221-6505-8833

Email: [email protected]

Website: https://www.chemanalyst.com