North America
Throughout Q4 2023, the Butanediol market in North America underwent significant fluctuations, impacted by several factors. Firstly, the limited availability of feedstocks such as Maleic Anhydride and benzene caused an increase in production costs, leading to a rise in the overall market pricing.
Secondly, demand for Butanediol from the downstream industries remained moderate, with the construction and paints sector rebounding slowly. Another factor influencing the market dynamics was the destocking behaviour of buyers before the winter holidays, leading to a decrease in market inquiries. In the USA, the housing market's current state, with rising mortgage rates and limited availability of homes, also negatively impacted the demand for Butanediol.
Additionally, the volatility in feedstock prices and the sluggish demand governed the overall Butanediol prices in the US market, resulting in a stable market situation throughout the quarter. No plant shutdowns were reported during this period. The price trend for Butanediol in the US market remained on the lower side due to the declined feedstock values, leading to higher production costs. The correlation price percentage for the selected country (USA) was negative, indicating a decline in prices throughout the quarter. The price percentage comparison for the first and second half of the quarter was not significant. The current quarter's ending price for 1-4 Butanediol DEL Texas in the USA was observed at USD 1578/MT.
APAC
The fourth quarter of 2023 for the Butanediol market in the APAC region was characterized by stable supply and subdued post-festive demand, leading to an overall stability in prices. However, the Chinese BDO market faced a 1% negative growth due to cautious traders and weak demand in downstream sectors.
The construction and cement sector in China remained under pressure, further impacting the market. India declared a five-year halt on the establishment of new coal power plants, excluding those already in the planning stage, which impacted the downstream demand for Butanediol. South Korea experienced the maximum change in prices with a 0.7% decline, primarily driven by a low trading activities in the broader Asian market.
The trend and seasonality of Butanediol prices in South Korea for Q4 2023 remained negative, reflecting an 11% decrease from the same quarter in the previous year and a 15% decrease from the previous quarter. Additionally, prices in the second half of the quarter decreased by 10% compared to the first half. The latest price of Butanediol in South Korea for Q4 2023 was USD 1352/MT of 1-4 Butanediol Spot Ex-Busan.
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Europe
During the current quarter of 2023, the Butanediol market in Europe remained stable, with prices holding steady due to consistent imports and a lack of fresh inquiries. Additionally, suppliers faced heightened competition from the Asian market, further contributing to price stability. The weak construction sector and lack of demand also played a significant role in the overall price dynamics of Butanediol in Germany, which experienced a decline in inflation. The consumer price index for Germany indicated a decrease in inflation, and Italian businesses saw a decline in morale for the fourth consecutive month, reaching its lowest level since 2021. However, despite a 1.5% increase in feedstock value, the price of Butanediol remained stable in the UK market. No plant shutdowns were reported during this quarter. The price of 1,4-Butanediol DDP Frankfurt in Germany for the current quarter is USD 1788/MT. The price trend for the selected country of Germany remained stable throughout the quarter, with no significant trend or seasonality observed. In comparison to the same quarter last year, there was no change in the price, while the percentage change from the current to the previous quarter was 1%. The price percentage comparison of the first and second half of the quarter remained unchanged. Overall, the Butanediol market in Europe remained stable with few significant changes during the current quarter.
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