For the Quarter Ending June 2023

North America

The n-hexane prices in the second quarter of 2023 showed mixed trends with the overall bearish outlook in the American markets owing to the sentiments related to the crude oil market. The value per unit quantity(USD/ton) exported from American ports fluctuated, showing mixed trends with a variation of USD 1.5220659 per ton to USD 1.4940663 per ton from April to June noted at the American ports, which is further expected to follow the similar trend in direct relation with the crude oil price fluctuations as n-hexane is produced directly from crude oil through precision refining and distillation that is subsequently used in extraction processes for solvents such as soybeans, flax, peanuts, and safflower seed. Further, the demand coming from the downstream textile and printing industries is to stay on the stable side as it is actively utilized as a cleaning agent in the textile, furniture, shoemaking, and printing industries. On top of that, the underwhelming performance of the construction industry and cheaper imports reaching the American ports from the producing nations had further hampered the procurement activities in the local market and eased the cost support, respectively, both culminating in further price decline.

n-Hexane Prices: https://www.chemanalyst.com/Pricing-data/n-hexane-1151

Asia Pacific Region

The outlook for n-hexane in the Asian market has been positive, observing an overall increment in the entire second quarter. However, it witnessed a slight decline in the second half of Q2 from mid-May to June. The market was bullish owing to the growing regional demand for n-Hexane from downstream textile and furniture industries, which led to a marginal increment in its prices. On top of that, n-Hexane's limited supply as a result of limited production activities resulted in the n-hexane's price increase. At the same time, crude oil production cut from May month onwards has further pushed up the prices of n-hexane in the Asian markets. Furthermore, the market had an adequate inventory in place along with operating rates running on the smooth side and no congestion reported in the Chinese ports culminating in the increased prices of n-hexane. The enterprises followed up on their purchases just to fulfill their needs. Buyers showed reluctance towards high-priced goods. Nevertheless, in the Chinese market, prices are expected to take an uptrend in the coming quarter in regard to the optimistic demand from the downstream textile industry.

n-Hexane Prices: https://www.chemanalyst.com/Pricing-data/n-hexane-1151

Europe

The n-hexane price in the European region witnessed a bullish trend across the entire Q2 of 2023 in the presence of promising demand incoming from the downstream textile and printing ventures as industries were willing to increase the production in order to compensate for declining inventories in the region as supply was on the low side. Further down the line, high demands were received from domestic and overseas suppliers, thereby governing high operating costs. Further prices have increased amidst healthy trading activities, and currency exchange-related price fluctuations from Euro to USD have been appreciated with a monthly increment of 1.29 %. In Germany, a steady flow of cheap imports from the Asian nations in between the unstable energy market and stable demand incoming from the downstream chemical industry has further eased the prices. Germany's IFO Business Climate index has fallen, and market participants have witnessed a decline in the prices towards the end of Q2 2023, specifically in Germany. In June, the IFO Business Climate Index fell to 88.5 points, down from 91.5 points in May. Further stable crude oil and LNG market is expected to keep the feedstock cost pressure on the softer side.

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