In November 2024, the global hydrochloric acid (HCl) market showed a mixed trend. In Europe, particularly in Germany, prices remained stable due to limited demand and favorable production costs. However, the US market saw a 3% increase in HCl prices driven by surging production costs. The APAC region, including China and Japan, experienced a bullish trend, with prices rising by 1.5% and 7.6%, respectively, due to higher production costs and demand from the steel manufacturing sector. China’s steel production and exports increased, contributing to the robust demand for HCl. In contrast, the Middle East region, particularly Saudi Arabia, saw a decline in HCl prices due to abundant inventory levels and weak demand from the steel sector.
The price trends were influenced by regional dynamics, including production costs, demand from the steel industry, and global economic factors. In the US, tariffs imposed on imports from certain countries contributed to the rise in production costs. In Europe, the weak automotive sector affected demand for HCl. The report highlights the diverse regional trends in the HCl market, which is influenced by various factors.